409 Main StMemphis, TN 38103

Property Details for 409 Main St

Year built

1910

Lot size

0.19 AC

Property size (Sq ft)

34,969 SF

Zone code

SM

Property type

Retail space

APN

002-105- - -00003

APU

210500003

Description

This exceptional 35,000 square foot, three-story building at 409 S Main St in Memphis, Tennessee, presents a unique investment opportunity. Originally constructed in 1910, this Class B retail property sits on a 0.195-acre lot and is currently vacant. The building boasts a rich history, previously housing the successful Lucky Cowboy bar and lounge. The basement, with its eclectic décor and furniture (available separately), once held 110 people and features restrooms. The first floor includes a brand-new, full commercial kitchen, perfect for restaurant use or venue expansion, along with multiple restrooms. The second floor offers a blank canvas for adaptable design and potential event space expansion. The third floor is a fully functioning wedding venue, comfortably accommodating 250 people (220 seated), complete with a caterer's kitchen, bridal suite, groom's suite, and attached restrooms. This turnkey operation generates revenue from scheduled venue rentals. The asking price is $3,500,000, translating to $100 per square foot. This property offers significant potential for a variety of uses and substantial returns. The building's prime location in downtown Memphis ensures high visibility and accessibility. This is a rare chance to acquire a historic property with significant existing infrastructure and immediate revenue potential.

• CAP approach

  CAP return

  Valuation

  6%

  $7,406,564

  6.5%

  $6,836,828

  7%

  $6,348,483

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,869,982

  Geo Method

  $6,869,982

• Alternative Use

  Use

  Valuation

  Residential

  $5,767,120

  Hospitality

  $5,282,651

  Educational

  $4,395,104

  Medical

  $4,546,258

  Retail

  $6,836,828

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1355

Longitude

-90.0587

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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