2551 Mount Moriah RdMemphis, TN 38115

  • Retail properties
  • 6,103 SF
For Sale
$1,300,000 View listing

Property Details for 2551 Mount Moriah Rd

Year built
1975
Lot size
1.11 AC
Property size (Sq ft)
6,103 SF
Zone code
CMU-3
Property type
Retail properties
Property subtype
Auto shops
APN
074-001- - -00175
APU
7400100175

Description

This exceptional 6,103-square-foot commercial property, located at 2551 Mt Moriah Rd in Memphis, Tennessee, presents a unique investment opportunity. Situated on a 1.11-acre lot, this single-story building boasts a versatile layout previously used as an auto dealership and restaurant. The property is classified as Class C and features a creative office subtype, ideal for adaptive reuse. Built in 1975 and renovated in 2009, the structure offers significant potential for various commercial ventures. The property is served by MLGW power and benefits from its convenient East Memphis location, with easy access via Mendenhall Road. The sale price is $1.3 million. The property is being offered "as is," and showings are available. The building's single-tenant occupancy provides flexibility for a variety of uses. The substantial lot size offers ample parking and potential for expansion or outdoor amenities. This property represents a compelling opportunity for investors seeking a well-located, adaptable commercial space in a thriving Memphis submarket. The zip code is 38115.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,292,638
    6.5%
    $1,193,204
    7%
    $1,107,975
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,198,990
    Geo Method
    $1,198,990
  • Alternative Use

    Use
    Valuation
    Residential
    $1,006,512
    Hospitality
    $921,960
    Educational
    $767,060
    Medical
    $793,440
    Retail
    $1,193,204
2551 Mount Moriah Rd, Memphis, Tennessee

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.0788
Longitude
-89.8867
CBSA code
32820
CBSA name
MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$12,139
$77,640
$121,640
$199,280
-
$194,100
$304,100
$498,200

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