2551 Mount Moriah RdMemphis, TN 38115
- Retail properties
- 6,103 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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