2400 Poplar AveMemphis, TN 38112

Property Details for 2400 Poplar Ave

Year built

1963

Lot size

0.84 AC

Property size (Sq ft)

65,448 SF

Zone code

CMU-1

Property type

Office buildings

APN

033-010- - -00013

APU

3301000013

Description

This exceptional five-story, 42,666 square foot Class B office building, located at 2400 Poplar Avenue in Memphis, Tennessee's Midtown Submarket, presents a unique investment opportunity. Built in 1963, the property boasts a prime location, conveniently situated between Downtown Memphis and East Memphis, offering easy access to major thoroughfares. The entire building, totaling 42,666 square feet, is currently vacant, providing a blank canvas for a new tenant or a comprehensive redevelopment project. The building features multiple elevator services and key card access for enhanced security. Recent renovations have modernized the lobby, elevators, and common areas, creating a welcoming and professional atmosphere. Exterior lighting and covered parking add to the building's appeal. The property is situated on Poplar Avenue and Williford Street in Shelby County, zip code 38112, offering excellent visibility and accessibility. Individual suites ranging from 1,066 to 4,215 square feet are available, providing flexibility for various business needs. This is an ideal opportunity to acquire a well-located, adaptable office building in a thriving Memphis submarket.

• CAP approach

  CAP return

  Valuation

  6%

  $9,430,019

  6.5%

  $8,704,633

  7%

  $8,082,874

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,102,326

  Geo Method

  $5,102,326

• Alternative Use

  Use

  Valuation

  Residential

  $10,793,745

  Hospitality

  $9,887,013

  Educational

  $8,225,878

  Medical

  $8,508,779

  Retail

  $12,795,811

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.14

Longitude

-89.9804

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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