717 Raines RdMemphis, TN 38116

Property Details for 717 Raines Rd

Year built

1951

Lot size

0.46 AC

Property size (Sq ft)

1,612 SF

Zone code

R-10

Property type

Retail space

APN

077-037- - -00004

APU

7703700004

Description

This 1700-square-foot vacant retail space, located at 717 E Raines Rd in Memphis, Tennessee, presents a unique investment opportunity. Currently zoned R-10, this single-story, 1951-built building sits on a 19,994-square-foot lot and offers 30 parking spaces. The property features a recently installed roof, central heat and air conditioning, and a fully fenced lot, providing ample outdoor space ideal for various uses. Previously operating as a salon, the space is adaptable for a range of businesses, from professional services to food and beverage establishments. Its prime location in a thriving Memphis neighborhood ensures high visibility and accessibility. The property's turnkey condition, combined with its large lot and ample parking, makes it an attractive option for entrepreneurs and investors alike. The asking price is $225,000, and the property is currently vacant, allowing for immediate occupancy and customization. The APN is 077037 00004. This is a gross lease property.

• CAP approach

  CAP return

  Valuation

  6%

  $341,428

  6.5%

  $315,164

  7%

  $292,652

• Comparable approach

  Method

  Valuation

  Relative Method

  $316,692

  Geo Method

  $316,692

• Alternative Use

  Use

  Valuation

  Residential

  $265,853

  Hospitality

  $243,520

  Educational

  $202,605

  Medical

  $209,573

  Retail

  $315,164

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0349

Longitude

-90.0401

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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