717 Raines RdMemphis, TN 38116

  • Retail properties
  • 1,612 SF
For Sale
$225,000 View listing

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 properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
717 Raines Rd, Memphis, Tennessee

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

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
$2,186
$14,400
$21,480
$35,880
-
$36,000
$53,700
$89,700

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