1407 Union AveMemphis, TN 38104

Property Details for 1407 Union Ave

Year built

1976

Lot size

1.15 AC

Property size (Sq ft)

416,424 SF

Zone code

CMU-3

Property type

Office properties

Property subtype

Office buildings

APN

016-021- - -00001-C

APU

01602100001C

Description

This exceptional 16-story Class C office building, located at 1407 Union Avenue in Shelby County, presents a unique opportunity for businesses seeking executive office space. Constructed in 1976, the building boasts a total of 178,016 square feet, currently configured as a single suite. A significant portion of the building, totaling 10,959 square feet, is immediately available for lease. This substantial space offers flexibility, with potential for configuration to accommodate various business needs. The available space is divisible, with options ranging from approximately 1,447 to 11,176 square feet, allowing for customization to suit specific requirements. The building's multi-tenant structure provides a vibrant and collaborative environment. This prime location in Shelby County offers excellent accessibility and visibility, making it an ideal choice for businesses seeking a prominent presence. The property's substantial size and available space make it suitable for a variety of uses, from large corporate offices to smaller businesses seeking expansion opportunities. The building's age presents an opportunity for a tenant to modernize and personalize the space to their specific needs and branding. Interested parties are encouraged to inquire about lease terms and availability. This is a rare opportunity to secure a significant amount of executive office space in a well-located building.

• CAP approach

  CAP return

  Valuation

  6%

  $60,000,100

  6.5%

  $55,384,704

  7%

  $51,428,656

• Comparable approach

  Method

  Valuation

  Relative Method

  $32,464,416

  Geo Method

  $32,464,416

• Alternative Use

  Use

  Valuation

  Residential

  $68,677,032

  Hospitality

  $62,907,796

  Educational

  $52,338,548

  Medical

  $54,138,552

  Retail

  $81,415,520

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1361

Longitude

-90.015

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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