1495-1511 Union Ave - Storefront Retail/Office FOR SALE


Memphis, TN 38104- Midtown Memphis
$1,650,000 USD
901-842-5322
1495-1511 Union Ave, Memphis, TN for Sale
$1,650,000 USD
Storefront Retail/Office - FOR SALE
1/10
null | Request Cap Rate

1495-1511 Union Ave
Memphis, TN 38104
Midtown Memphis


OVERVIEW

**SIGNIFICANTLY REDUCED** SELLER FINANCE OPPORTUNITY FOR QUALIFIED BUYERS Kimbrough Retail Center Value-Add Opportunity with Excellent Adaptive Reuse Option In Memphis’ Medical District Central to Major Employment Anchors with 112,000+ White-Collar Jobs 23,000 SF Heated SF Retail Building 19,500 SF Adjoining Structured Garage Ask Price                       $1,650,000 Act Now: Prime Memphis Buy near planned $1.5 Billion Hospital Development! Just 1 mile from newly announced $1.2-$1.5 Billion Regional One hospital campus set to add thousands of jobs to the Medical District The prominent location, ample parking and the vacant second floor space make the center an ideal candidate for a variety of mixed-use options, spanning multifamily, office, or live-work space concepts. GC Estimate for 2nd floor multifamily conversion ready in Document Center Exclusive Seller Financing Available for Qualified Buyers Major CapX completed by Seller minimize Rehab Scope: Street level retail cleared and marketed for lease to retail and service businesses. Slice Midtown occupies a 1,740sf (10 year lease); 2nd bay under signed LOI. Partially demolished 11,000+sf second floor with all partitions removed ideally suited for adaptive reuse. New TPO roof across (November 2024). New electric room with adequate capacity for entire center. Newly installed fire sprinkler system in garage (March 2025). Newly New installed HVAC system for 2nd floor common space. Parking lease agreement ($25,000/yr) with adjacent apartment building INVESTMENT HIGHLIGHTS Partially Renovated Retail Center with 60-Space Garage Storefront Retail (6 Bays) with Excellent Adaptive Reuse Option on 2nd Floor Recent Capital Improvements: Street level retail cleared and marketed for lease to retail and service businesses. Slice Midtown occupies a 1,740sf (10 year lease) Partially demolished 11,000+sf second floor with all partitions removed ideally suited for adaptive reuse. New TPO roof across in November 2024 New parking lease agreement ($25,000/yr) with adjacent apartment building LOCATION HIGHLIGHTS Prominent Location in Memphis Medical District near Major Employers Great Visibility on High-Traffic Union Avenue Corridor Convenient Access to Area Amenities Zero New Supply Pipeline in Immediate Submarket Prospective Market Growth via xAI’s Gigacomputer investment expected to draw tech giants Nvidia, Dell and others to Memphis DOCUMENT CENTER features OM Concept Layout for 2nd Floor Multifamily Conversion New Roof Warranty *MORE PHOTOS AVAILABLE ON PROPERTY LISTING WEBSITE. LINK BELOW*

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$38 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Kimbrough Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.02 AC

LAND SF

44,431 SF

ZONING

CH

APN/PARCEL ID

01-6023-0-0002

ASK ABOUT THIS PROPERTY

Lea HeiligWoodyard Realty CorporationMore Info
901-842-5322

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Lea HeiligWoodyard Realty CorporationMore Info
901-842-5322

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.