199 Summitt St 6,688 SF Office Building Memphis, TN 38104 $650,000 ($97.19/SF)
INVESTMENT HIGHLIGHTS
- - Located off of Union Ave; directly behind Fresh Market.
- - Steps away from Cooper Young
- - In a quiet, Midtown neighborhood, away from the rustle and bustle; but close to places like Playhouse on the Square, Hattiloo Theatre
- - Two blocks from Overton Square (add link to Overton Square)
- - Major investments occurring along Union Ave and Cooper St
- - Also close to the Memphian Hotel, Ballet Memphis, Brook Museum, Memphis Zoo, Overton Park Shell, and Overton Park
EXECUTIVE SUMMARY
Don’t miss this RARE, AVAILABLE potential income producing opportunity!
Unique Mixed Use Property in Heart of Midtown Memphis AKA (Heart if the Arts)
Multi-level property:
Upper Level:
- office space previously occupied by a law firm
- Studio apartment that is fully renovated and ready for occupancy
- Long term or short term rental
- Unfinished and unrenovated - Ready for renovation
Lower Level :
- Office/ Creative Space; partially renovated but available fro occupancy. Currently used has a creative visual marketing studio.
This property is ideal for an owner/ user with an entrepreneurial mindset. Also ideal for an investor interested in four income producing components with tremendous income potential.
Located one block off of Union Ave (directly behind the popular Midtown Fresh Market)
Two blocks from Overton Square: http://overtonsquare.com/
Blocks away from Cooper-Young neighborhood and entertainment district
Situated in a quiet Midtown neighborhood, away from the hustle and bustle; but close enough to iconic cultural destinations like Playhouse on the Square, Hattiloo Theatre, Memphian Hotel, Ballet Memphis, Brook Museum, Memphis Zoo, Overton Park Shell, and Overton Park (Memphis’ Central Park)
Major hotel, apartment, and retail investments occurring along Union Ave and Cooper St within blocks of this property
Unique Mixed Use Property in Heart of Midtown Memphis AKA (Heart if the Arts)
Multi-level property:
Upper Level:
- office space previously occupied by a law firm
- Studio apartment that is fully renovated and ready for occupancy
- Long term or short term rental
- Unfinished and unrenovated - Ready for renovation
Lower Level :
- Office/ Creative Space; partially renovated but available fro occupancy. Currently used has a creative visual marketing studio.
This property is ideal for an owner/ user with an entrepreneurial mindset. Also ideal for an investor interested in four income producing components with tremendous income potential.
Located one block off of Union Ave (directly behind the popular Midtown Fresh Market)
Two blocks from Overton Square: http://overtonsquare.com/
Blocks away from Cooper-Young neighborhood and entertainment district
Situated in a quiet Midtown neighborhood, away from the hustle and bustle; but close enough to iconic cultural destinations like Playhouse on the Square, Hattiloo Theatre, Memphian Hotel, Ballet Memphis, Brook Museum, Memphis Zoo, Overton Park Shell, and Overton Park (Memphis’ Central Park)
Major hotel, apartment, and retail investments occurring along Union Ave and Cooper St within blocks of this property
PROPERTY FACTS
Sale Type
Owner User
Property Type
Office
Property Subtype
Building Size
6,688 SF
Building Class
C
Year Built/Renovated
1910/1982
Price
$650,000
Price Per SF
$97.19
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,688 SF
Building FAR
0.90
Lot Size
0.17 AC
Zoning
C - Commercial Zoning
Parking
4 Spaces (0.6 Spaces per 1,000 SF Leased)
AMENITIES
- Storage Space
- Air Conditioning
1 of 1
Walk Score®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 02-8008-0-0005C | Improvements Assessment | $125,720 |
| Land Assessment | $11,400 | Total Assessment | $137,120 |
CONTACTS
-
Darrell Cobbins -
Brandon Ingram -
Universal Commercial Real Estate
