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2493 Broad Ave 16,246 SF 100% Leased Retail Building Memphis, TN 38112 $2,600,000 ($160.04/SF)
Investment Highlights
- Prime Memphis Retail Conversion — 16,246 SF on Broad Ave. in Rapidly Redeveloping Arts District
- Surrounded by new urban development including apartments, restaurants, and retail.
- Located within federally designated Opportunity Zone (OZ), offering capital gains tax deferral/reduction and tax-free appreciation
- Flexible configuration: 1–3 suites to maximize marketability
- Highly walkable corridor with new bike lanes and streetscape improvements
Executive Summary
To access due diligence, visit https://bracketre.com/listing/e66c5854-5255-4e46-bc9a-70d73003304e
Positioned in the heart of the Broad Avenue Arts & Retail District, 2493 Broad Ave presents a rare opportunity to capitalize on one of Memphis’ most dynamic redevelopment corridors. The property has undergone a strategic transformation toward modern retail use, aligned with the neighborhood’s evolution into a walkable, creative, and amenity-driven destination.
The 16,246 SF building sits directly across from a major new multifamily development, and is surrounded by restaurants, boutique retail, creative studios, and new urban residential projects — benefiting from strong foot traffic, bike lanes, and ongoing public investment along Broad Avenue.
Positioned in the heart of the Broad Avenue Arts & Retail District, 2493 Broad Ave presents a rare opportunity to capitalize on one of Memphis’ most dynamic redevelopment corridors. The property has undergone a strategic transformation toward modern retail use, aligned with the neighborhood’s evolution into a walkable, creative, and amenity-driven destination.
The 16,246 SF building sits directly across from a major new multifamily development, and is surrounded by restaurants, boutique retail, creative studios, and new urban residential projects — benefiting from strong foot traffic, bike lanes, and ongoing public investment along Broad Avenue.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Building Size
16,246 SF
Building Class
C
Year Built
1924
Price
$2,600,000
Price Per SF
$160.04
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.57
Lot Size
0.65 AC
Opportunity Zone
Yes
Zoning
CMU - Commercial Mixed-Use
Parking
11 Spaces (0.68 Spaces per 1,000 SF Leased)
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 03-3018-0-0020 | Improvements Assessment | $444,080 |
| Land Assessment | $25,800 | Total Assessment | $469,880 |
Property Taxes
Parcel Number
03-3018-0-0020
Land Assessment
$25,800
Improvements Assessment
$444,080
Total Assessment
$469,880
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2493 Broad Ave
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