Mixed Use Studio Space with Apartment

Retail-Commercial for Sale
Catylist Listing ID: 30378598
Property Subtypes: Mixed Use, Street Retail
Building Size (RSF): 4,730 SF
Gross Building Area: See Agent
Sale Price: $349,000
Unit Price: $73.78 PSF
Ceiling: 10 ft.
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/14/2019

Overview / Comments

Crye-Leike Commercial is pleased to present for sale a unique mixed use studio/home space located on Madison Avenue. This two-story home, built in 1925, has been renovated and improved to hold a recording studio business. Property is positioned with high exposure and easy access on Madison Avenue neighboring the flurry of activity surrounding the Medical district and directly next door to the beautifully renovated Minglewood Hall. The studio space offers excellent insulation and soundproofing.
The entire second story holds a 2 bedroom apartment with full kitchen. Three dedicated parking spaces on site with additional street parking available.

Additional Details

Nearest MSA: Memphis
County: Shelby
Tax ID/APN: 017030 00002
Zoning: CMU-3
Retail Clientele: General, Business, Tourist, Recreation
Property Visibility: Excellent
Largest Nearby Street: Madison Avenue
Area Description: Redeveloping commercial district adjacent to medical district with almost 98% residential occupancy. Next door to the beautifully renovated Minglewood Hall, home to a wide variety of entertainment and musical events.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1925
Roof Type: Gable
Construction/Siding: HardiePlank Siding
Total Parking Spaces: 3
Parking Type: Surface
Parking Description: 3 surface parking spaces and street parking
Sprinklers: None
Water Service: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,960 130,146 235,774
Median Age: 39.43 36.08 34.96
Households: 10,968 55,220 96,462

Source

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