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124 East G E Patterson Avenue

124 East G E Patterson Avenue, Memphis, TN 38103
Property in Downtown Memphis
1 Units For Sale
Unit for sale at 124 E G E PATTERSON, Memphis, TN 38103

$1,300,000

  • Commercial
124 E G E PATTERSON, Memphis, TN 38103 Listing by Leigh Martin

Local assessors in Memphis, TN have categorized 124 East G E Patterson Avenue as a commercial type of property. The home was built in 1949 and is 75 years old. It was most recently renovated and altered in 1997. The property's lot size has been calculated to be 7,326 square feet. The linear feet between the front and back of the lot was measured at 740 ft and the front of the lot was measured at 1,360 ft. This is a single story home so it's perfect for folks who don't want to have to climb stairs on a daily basis. If we look only at the heated or air conditioned part of the building, then 124 East G E Patterson Avenue has a total of 4,877 sqft of living area. Note that this number does not include the square footage of the garage, basement, and/or porch into its calculations.

Curious to learn more about the home? Our team of data engineers have sourced the most up-to-date information from the local assessors office to share with you. 124 East G E Patterson Avenue is a 2 code building. This code stands for "buildings that have fireproofed reinforced concrete frames carrying all wall, floor and roof loads which are all non-combustible.". Do you like to entertain? The home has a unknown so you'll have a great option in the back of the home. Moving onto specific details regarding the building. Our sources show that the building condition is good. It might sound scary but did you know that buildings can move depending on the weather? Both hot and cold weather can have severe impact on the longevity of your home structure depending on how much your home moves. Hence why architects pay a lot of attention to the type of control joints used in the construction process. Just so you know, this home was built with frame control joints. Not only do we know the type, but we also know that the assessors have graded the quality of these control joints with a letter grade - C. Lots of brick veneer were used in the construction of the exterior walls of the home. Residents rely on central air conditioning for their cooling system. The home's a heating system is the primary heating source and it is being fueled with gas. The property was last sold in Oct 31, 2016 for $550,000. That's $112.77 per sqft. Prior to that sales transaction, the property was also sold in Sep 10, 2007 for $380,000. 124 East G E Patterson Avenue was last assessed in 2022. The total value of the property was assessed at $235,840. Specifically, the land the property is located on was valued at $45,800. While improvements on the property were assessed at a total of $190,040. The total assessed value for this property is less than the total market value as of this moment. Which is great for tax purposes. The total amount of taxes due from a property owner is $14,367. The initial tax year of delinquency was in 2022. The process of purchasing a home may seem daunting and challenging for many first-time prospective homebuyers. No worries! We've broken down the overall homebuying process into detailed steps and have also included a breakdown on the general amount of time you'll need for each step you have to take. For example, most people don't know that the most important first step of any home buying process is to get pre-approved for a mortgage! With a few months of hard work, you will soon be the proud owner of your property and home.

This property description is generated based on publicly available data.

1 Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By
20230301
03/01/2023
Loft
-
-
$1,650,000
bedrooms
Loft
bathrooms
-
-
-
-
Leigh Martin
Hobson, REALTORS

Building Info

Overview

    General

  • Year Built: 1949
  • Effective Year Built: 1997
  • Building Count: 1
  • Bedroom Count: 0
  • Building Condition: Good
  • Building Quality: C
  • Construction Type: Frame
  • Exterior Walls Type: Brick veneer
  • Floor Count: 1
  • Basement Area: 0
  • Parking Space Count: 0

    Dimensions

  • Lot Size Square Feet: 7,326
  • Lot Size Depth Feet: 740
  • Lot Size Frontage Feet: 1,360
  • Total Building Area: 4,877
  • Gross Building Area: 4,877
  • Building Area: 4,877
  • Building Area Measurement: Gross Area

    Heating and Cooling

  • Air Conditioning: Central air conditioning
  • Heating: Yes
  • Heated Square Feet: 4,877
  • Heating Fuel Type: Gas

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Building Type: Fireproof reinforced concrete frames/Non-combustible materials
  • Property Class: Commercial
  • Subdivision: MERCHANTS C P & S CO
  • Land Acres: 0.168
  • Standard Land Use Code: Restaurant
  • Legal Description 1: W PT 22 NS CALHOUN COR MULBERRY

Ownership

  • Current Owner : JT RESTAURANT GROUP LLC
  • Previous Owner : CROW NORMA
  • Owner Before Previous Owner: CHAMBERLAIN MCCREERY & RICE LLC
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Shelby County School District
  • Census Tract: 004200

Zoning

  • Zoning: SM

Geography

  • District: O
  • Parcel: 00-2115-0-0009
  • Lot: 19&21
  • Municipality: MEMPHIS
  • Latitude: 35.133
  • Longitude: -90.058

    Address

  • Full Address: 124 E Ge Patterson Ave
  • Address - House Number: 124
  • Street Direction: E
  • Address - Street Name: Ge Patterson
  • Address - Suffix Type: Ave
  • State: TN
  • City Name: Memphis
  • Carrier Code: C025
  • 4-Digit Zip Code: 4505
  • Zip Code: 38103

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $14,367
  • Intital Tax Deliquent Year: 2022

    Market Valuation

  • Market Total Value: $589,600
  • Market Land Value: $114,500
  • Market Improvement Value: $475,100

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $235,840
  • Assessed Land Value: $45,800
  • Assessed Improvements Value: $190,040

    Sales

  • Current Sale Contract Date: Oct 31, 2016
  • Current Sale Recording Date: Nov 03, 2016
  • Current Sale Transaction ID: 1842590761
  • Current Sale Price: $550,000
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 16113418
  • Previous Sale Recording Date: Oct 05, 2007
  • Previous Sale Contract Date: Sep 10, 2007
  • Previous Sale Amount: $380,000
  • Previous Sale Document Type: Warranty Deed

    Last Sale Mortgage

  • First Mortgage Lender: SYCAMORE BANK
  • First Mortgage Transaction Date: Nov 03, 2016
  • First Mortgage Loan Amount: $450,505
  • First Mortgage Loan Type: Future Advance Clause / Open End Mortgage

About Downtown Memphis



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Frequently Asked Questions

What neighborhood is 124 East G E Patterson Avenue located in?
The 124 East G E Patterson Avenue is a located in the neighborhood of Downtown Memphis in Downtown Memphis, Memphis.
How many listings are currently for sale in 124 East G E Patterson Avenue?
There is a listing currently on the market for sale.
What is the average sales price for listings in 124 East G E Patterson Avenue?
The average sales price for units in 124 East G E Patterson Avenue is $1,300,000 currently.

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