The Commonwealth

240 Madison Ave, Memphis, TN 38103

  • For Lease Contact for pricing
  • Property Type Retail - Street Retail
  • Property Size 66,004 SF
  • Units 40
  • Lot Size 0.51 Acre
  • Building Class A
  • Year Built 1926
  • Date Updated Jun 10, 2025
Originally constructed in 1926 as the Medical Arts Building and comprehensively redeveloped in 2019, this historic mixed-use building offers 3,138 SF of ground-floor retail space featuring high ceilings, large storefront windows, and modern infrastructure. The building also includes 40 modern apartments on the upper floors. Additionally, an optional 1,007 SF of basement space is available, along with a spacious 1,800 SF patio ideal for outdoor dining or retail activation.Originally constructed in 1926 as the Medical Arts Building and comprehensively redeveloped in 2019, this historic mixed-use building offers 3,138 SF of ground-floor retail space featuring high ceilings, large storefront windows, and modern infrastructure. The building also includes 40 modern apartments on the upper floors. Additionally, an optional 1,007 SF of basement space is available, along with a spacious 1,800 SF patio ideal for outdoor dining or retail activation.
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Reach out to the broker for more info on lease terms and amenities

Highlights

  • Flexible layout suitable for retailers, restaurants, or service-oriented businesses
  • Surrounded by residential growth, including 40 on-site apartments and nearby developments like One Beale and the revitalization of the Sterick Building
  • Traffic Counts: Union Avenue (13,275 AADT) and S Danny Thomas Blvd (17,697 AADT)
  • Within walking distance to major attractions including AutoZone Park, Beale Street, the FedEx Forum, and the Orpheum Theatre.

Spaces Available

Contacts

broker
Dustin Jones

Jones Aur Commercial Real Estate

Location

Getting Around

  • Walk Score ®

    90/100 Very Walkable

  • Transit Score ®

    52/100 Good Transit

  • Bike Score ®

    84/100 Very Bikeable
Powered by Walk Score ®
  • City Memphis, TN
  • Neighborhood Downtown Memphis
  • Zip Code 38103
  • Market Memphis

Points of Interest

  • Third Street

    0.05 miles

  • Danny Thomas

    0.28 miles

  • Madison

    0.29 miles

  • South Court

    0.29 miles

  • North Court

    0.30 miles

  • Jefferson

    0.32 miles

  • Union

    0.33 miles

  • Peabody Place

    0.40 miles

  • Civic Center Plaza

    0.40 miles

  • Jefferson Avenue

    0.44 miles

  • Valero

    0.77 miles

  • Exxon

    1.39 miles

  • Mobil

    1.42 miles

  • BP

    1.81 miles

  • Citgo

    1.91 miles

  • Kroger

    1.96 miles

  • ChargePoint

    8.95 miles

  • Metropolis

    0.09 miles

  • Toyota Center Parking Garage

    0.12 miles

  • First Tennessee Bank Parking Garage

    0.17 miles

  • One Memphis Place Garage

    0.17 miles

  • Hilton Garden Inn Lot

    0.23 miles

  • First Place Parking

    0.23 miles

  • One Commerce Square Garage

    0.27 miles

  • Peabody Place Parking Garage

    0.29 miles

  • 100 North Main Parking Garage

    0.31 miles

  • 60 Madison Ave

    0.34 miles

  • Charles Vergos' Rendevous

    0.21 miles

  • Capriccio Grill

    0.22 miles

  • Chez Philippe

    0.23 miles

  • Blue Plate Cafe

    0.26 miles

  • Peabody Corner Bar

    0.26 miles

  • Huey’s

    0.28 miles

  • Wendy's

    0.29 miles

  • Texas De Brazil

    0.30 miles

  • Lew's Blue Note Bar and Grill

    0.35 miles

  • Rum Boogie Cafe

    0.38 miles

  • Peabody Place

    0.32 miles

  • Cordelia's Market

    1.22 miles

  • Viet Hoa Food Market

    1.84 miles

  • Kroger

    1.88 miles

  • Cash Saver

    2.34 miles

  • The Fresh Market

    3.37 miles

  • Superlo Foods

    4.31 miles

  • ALDI

    5.85 miles

  • High Point Terrace Shopping Center

    6.23 miles

  • High Point Grocery

    6.24 miles

Frequently Asked Questions

How much does retail space at 240 Madison Ave cost?

The price for retail space for lease at 240 Madison Ave is available upon request. Pricing of commercial spaces is largely dependent on things like location — especially proximity to areas that can be easily reached by car or public transit or enjoy high foot traffic — the overall size, features and condition of the space, and the lease structure. Safety and security in the area can also play an important role in choosing the most suitable retail space for a business.

What kind of retail space can I rent at 240 Madison Ave?

The property has 3,138 square feet of rentable Retail space. Rental opportunities here are available under NNN lease terms.

Use the contact form at the top of this page to schedule a tour of the property with a broker and get further details on this listing.

How many parking spots are available at 240 Madison Ave?

Reach out to the listing broker for more information on vehicle access and parking options at or near this property, as well as additional amenities that complement the retail experience at 240 Madison Ave. For your consideration, you can find 10 parking option(s) within a 0.5-mile radius.

Are there any potentially competing retail businesses in the area?

Yes, there are 5 spaces zoned for retail use within a 0.5-mile radius of 240 Madison Ave.

Is 240 Madison Ave located in a popular area for retail businesses?

The property is part of Downtown Memphis, which is home to 16 other retail listings.

Other popular areas for retail businesses in Memphis include Cordova, Whitehaven, Raleigh.

Looking for more in-depth information on this property?

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.

Contact Listing Broker
broker
Dustin Jones

Jones Aur Commercial Real Estate

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