Map of Property

The Commonwealth

For Lease

240 Madison Ave, Memphis, TN 38103

You can currently find 1 retail space(s) available for lease at The Commonwealth. Designated use type for space listed here includes retail. Current retail listings at this property total 3,138 square feet. Lease type options include NNN. Expand the listing and property details below for additional information on leasing opportunities at The Commonwealth.

Space Available For Lease 1

Contacts

broker
Dustin Jones

Jones Aur Commercial Real Estate

Property Details

  • 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 4, 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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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
  • Within walking distance to major attractions including AutoZone Park, Beale Street, the FedEx Forum, and the Orpheum Theatre.
  • Traffic Counts: Union Avenue (13,275 AADT) and S Danny Thomas Blvd (17,697 AADT)

Getting around

  • 90/100

    Walk Score ®

  • 52/100

    Transit Score ®

  • 84/100

    Bike Score ®

Powered by Walk Score ®

Location

  • 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

240 Madison Ave Listing Brief

  • A property’s location contributes to the asking rent almost as much as its characteristics do. For instance, central urban locations with high walkability or suburban locations with ample parking and easy access by car will claim higher rents but offer superior access to your customer base. Likewise, the quality of the building systems and property finishes have a significant impact on how businesses can conduct their activity there, as well as on the experience of their customers.

    240 Madison Ave is located in Downtown Memphis, which is home to a total of 16 listing(s). The rent for retail space at 240 Madison Ave is available upon request. Feel free to reach out using the contact form conveniently included on this page to find out more about what the property can offer for your business.

  • The property includes 3,138 square feet of retail space for lease. Of this total, 3,138 square feet are Retail.

    Lease agreement conditions for the availability at this property include NNN.

    For more information or to schedule a tour of the property, use the convenient contact form on this page to get in touch with a representative.

  • You should keep in mind that different areas gradually build a reputation as hotspots or desirable corridors for shopping, eating, or other entertainment and consumer activities. So, while renting retail space in an area with a well-established high-end reputation might mean more customers that are more willing to spend, it will also place you in a more competitive environment.

    Knowing your ideal customer is essential. For your consideration, the average age of residents in Downtown Memphis is 33. The average household income here is $30,825 per year.

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Dustin Jones

Jones Aur Commercial Real Estate

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