Exciting Changes Coming to South Main Street in Memphis!
Memphis has always had a vibrant dining and entertainment scene, and now it looks like the city is gearing up for more exciting changes on South Main Street. If you’ve strolled down this popular thoroughfare recently, you might have noticed a buzz surrounding two buildings that are currently on the market. Ed and Brittany Cabigao, the duo behind the successful restaurant group SOB Hospitality, have made headlines by listing their properties located at 345-365 S. Main St. for an asking price of $4.24 million.
Why the Cabigaos Are Selling
So, what’s the story? Ed Cabigao shared that the couple has decided to concentrate their efforts on the restaurant side of their business. This comes after they successfully relocated SOB from its original spot at 361 S. Main to a larger space within the Ambassador Hotel at 345 S. Main. The move was completed in 2021, and since then, the restaurant has been thriving in its new home. Meanwhile, Good Fortune took over the former SOB location in 2021, marking a fresh chapter for both establishments.
A Diverse Real Estate Opportunity
These two buildings span over 20,000 square feet and offer an eclectic mix of property types. Not only do they house two popular restaurants, but they also feature the former offices of the Sauce Agency. With apartments and short-term rental units established on the upper floors of the Ambassador Hotel, the listing offers a unique fusion of commercial and residential opportunities. It’s truly a versatile package that could attract a range of buyers!
The Perfect Buyer
Real estate expert Jonathan Aur from Jones Aur Commercial Real Estate is optimistic about finding the right buyer. He mentioned, “We’re looking for one buyer, ideally,” and added that this property likely appeals to someone local or regional rather than an institutional investor. The diversity of the offerings—restaurants, office space, and potential residential units—makes it essential for the new owner to have a grasp of different property types.
Interest Already Sparking!
Since the properties hit the market about a month ago, there has already been a noticeable amount of interest from potential buyers. Ed Cabigao’s decision to rent space for SOB rather than own the real estate has clearly become a strategic move, focusing more on what they do best—providing unforgettable dining experiences!
What’s Next for South Main?
As these properties make their way through the sales process, it’s exciting to think about the future of South Main Street. With a combination of established eateries and potential for more apartments or office spaces, there’s no telling how this area might evolve. Whether you’re stopping by for a delicious meal at SOB or simply enjoying a stroll, this section of Memphis is definitely one to keep an eye on.
In conclusion, the Cabigaos are shifting gears and opening new chapters in their restaurant journey while offering up an enticing real estate opportunity for potential buyers. If you are interested in the vibrant Memphis business scene, keep your ears open for updates on South Main Street – something tells us, big things are just around the corner!
Stay Informed!
Remember to keep an eye on local news outlets and community boards for all the latest updates, including the exciting developments surrounding South Main Street. Who knows? You might be hearing about a fabulous new restaurant, stylish apartments, or even a chic office space in the not-so-distant future!
