Elvis Presley Enterprises has bought "China Buffet", a restaurant at 3641 Elvis Presley Blvd. for $1 million. The 5,200-square-foot restaurant was built in 1991 and sits on .8 acres on the west side of Elvis Presley Boulevard south of Bluebird Road. The Shelby County Assessor in 2006 appraised it at $490,100. The restaurant will remain in operation as is, said Todd Morgan, spokesman for Elvis Presley Enterprises (EPE). Morgan said EPE saw this as an opportunity to invest near other EPE-owned properties. Last year, CKX announced plans to enhance Graceland visitors' experiences in the Whitehaven area around Graceland, while preserving the integrity of the mansion itself.