Freestanding Flex
For Sale
Contact for pricing
1760 Winchester Rd, Memphis, TN 38116
Open-plan commercial space with CMU-3 zoning, gated storage, and flexible retail or service potential.
Property Size9,100 SF
Lot Size1.66 Acres
Price / SF$74.62
Days on Market181
Property Features for 1760 Winchester Rd
General Information
Standard status
Active
Size
9,100 SF
Class
A
Lot size
1.66 Acres
Property subtype
Industrial, Retail
Zoning
CMU-3
Site & Location
Traffic Count
18,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
signage
Building Details
Year Built
2009
Buildings
1
Stories
1
Units
1
Building Size
9,100 SF
Tenancy
Single
Listing Agency:
Myers Commercial Real Estate
Listed By:
Melanie Myers Bland · License #TN 288335
Source:
Crexi
Added: Mar 3
Changed: Aug 30
Last Checked: Aug 30 at 10:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Myers Commercial Real Estate
Investment Insights
Based on property information with market context.
This freestanding flex property at 1760 Winchester Rd. includes approximately 9,100 square feet on 1.66 acres. Built in 2009, the building offers an open interior that can be configured for retail, medical, restaurant, service, vehicle-related, or light industrial uses. CMU-3 zoning, gated outside storage, abundant parking, and two additional paved and secured lots expand the available operating area.
The property is positioned along Winchester Road in Memphis’ Whitehaven corridor, with approximately 18,000 vehicles passing daily. Memphis International Airport is 2.5 miles away, I-40 is 1.5 miles away, and the site is near FedEx World Hub and Graceland. The surrounding area includes national retailers and more than 49,000 residents within three miles, supporting a range of neighborhood-oriented commercial applications.
The property is positioned along Winchester Road in Memphis’ Whitehaven corridor, with approximately 18,000 vehicles passing daily. Memphis International Airport is 2.5 miles away, I-40 is 1.5 miles away, and the site is near FedEx World Hub and Graceland. The surrounding area includes national retailers and more than 49,000 residents within three miles, supporting a range of neighborhood-oriented commercial applications.
Key Highlights
- Approximately 9,100 SF freestanding flex building on 1.66 Ac.
- CMU‑3 zoning with open interior layout
- Approximately 18,000 vehicles per day along Winchester Road
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,170
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,043,400
$1.0M
Cap Rate 7%
$745,286
$745.3K
Cap Rate 9%
$579,667
$579.7K
Market Conditions
NOI Build-Up for 9,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$81.9K $9.00/SF
− Vacancy
−$7.4K −$0.81/SF
EGI
$74.5K $8.19/SF
− OpEx
−$22.4K −$2.46/SF
NOI
$52.2K $5.73/SF
Area
ZIP 38116
Vacancy
9.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,043,400
Cap Rate 7%
$745,286
Cap Rate 9%
$579,667
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.78M
NOI $106,634 @ 7.0% cap · market cap 15.70%
Second Best
Flex RnD
$922.7K
$807.4K – $1.08M
NOI $64,592 @ 7.0% cap · market cap 9.51%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,270 @ 7.0% cap · market cap 23.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 38116, TN
39,107
Population
18,526
Households
2.1
Avg Household Size
35
Median Age
21%
College-Educated
88%
High-School Grad
19.6 sq mi
ZIP Area
1,995
Density / Sq Mi
$44,663
Median Household Income
$31,593
Median Earnings
$1,035
Median Rent
$125,800
Median Home Value
Market
Vacancy Rate% for Industrial in Memphis, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Open-plan commercial space with CMU-3 zoning, gated storage, and flexible retail or service potential.
Where is this flex space located?
The property is located at 1760 Winchester Rd Memphis, TN.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Approximately 9,100 SF freestanding flex building on 1.66 Ac.; CMU‑3 zoning with open interior layout; Approximately 18,000 vehicles per day along Winchester Road
