Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    217 Exchange Ave Memphis, TN 38105

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Turn-key office space in Downtown Memphis near key landmarks.

    Property Features for 217 Exchange Ave

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Melanie Myers Bland
    Melanie Myers Bland
    Source: Crexi

    Listing Agency: Myers Commercial Real Estate Listing Agent: Melanie Myers Bland

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Downtown Memphis Office Space Available

    This 3,200 square foot office space is located at 217 Exchange Ave. in Downtown Memphis. Formerly an attorney's office, the space is suited for legal, professional, or administrative users. The layout includes a reception and lobby area, four private offices, and a large conference room. Additional amenities include a breakroom area and two restrooms. The property is located near the Renasant Convention Center, the Shelby County court system, and the Memphis Police Department. The lease rate is $12.00 PSF NNN. The space is ready for immediate occupancy.
    Location Intelligence

    Current Use by Public Records

    Hardaway Law Office Law Firm Southaven DUI Lawyer Law Firm Southaven Criminal Defense ... Law Firm Carpet Cleaning Service ... Carpet Cleaning Service Memphis DUI Lawyer Law Firm

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0466321
    Latitude
    35.1499646

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      TN, Memphis - S Main Street

      Workspaces, services and support to help you grow your business in TN, Memphis - S Main Street
      107 Main St, Memphis, TN 38103
      View Details
    • Contact for pricing

      Southwind Office Center

      Discover many ways to work your way in Southwind Office Center
      8295 Tournament Dr, Memphis, TN 38125
      View Details
    • Contact for pricing

      Colonnade

      Discover many ways to work your way in Colonnade
      1661 International Dr, Memphis, TN 38120
      View Details
    • Contact for pricing

      Triad center I

      Discover many ways to work your way in Triad center I
      6000 Poplar Ave, Memphis, TN 38119
      View Details
    • Contact for pricing

      Clark Tower

      Discover many ways to work your way in Clark Tower
      5100 Poplar Ave, Memphis, TN 38137
      View Details
    • Contact for pricing
      51,000 SF

      Spacious Office Building in Germantown

      51,000 SF office space for rent in a prime location.
      3800 Forest Hill Irene Rd, Memphis, TN 38125
      View Details
    • Contact for pricing
      122,000 SF

      East Memphis Office Space Available

      Office space in East Memphis, a desirable business location.
      1023 Cherry Rd, Memphis, TN 38117
      View Details
    • Contact for pricing
      9,492 SF

      Downtown Memphis Commercial Space

      Historical loft space in vibrant South Main arts district.
      505 Tennessee St, Memphis, TN 38103
      View Details
    • $4 SF/Yr
      30,742 SF

      Industrial Facility with Extensive Access

      Two-building industrial facility with 15 drive-in doors and office space.
      1300 Lincoln St, Memphis, TN 38114
      View Details
    • $1.00 SF/Yr

      Office and Warehouse Facility For Rent

      4,756 SF office and warehouse with yard and parking.
      231 Parkway South Pkwy West, Memphis, TN 38109
      View Details
    • Contact for pricing

      Downtown Memphis Restaurant Space Available

      Upscale restaurant space in Canopy Hotel, high-traffic downtown location.
      164 Union Ave, Memphis, TN 38103
      View Details
    • Contact for pricing

      East Memphis Office Building For Lease

      2,149 SF office building in the heart of East Memphis.
      948 Reddoch Cv, Memphis, TN 38119
      View Details

    FAQs

    What type of property is this?
    Office units - Turn-key office space in Downtown Memphis near key landmarks.
    Where is this office units located?
    The property is located at 217 Exchange Ave Memphis, TN.
    What are key features of this property?
    This property features: - Prime Downtown Memphis location near Renasant Convention Center, Shelby County Criminal Justice Center, and Memphis Police Department; - Turn-key former attorney's office suitable for legal, professional, or administrative users; - Efficient layout with a mix of private offices and collaborative space
    Request Owner's contact information
    217 Exchange Ave Memphis, TN 38105
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    217 Exchange Ave
    Memphis, TN 38105
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    217 Exchange Ave Memphis, TN 38105
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Melanie Myers Bland
    Melanie Myers Bland
    Real Estate License ID: 288335
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!