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    6616 Winchester Rd Memphis, TN 38115

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    Well-known retail center with high visibility and convenient access.

    Type:Retail, Office, Special Purpose
    Added:
    Nov 8, 2021
    Days on Market:
    1622
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 6616 Winchester Rd

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office, Special Purpose

    Building Details

    Year Built
    1989

    Spaces For Lease

    at 6616 Winchester Rd Contact us

    Ste 360 $15 /Mo

    Size
    1,257 SF
    Type
    Retail, Office, Special Purpose
    Former Fashion Clothing Boutique. It has open space and a high ceiling with an additional...
    show more
    Contact us

    Ste 310 $15 /Mo

    Size
    1,125 SF
    Type
    Retail, Office, Special Purpose
    Former Healthy Smoothies.
    Contact us

    Ste 320 $15 /Mo

    Size
    2,421 SF
    Type
    Retail, Office, Special Purpose
    Former Computer/Phone Repair Shop
    Contact us

    Ste 230 $18 /Mo

    Size
    800 SF
    Type
    Retail, Office
    Contact us

    Ste 350 $4 /Mo

    Size
    23,904 SF
    Type
    Retail, Office, Special Purpose
    Former Movie Theatre. Huge reception with 7 large stages. It can be used for multiple...
    show more
    Contact us

    Ste 195 $5 /Mo

    Size
    11,723 SF
    Type
    Retail, Office, Special Purpose
    Perfect floor plan. Currently used for weddings and parties.
    Contact us

    Ste 290 $15 /Mo

    Size
    1,574 SF
    Type
    Retail, Office, Special Purpose
    Former barber shop in an ideal location.
    Contact us
    Show more

    We can help!

    Listing Contact
    Mike Chung

    Listing agent Mike Chung License #CA

    Listing office Izushin Corp

    Listing date Nov 8, 2021

    Source Crexi

    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 Izushin Corp

    Overview

    Retail Center on Winchester Road

    Winchester Court is a retail center located on Winchester Road, between Kirby Parkway and Brownbark Drive. The location benefits from high traffic volume, with 42,087 vehicles passing by daily. The center features a red brick facade and a tenant roster of local, regional, and national businesses. Anchors include Winchester Farmer’s Market, Memphis Furniture, and Plaza Hispana. Neighboring retailers include Dollar General, Big Lots, CVS, Conn’s HomePlus, and The Home Depot. The property is located 9 miles from the University of Memphis, 10 miles from the Memphis International Airport, and 17 miles from Downtown Memphis. The surrounding area has a strong demographic profile, with 194,153 residents, 117,312 daytime employees, and 10,312 businesses within a five-mile radius. This location is suitable for retailers seeking a presence in the Memphis and North Mississippi markets.
    Location Intelligence

    Current Use by Public Records

    Ritmo Latino (Bike/Boat/Book/etc) Store ATM Atm Winchester Farmers Market Specialty Food Shop Winchester Court Shopping Center & Mall

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Similar Places Nearby

    • Store 6092 — 6215 Winchester Rd, Memphis, TN 38115
    • Hickory Ridge Crossing Center — 3649 Hickory Hill Rd, Memphis, TN 38115
    • Memphis Plaza — 6393 Winchester Rd, Memphis, TN 38115
    • Visions Barber — 3545 Ridgeway Rd, Memphis, TN 38115
    • Hickory Ridge Mall — 6075 Winchester Rd, Memphis, TN 38115

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.842737
    Latitude
    35.0510609

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    FAQs

    What type of property is this?
    Shopping center - Well-known retail center with high visibility and convenient access.
    Where is this shopping center located?
    The property is located at 6616 Winchester Rd Memphis, TN.
    What are key features of this property?
    This property features: High traffic location on Winchester Road with excellent visibility.; Anchored by established businesses including Winchester Farmer’s Market.; Proximity to national retailers like Dollar General and The Home Depot.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mike Chung
    Real Estate License ID: CA
    Learn More
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    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
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