Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1661 International Dr Memphis, TN 38120
    Back to Search
    Property profile & analytics

    1661 International Dr, Memphis, TN 38120

    View on Map
    • Office buildings
    • 96,756 SF
    • 3.79 lot acres
    For Lease
    $22 SF/Yr
    View Listing →
    Stylish Memphis Office Space For Lease
    $22 SF/Yr

    Stylish Memphis Office Space

    Modern office space with amenities in East Memphis.

    1661 International Dr, Memphis, TN 38120
    View Listing
    Property ID
    US80-1863085
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 1661 International Dr

    Year built
    1998
    Lot size
    3.79 lot acres
    Zone code
    R-15
    Property type
    Office buildings
    APN
    080-008- - -00411
    APU
    8000800411

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $26,320,000
      6.5%
      $24,295,000
      7%
      $22,560,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $16,527,000
      Market price range: $11.1M - $23.9M
      AI Estimate
      $15,564,000
      Market price range: $4.10M - $27.4M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $16,730,000
      Current use
      RESTAURANT
      $29,795,000
      Change: +78% Conversion: Moderate
      MEDICAL BUILDING
      $13,840,000
      Change: -17% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8491
    Latitude
    35.1033
    CBSA code
    32820
    CBSA name
    MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $295,228
    $1,062,240
    $3,784,200
    $4,846,440
    -
    $2,655,600
    $9,460,500
    $12,116,100

    Comparable in this City

    • Value Estimation
      $11,155,000
      55,676 SF

      813 Rdg Lk Blvd

      OFFICE BUILDING
      813 Rdg Lk Blvd, Memphis, TN 38120-9403
      View Details
    • Value Estimation
      $32,780,000
      195,267 SF

      350 Humphreys Blvd

      OFFICE BUILDING (MULTI-STORY)
      350 Humphreys Blvd, Memphis, TN 38120-2177
      View Details
    • Value Estimation
      $7,680,000
      89,248 SF

      855 Rdg Lk Blvd

      OFFICE BUILDING (MULTI-STORY)
      855 Rdg Lk Blvd, Memphis, TN 38120-9438
      View Details
    • Value Estimation
      $2,025,000
      9,255 SF

      5880 Rdg Bnd Rd

      OFFICE BUILDING
      5880 Rdg Bnd Rd, Memphis, TN 38120-9416
      View Details
    • Value Estimation
      $14,325,000
      63,413 SF

      1661 Aaron Brenner Dr

      OFFICE BUILDING
      1661 Aaron Brenner Dr, Memphis, TN 38120-1468
      View Details
    • Value Estimation
      $31,395,000
      187,026 SF

      949 Shady Grv S Rd

      OFFICE BUILDING (MULTI-STORY)
      949 Shady Grv S Rd, Memphis, TN 38120-4131
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      East Memphis Class A Office

      Luxury office space with building signage in East Memphis.
      825 Valleybrook Dr, Memphis, TN 38120
      View Details
    • Contact for pricing
      1,582 SF

      Ground Floor Office Condo

      Office condo for sale with exterior maintenance included.
      6373 N Quail Hollow Rd, Memphis, TN 38120
      View Details
    • Contact for pricing

      East Memphis Specialty Retail Center

      High-end retail center at Poplar and Ridgeway in Memphis.
      6150 Poplar Ave, Memphis, TN 38120
      View Details
    • $225,000
      0.41 Acres

      Residential Lot in Gated Community

      Residential lot in prime location near Lausanne School.
      6536 River Green Cv, Memphis, TN 38120
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,611 SF

      Class A Office Building

      Nine-story Class A office building in Poplar Corridor.
      1715 Aaron Brenner Dr, Memphis, TN 38120
      View Details
    • Contact for pricing
      3,885 SF

      Class B Office Space Available

      Two-story office building with flexible space and convenient parking.
      5865 Ridgeway Center Pkwy, Memphis, TN 38120
      View Details
    • Contact for pricing
      2,457 SF

      Renovated Office Building For Lease

      Six-story office building with ample parking and renovated lobby.
      855 Ridge Lake Blvd, Memphis, TN 38120
      View Details
    • Contact for pricing
      4,323 SF

      Class B Office Space Available

      Class B office building with on-site management and convenient parking.
      5885 Ridgeway Center Pkwy, Memphis, TN 38120
      View Details
    • Contact for pricing
      18,468 SF

      East Memphis Office Space Available

      Class A office building in central East Memphis location.
      5350 Poplar Ave, Memphis, TN 38120
      View Details
    • Contact for pricing
      6,645 SF

      East Memphis Class A Office

      Class A office space in booming East Memphis submarket.
      949 South Shady Grove Rd, Memphis, TN 38120
      View Details
    View Listing
    Request Owner's contact information
    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.
    1661 International Dr
    Memphis, TN 38120
    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
    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

    Thank You for Inquiry
    1661 International Dr, Memphis, TN, 38120
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!