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Property profile & analytics
FOR SALE
Office buildings
661 Madison Ave, Memphis, TN 38103
Entity Owned
Free & Clear
Property ID
US80-1850802
For Sale
1 / 29
$595,000
661 Madison Ave, Memphis, TN 38103
View Listing →
Property summary
AI-generated overview
This exceptional 3,616 square foot Class B office building, located at 661 Madison Avenue in Memphis, Tennessee, presents a unique opportunity. Completely renovated in 2023, this property is ideally suited for medical or executive office use. The building sits on a 0.304-acre lot (APN: 00703300007C) and is largely furnished, making it truly move-in ready. Its prime location within Memphis's Medical District offers excellent visibility and accessibility for service-based businesses. The surrounding area has also seen significant upgrades in the last three years, further enhancing the property's value and appeal. This freestanding building offers a blend of convenience and modern amenities, making it an attractive option for businesses seeking a well-maintained and immediately usable space. The property's zip code is 38103, and it is situated in Shelby County. This is a rare opportunity to acquire a turnkey office space in a thriving Memphis location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Total area
3,616 SF
Lot
0.3 ac (13,242 SF)
Zoning code
CBD
APN
007-033- - -00007-C
UPID
US80-1850802
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Bushard Jannette M DO Physician
-
Open Minds Local Government Office
-
Inspire Counseling & Support Center Doctor Mental Health Clinic
-
Monroe W Gibbs & Associates Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
The Transition House INC
The Transition House INC
since 2025
2 recorded transactions
Zoning & alternative use
CBD · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Memphis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Memphis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$5,950
Tax year 2022
Assessed value
$97,680
Assessed 2023
Previous assessed
$97,680
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$61,200
Assessed improvement
$36,480
Land market value
$153,000
Improvement market value
$91,200
Total market value
$244,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1950
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
3,616 SF
Lot
0.3 ac (13,242 SF)
Zoning code
CBD
APN
007-033- - -00007-C
UPID
US80-1850802
Jurisdiction
SHELBY
Zoning & alternative use
CBD · Memphis, TN
Zoning CBD · permitted uses
CBD · Memphis, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Memphis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
The Transition House INC
Entity
Free & Clear · 0 yrs held
Mailing address
3800 5TH ST, SAINT CLOUD, FL 34769-2024
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2025
—
The Transition House INC
The Transitions House Of Tennessee
Deed
related
—
Aug 8, 2018
$437,500
Transition Hse Of Tennessee In
Gibbs,hettie S
Warranty Deed
$430,000 · Centerstate Bk NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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