2444 Covington PikeMemphis, TN 38128

Property Details for 2444 Covington Pike

Year built

1987

Lot size

1.32 AC

Property size (Sq ft)

512 SF

Zone code

CMU-3

Property type

Auto shops

APN

088-031- - -00045

APU

8803100045

Description

This exceptional investment opportunity presents a prime mixed-use property ideally suited for an auto dealership or similar business. Located at 2444-2466 Covington Pike in Memphis, Tennessee, this property boasts a highly visible location near a major intersection, ensuring significant traffic exposure. The offering includes two freestanding buildings, totaling approximately 3,159 net rentable square feet, constructed in 1979 and 1987, with significant renovations completed in 2017. Each building features offices, restrooms, and drive-in bays, perfectly designed for automotive services. The property sits on a nearly two-acre lot (1.82 acres), providing ample space for vehicle display – approximately 60 spaces are available. Two dedicated detailing bays are also included. The property benefits from a fully fenced perimeter, two convenient curb cuts for easy access, and a newer roof and HVAC system. Currently operating as a successful, owner-operated, high-end pre-owned auto dealership, this property is being offered for sale as the owner is downsizing their operations. The asking price is $1,350,000, and owner financing may be considered. Lease options are also available. The sale includes only the land and buildings

• CAP approach

  CAP return

  Valuation

  6%

  $108,443

  6.5%

  $100,102

  7%

  $92,952

• Comparable approach

  Method

  Valuation

  Relative Method

  $100,587

  Geo Method

  $100,587

• Alternative Use

  Use

  Valuation

  Residential

  $84,440

  Hospitality

  $77,346

  Educational

  $64,351

  Medical

  $66,564

  Retail

  $100,102

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.192

Longitude

-89.8949

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].