2974 Covington PikeMemphis, TN 38128

Property Details for 2974 Covington Pike

Year built

1987

Lot size

4.40 AC

Property size (Sq ft)

37,121 SF

Zone code

CMU-2

Property type

Retail properties

Property subtype

Strip malls

APN

088-012- - -00141-C

APU

08801200141C

Description

This exceptional 570-square-foot retail or restaurant space is ideally situated at the corner of Covington Pike and Stage Road in Memphis, Tennessee. Located in Shelby County, this single-tenant property offers a fantastic opportunity for a variety of businesses. The building's entire 570 square feet is currently vacant, providing immediate occupancy for a new tenant. The property's "outparcel" designation suggests convenient access and high visibility from the street. Its location at a major intersection ensures significant foot and vehicle traffic, making it an attractive location for businesses seeking high exposure. The property is classified as both retail and restaurant-suitable, indicating its versatility and potential to accommodate a range of commercial uses. The address is 2974 Covington Pike, Memphis, TN 38128. This prime location presents a unique chance to establish a thriving business in a high-traffic area. The property's size makes it suitable for a smaller-scale operation or a satellite location for an existing business. Serious inquiries are encouraged to explore the possibilities of this exceptional commercial property. The property is ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $7,862,365

  6.5%

  $7,257,568

  7%

  $6,739,170

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,292,762

  Geo Method

  $7,292,762

• Alternative Use

  Use

  Valuation

  Residential

  $6,122,030

  Hospitality

  $5,607,746

  Educational

  $4,665,580

  Medical

  $4,826,036

  Retail

  $7,257,568

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.2058

Longitude

-89.8937

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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