3544 Covington PikeMemphis, TN 38128

Property Details for 3544 Covington Pike

Year built

2012

Lot size

0.88 AC

Property size (Sq ft)

8,000 SF

Zone code

CMU-2

Property type

Retail space

APN

087-011- - -00063

APU

8701100063

Description

This 8,000-square-foot freestanding building, formerly a Family Dollar, presents a compelling investment opportunity in Memphis, Tennessee. Constructed in 2012, the property sits on a sizable 0.88-acre lot and offers significant potential for expansion, up to 9,000 square feet, with ample existing parking. The building features a pylon sign, three-phase electrical service, and energy-efficient LED lighting. With 30 parking spaces readily available, this property is well-suited for a variety of retail or commercial uses. Its strategic location, just 0.8 miles from Methodist North Hospital, makes it particularly attractive for medical-related businesses seeking a convenient and accessible location. The asking price is $799,000, translating to $99.88 per square foot. This single-story building offers a unique chance to acquire a well-maintained commercial space in a thriving area of Memphis. The property's features and location combine to create a strong investment opportunity for owner-users or those seeking retail repurposing. All information is deemed reliable but not guaranteed.

• CAP approach

  CAP return

  Valuation

  6%

  $1,694,430

  6.5%

  $1,564,089

  7%

  $1,452,368

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,571,674

  Geo Method

  $1,571,674

• Alternative Use

  Use

  Valuation

  Residential

  $1,319,368

  Hospitality

  $1,208,534

  Educational

  $1,005,486

  Medical

  $1,040,066

  Retail

  $1,564,089

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.2232

Longitude

-89.8936

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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