107 Court SqCovington, TN 38019

Property Details for 107 Court Sq

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.08 AC

Property size (Sq ft)

7,995 SF

Property type

Retail properties

Property subtype

Retail space

APN

084041C L 01600

APU

084041CL01600

Description

This exceptional 7,750 square foot storefront at 107 W Court Square in Covington, Tennessee, presents a rare investment opportunity. Priced at $359,000 ($46.32/sq ft), this property offers versatile space ideal for retail or office use. The building features two floors suitable for retail and a third floor designed for office space. Its prime location on the historic Court Square places it within easy reach of Covington's vibrant downtown area. Furthermore, this property benefits from its location in an Opportunity Zone, offering potential tax advantages for investors. The proximity to the new Blue Oval City development adds significant long-term growth potential. This is a unique chance to acquire a substantial commercial property in a rapidly developing area of Tennessee. The building's size and flexible layout provide ample space for a variety of businesses. The address is 107 W Court Square, Covington, TN 38019. This is a turnkey opportunity for a savvy investor seeking a strong return on investment in a thriving community. The property's historical context and strategic location combine to create a compelling investment proposition. Don't miss this chance to own a piece of Covington's revitalized downtown.

• CAP approach

  CAP return

  Valuation

  6%

  $2,686,406

  6.5%

  $2,479,760

  7%

  $2,302,634

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,570,691

  Geo Method

  $1,570,691

• Alternative Use

  Use

  Valuation

  Residential

  $2,091,770

  Hospitality

  $1,916,050

  Educational

  $1,594,131

  Medical

  $1,648,956

  Retail

  $2,479,760

Location Insight

City

Covington

County

Tipton

State

Tennessee

Latitude

35.5643

Longitude

-89.6469

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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