115 Munford StCovington, TN 38019

Property Details for 115 Munford St

Year built

1938

Lot size

0.04 AC

Property size (Sq ft)

1,400 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

084041C A 00800

APU

084041CA00800

Description

This exceptional commercial property, located at 115 Munford Street in Covington, Tennessee, presents a unique investment opportunity. Situated directly off the vibrant Covington town square, this building enjoys significant foot traffic from numerous city events. Currently zoned for medical use, the property offers considerable versatility and potential for a wide range of professional services. The building's prime location makes it ideal for a small business seeking high visibility and accessibility. The recent price reduction makes this an even more compelling proposition for savvy investors. While the square footage is not currently specified, the property's strategic location and zoning flexibility outweigh this detail. The building's potential is undeniable, given its proximity to the bustling town square and the diverse range of businesses that could thrive in this high-traffic area. This is a chance to acquire a well-positioned commercial space in a thriving community, offering both immediate income potential and long-term growth prospects. The property sits on a lot of zero acres, making it a compact and manageable investment. Don't miss this chance to own a piece of Covington's vibrant downtown. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $320,010

  6.5%

  $295,394

  7%

  $274,294

• Comparable approach

  Method

  Valuation

  Relative Method

  $109,144

  Geo Method

  $109,144

• Alternative Use

  Use

  Valuation

  Residential

  $366,289

  Hospitality

  $335,518

  Educational

  $279,147

  Medical

  $288,748

  Retail

  $434,229

Location Insight

City

Covington

County

Tipton

State

Tennessee

Latitude

35.564

Longitude

-89.6481

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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