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    51 U.s North Covington, TN 38019

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    For Sale
    $425,000

    Multitenant retail property with high visibility and ample parking.

    Property size:
    6,375 SF

    Property Features for 51 U.s North

    General Information

    Size
    6,375 SF

    Building Details

    Year built
    1989

    Source: Brian Califf, CCIM Agent Brian Califf, CCIM

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Retail Property on Highway 51

    This multitenant retail property offers 6,375 square feet of space in a high-traffic location. Constructed in 1989, the property is situated on approximately 0.53 acres. The retail strip center is located in Covington, Tennessee, within Tipton County. The property features a prominent pylon sign to maximize visibility. It offers easy access from Highway 51 and includes ample on-site parking for both tenants and customers. The property is intended for investment purposes and is currently 83.33% occupied, featuring six tenant spaces.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Map

    City
    Covington
    County
    Tipton
    State
    Tennessee
    Longitude
    -89.6247
    Latitude
    35.5637

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    FAQs

    What type of property is this?
    Strip mall - Multitenant retail property with high visibility and ample parking.
    Where is this strip mall located?
    The property is located at 51 U.s North Covington, TN.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: - High-traffic location with **strong visibility from Highway 51**; - **Stable rental income with an in-place cap rate of 7.24%**; - Multi-tenant retail property with 6 tenant spaces and 83.33% occupancy
    (901) 830-0421
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    51 U.s North Covington, TN 38019
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    Covington, TN 38019
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    51 U.s North Covington, TN 38019
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