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    3842-3850 Austin Peay Hwy Memphis, TN 38128

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    For Lease
    Contact for pricing

    Neighborhood shopping center near Walmart, Kroger, and Methodist North Hospital.

    Property size:
    2,072 SF
    Lot size:
    11.81 Acres

    Property Features for 3842-3850 Austin Peay Hwy

    General Information

    Size
    2,072 SF
    Lot size
    11.81 Acres

    Source: Jones Aur Commercial Real Estate | Memphis Agent Dustin Jones

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

    Overview

    Retail Space in Covington Springs

    Multiple suites are available for rent in Covington Springs, a neighborhood shopping center located off Austin Peay Highway. The center is a shadow center to Walmart and Kroger. It benefits from close proximity to new developments on Austin Peay Highway, including a newly constructed Chick-Fil-A, Starbucks, and Bojangles. The property is less than 2 miles away from the new Raleigh Springs Civic Center, which includes the Austin Peay Police Station and the Raleigh Public Library. Adjacent to Methodist North Hospital, a 246-bed facility, the center experiences significant traffic. Current tenants include Dollar Tree, Goodwill, CATO, American Deli, and Fresenius Kidney Care. Traffic counts on Austin Peay Highway are 23,170 AADT. Available spaces range up to 2072 square feet.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8979707
    Latitude
    35.2311425

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    FAQs

    What type of property is this?
    Strip mall - Neighborhood shopping center near Walmart, Kroger, and Methodist North Hospital.
    Where is this strip mall located?
    The property is located at 3842-3850 Austin Peay Hwy Memphis, TN.
    What are key features of this property?
    This property features: - Shadow center to Walmart and Kroger providing significant customer traffic.; - High traffic location on Austin Peay Highway (23,170 AADT).; - Adjacent to Methodist North Hospital, a major medical facility.
    (901) 581-5049
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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
    3842-3850 Austin Peay Hwy Memphis, TN 38128
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