Medical Building with Exam
For Sale
$399,000
1721 Highway 51 S, Covington, TN 38019
Medical building featuring multiple exam rooms and dedicated parking.
Property Size2,000 SF
Price / SF$199.50
Days on Market146
Property Features for 1721 Highway 51 S
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Commercial
Amenities
Lot Size Acres: 1
Asphalt Roof
Sewer Type: Municipal
Percentage of Tax that is Deductable: 0
Linoleum Floor
Has Central AC: 1
Forced Air Heating, Natural Gas Heat Fuel
Sale, Sale Type: Foreclosure
Basement Type: Slab
One Story, Built in 1989
Above Area Square Feet: 2000
3 Half Baths
Water Source: Municipal, Natural Gas Available
Amps: 200
Construction Type: Masonry - Brick
Alarm
Brick Siding
Building Details
Year Built
1989
Listing Agency:
Tiger Realty
Listed By:
Jim Williams · License #327170
(901) 770-7835
Source:
Doyle-realty
Added: May 21
Changed: Oct 13
Last Checked: Oct 12 at 8:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tiger Realty
Investment Insights
Based on property information with market context.
This medical building includes an office, break room, counseling area, and four exam rooms. The large waiting room features a guest restroom. In the treatment area, there are two staff/patient restrooms. Patient parking is available in the front, with staff parking located in the rear. Note that the medical equipment is not included in the sale.
Key Highlights
- Medical building featuring 4 exam rooms
- Large waiting room with guest restroom
- Includes office break room and counseling area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,250
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,000
$505.0K
Cap Rate 7%
$360,714
$360.7K
Cap Rate 9%
$280,556
$280.6K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$40.1K $20.04/SF
− Vacancy
−$6.4K −$3.21/SF
EGI
$33.7K $16.83/SF
− OpEx
−$8.4K −$4.21/SF
NOI
$25.3K $12.63/SF
Area
Tipton County, TN
Vacancy
16.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,000
Cap Rate 7%
$360,714
Cap Rate 9%
$280,556
Alternative Uses
Best Use
Office B
$360.7K
$315.6K – $420.8K
NOI $25,250 @ 7.0% cap · market cap 6.33%
Second Best
Healthcare Medical
$344.4K
$301.3K – $401.8K
NOI $24,106 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$530.7K
$464.4K – $619.2K
NOI $37,152 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 38019, TN
15,129
Population
6,543
Households
2.3
Avg Household Size
40
Median Age
15%
College-Educated
88%
High-School Grad
140.6 sq mi
ZIP Area
108
Density / Sq Mi
$59,957
Median Household Income
$38,118
Median Earnings
$912
Median Rent
$195,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Covington Animal Clinic — 1281 U.S. 51 S, Covington, TN 38019
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical building featuring multiple exam rooms and dedicated parking.
Where is this medical office space located?
The property is located at 1721 Highway 51 S Covington, TN.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Medical building featuring 4 exam rooms; Large waiting room with guest restroom; Includes office break room and counseling area
