Pediatric Medical
New
For Sale
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2860 COVINGTON PIKE, Memphis, TN 38128
Established pediatric practice serving Memphis-area children and adolescents from a medical center built in 1997.
Property Size19,550 SF
Price / SF$182.81
Days on Market5
Property Features for 2860 COVINGTON PIKE
General Information
Standard status
Active
Size
19,550 SF
Property subtype
Office
Occupancy
100%
Net Operating Income
$250,170
Additional Details
Business Included
Yes
Building Details
Year Built
1997
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Nashville
Listed By:
Jason Hernandez · License #CA 01392646
Source:
Crexi
Added: Jul 31
Changed: Aug 4
Last Checked: Aug 4 at 2:15AM
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 Marcus & Millichap - Nashville
Investment Insights
Based on property information with market context.
The subject property is associated with Raleigh Group, a pediatric medical provider serving the greater Memphis area. The practice delivers pediatric and adolescent care and is recognized as both a Patient-Centered Medical Home and an NCQA-recognized practice. Raleigh Group was founded in 1977 and operates two pediatric medical locations, including the subject property and a second location in Eads, Tennessee.
Located at 2860 Covington Pike in Memphis, Tennessee, the property sits within the Raleigh suburb of Memphis. The organization’s Memphis MSA footprint is concentrated in demographic corridors identified in the source information as supporting consistent patient volume and long-term pediatric care.
Located at 2860 Covington Pike in Memphis, Tennessee, the property sits within the Raleigh suburb of Memphis. The organization’s Memphis MSA footprint is concentrated in demographic corridors identified in the source information as supporting consistent patient volume and long-term pediatric care.
Key Highlights
- Pediatric and adolescent medical care provider
- Patient‑Centered Medical Home designation
- NCQA‑recognized practice
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $434.0k | $22.20 |
| − Vacancy | −$69.4k | −$3.55 |
| EGI | $364.6k | $18.65 |
| − OpEx | −$91.1k | −$4.66 |
| NOI | $273.4k | $13.99 |
19,550 SF · lease $22.20/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.91M
$3.42M – $4.56M
NOI $273,426 @ 7.0% cap · market cap 7.65%
Second Best
Healthcare Medical
$3.33M
$2.91M – $3.88M
NOI $233,099 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$5.19M
$4.54M – $6.05M
NOI $363,161 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
417
Businesses Nearby
Explore this area
Business Placement
Demographics for 38128, TN
43,197
Population
18,388
Households
2.3
Avg Household Size
32
Median Age
15%
College-Educated
85%
High-School Grad
23.6 sq mi
ZIP Area
1,830
Density / Sq Mi
$43,166
Median Household Income
$32,429
Median Earnings
$1,150
Median Rent
$123,900
Median Home Value
Market
Vacancy Rate% for Office in Memphis, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Established pediatric practice serving Memphis-area children and adolescents from a medical center built in 1997.
Where is this medical center located?
The property is located at 2860 COVINGTON PIKE Memphis, TN.
What is the asking price?
The asking price for this property is $3,573,863.
What are key features of this property?
This property features: Pediatric and adolescent medical care provider; Patient‑Centered Medical Home designation; NCQA‑recognized practice
