High Traffic Retail Center
For Lease
Contact for pricing
3024 Covington Pike, Memphis, TN 38128
Retail space in high-traffic area near major retailers.
Space Size4,000 SF
Property Size20,000 SF
Days on Market1201
Property Features for 3024 Covington Pike
General Information
Standard status
Active
Size
4,000 SF
Class
B
Property subtype
Retail, Restaurant, Office
Lease Type
NNN
Building Details
Building Size
20,000 SF
Year Built
1974
Tenancy
Multiple
Spaces For Lease
at 3024 Covington Pike Contact us- Size
- 4,000 SF
- Type
- Office, Restaurant, Retail
- Lease Type
- NNN
- Availability
- Active
3024#3
Listing Agency:
MMIC Inc
Listed By:
Arthur Malkin · License #TN 253811
(901) 761-1002
Source:
Crexi
Added: May 22, 2023
Changed: Aug 23
Last Checked: Aug 31 at 9:38AM
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 MMIC Inc
Investment Insights
Based on property information with market context.
Located in a high-traffic retail center, this space is suitable for a restaurant, convenience store, beauty supply outlet, or other retail business. The property is situated in the largest growing intersection in the Raleigh Bartlett area, adjacent to a new Walgreens and across from a new Regions Bank, Taco Bell, Home Depot, Marshalls, and Burlington Coat Factory. The location benefits from substantial traffic generated by nearby restaurants, financial services, a phone store, a liquor store, and high-volume medical practices, including medical offices and dental practices. Positioned on the northeast corner of Covington Pike and Stage Road, next to Walgreens, the property is part of a mixed-use office and retail development totaling approximately 44,000 square feet.
Key Highlights
- High‑traffic location at the intersection of Covington Pike and Stage Road.
- Located in a large, growing retail center.
- Adjacent to a new Walgreens.
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$1.80 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
164k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 33%
Home Improvements & Furnishings 22%
Shops & Services 21%
Dining 19%
The Home Depot
Home Improvements & Furnishings
33,732 visits/mo
0.3 miles
Marshalls
Apparel
33,197 visits/mo
0.1 miles
Burlington
Apparel
21,086 visits/mo
0.2 miles
Circle K
Shops & Services
16,340 visits/mo
0.1 miles
Taco Bell
Dining
15,382 visits/mo
0.1 miles
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
Lease Benchmarks for Memphis, TN
$13.72 /SF/Yr
Avg Asking Price
$8.33–$20.8 /SF/Yr
Price Range
10,771 SF
Avg Space Size
This space is priced 13% below the average of $13.72 /SF/Yr.
Vacancy Rate% for Retail in Memphis, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space in high-traffic area near major retailers.
Where is this retail space located?
The property is located at 3024 Covington Pike Memphis, TN.
What is the lease rate?
The lease rate is $12 SF/Yr.
What are key features of this property?
This property features: High‑traffic location at the intersection of Covington Pike and Stage Road.; Located in a large, growing retail center.; Adjacent to a new Walgreens.
