Family Dollar NNN
For Sale
Contact for pricing
605 Hwy 51 N, Covington, TN 38019
Corporately guaranteed lease with tenant responsibility for HVAC, taxes, and insurance.
Property SizeContact for details
Days on Market143
Property Features for 605 Hwy 51 N
General Information
Standard status
Active
Property subtype
Retail
Listing Agency:
Matthews
Listed By:
Brett Baumgartner · License #TX 701324
Source:
Crexi
Added: Apr 11
Changed: Aug 31
Last Checked: Aug 30 at 7:48AM
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 Matthews
Investment Insights
Based on property information with market context.
The Family Dollar property at 605 Hwy 51 N in Covington, TN, includes an approximately 11,270-square-foot retail store. Family Dollar executed a new 10-year lease in 2021, with approximately 8.25 years remaining on the primary term. The lease is corporately guaranteed, and the tenant is responsible for HVAC, taxes, and insurance.
The property sits near a signalized intersection with reported traffic of 18,939 VPD and direct access to Highway 51, which connects Covington with downtown Memphis, approximately 38 miles away. Nearby retail and commercial operators include Save A Lot, Popeye’s, Wendy’s, McDonald’s, Walgreens, AutoZone, Dollar General, Tractor Supply, Taco Bell, Rent-A-Center, Advance Auto Parts, and Harbor Freight Tools.
The property sits near a signalized intersection with reported traffic of 18,939 VPD and direct access to Highway 51, which connects Covington with downtown Memphis, approximately 38 miles away. Nearby retail and commercial operators include Save A Lot, Popeye’s, Wendy’s, McDonald’s, Walgreens, AutoZone, Dollar General, Tractor Supply, Taco Bell, Rent-A-Center, Advance Auto Parts, and Harbor Freight Tools.
Key Highlights
- Family Dollar executed a new 10‑year lease in 2021
- Approximately 8.25 years remain on the primary lease term
- Corporately guaranteed lease with tenant responsibility for HVAC, taxes, and insurance
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
96k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 24%
Groceries 5%
Hotels & Casinos 2%
McDonald's
Dining
19,107 visits/mo
0.5 miles
SONIC Drive In
Dining
13,003 visits/mo
0.2 miles
Scooter's Coffee
Dining
12,777 visits/mo
0.2 miles
MAPCO Mart
Shops & Services
8,780 visits/mo
0.3 miles
Wendy's
Dining
8,771 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Corporately guaranteed lease with tenant responsibility for HVAC, taxes, and insurance.
Where is this nnn property located?
The property is located at 605 Hwy 51 N Covington, TN.
What are key features of this property?
This property features: Family Dollar executed a new 10‑year lease in 2021; Approximately 8.25 years remain on the primary lease term; Corporately guaranteed lease with tenant responsibility for HVAC, taxes, and insurance
