Multi-Tenant Storefront
For Sale
$650,000
711 N Main St, Covington, TN 38019
Storefront property with four current occupants, service-road access, and parking surrounding the building.
Property Size4,026 SF
Price / SF$161.45
Days on Market10
Property Features for 711 N Main St
General Information
Standard status
Active
Size
4,026 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Amenities
Lot Size Acres: 0.51
Asphalt Roof
Sewer Type: Municipal
Percentage of Tax that is Deductable: 0
Vinyl Floor, Laminate Floor
Has Central AC: 1
Forced Air Heating
Sale, Sale Type: Foreclosure, Availability Date: 2026-10-01
Building Style: Walk-up, Built in 1989, Community Laundry
Above Area Square Feet: 4026, Street View
Water Source: Municipal
Construction Type: Masonry - Brick
Corner Unit, Sprinklers
Brick Siding
Building Details
Year Built
1989
Buildings
1
Tenancy
Multi
Listing Agency:
Tiger Realty
(901) 770-7835
Listed By:
Carol Scott
(901) 770-7835
Source:
Doyle-realty
Added: Aug 20
Changed: Aug 27
Last Checked: Aug 28 at 12:59PM
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 storefront property contains 4,026 square feet and was built in 1989. The building is occupied by four tenants, with two suites separately metered. Parking is available along the front, sides, and rear, supporting convenient access for occupants and visitors.
The property is located at 711 N Main St in Covington, with visibility from Highway 51 and access via a service road. Nearby schools include Covington High School, Crestview Elementary School, and Crestview Middle School, all within the Tipton County School District.
The property is located at 711 N Main St in Covington, with visibility from Highway 51 and access via a service road. Nearby schools include Covington High School, Crestview Elementary School, and Crestview Middle School, all within the Tipton County School District.
Key Highlights
- 4,026‑square‑foot storefront building constructed in 1989
- Four tenants currently occupy the property
- Visibility from Highway 51 with service‑road access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,177
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$943,540
$943.5K
Cap Rate 7%
$673,957
$674.0K
Cap Rate 9%
$524,189
$524.2K
Market Conditions
NOI Build-Up for 4,026 SF
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.
Gross rent
$72.5K $18.00/SF
− Vacancy
−$5.1K −$1.26/SF
EGI
$67.4K $16.74/SF
− OpEx
−$20.2K −$5.02/SF
NOI
$47.2K $11.72/SF
Area
Tipton County, TN
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$943,540
Cap Rate 7%
$673,957
Cap Rate 9%
$524,189
Alternative Uses
Best Use
Retail
$674.0K
$589.7K – $786.3K
NOI $47,177 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$934.8K – $1.25M
NOI $74,787 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
7k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 90%
Shops & Services 10%
Little Caesars Pizza
Dining
6,235 visits/mo
0.5 miles
Enterprise Rent-A-Car
Shops & Services
722 visits/mo
0.5 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Storefront property with four current occupants, service-road access, and parking surrounding the building.
Where is this storefront property located?
The property is located at 711 N Main St Covington, TN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 4,026‑square‑foot storefront building constructed in 1989; Four tenants currently occupy the property; Visibility from Highway 51 with service‑road access
