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    3030 Covington Pike Memphis, TN 38128

    Sponsored
    For Lease
    $12 SF/Yr

    Prime Medical/Executive Office Suites Available

    Lot size:
    20,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Covington Commons - Medicos Center offers exceptional office space in a thriving Shelby County location. This Class C, two-story building totaling 20,000 square feet underwent renovations in 2018. Currently, 5,810 square feet of space is available, divisible into units as small as 310 square feet, with a maximum contiguous space of 3,880 square feet. The building features multiple tenancies and convenient elevator access. Its strategic location at a high-traffic intersection near Stage Cross Street places it amidst a vibrant mixed-use area. Benefit from the synergy of neighboring national tenants, including Home Depot, Burlington, and Walgreens, along with a variety of medical facilities, pharmacies, and restaurants. This property presents a unique opportunity for businesses seeking flexible, well-located office space in a bustling commercial environment. The building's modern amenities and prime location make it an ideal choice for medical practices, executive offices, or other professional businesses. The minimum leasable space is 310 square feet, offering flexibility for businesses of various sizes.

    Property Features for 3030 Covington Pike

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    20,000 SF
    Class
    C
    Total Rate
    20833.33

    Building Details

    Year Renovated
    2018
    Stories
    2

    Unit(s) available at that property

    Space
    3030 #220-240
    Size
    3,880 SF
    Rate per SF
    $12
    Space
    3030 #270
    Size
    1,220 SF
    Rate per SF
    $12
    Space
    3030 #241
    Size
    310 SF
    Rate per SF
    $13

    HighLights

    • 20,000 SF Class C office building in Shelby County.
    • Multiple tenancies available, ranging from 310 SF to 3,880 SF contiguous.
    • 5,810 SF currently vacant.
    • Renovated in 2018.
    • Two‑story building with elevator.
    • Located at a high‑traffic intersection near Home Depot, Burlington, Walgreens, and other national retailers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dove Family Dentistry ... Dentist Dr. Joseph F. ... Dentist Clinica Camellia Walk-In Clinic Wojcik Richard P ... Accountant Drewry Jimmie D Insurance Attorney

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8938485
    Latitude
    35.2085297

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    FAQs

    What type of property is this?
    Medical office - Prime Medical/Executive Office Suites Available
    Where is this medical office located?
    The property is located at 3030 Covington Pike Memphis, TN.
    What is the lease rate?
    The lease rate is $12-$13 SF/Yr.
    What are key features of this property?
    This property features: 20,000 SF Class C office building in Shelby County.; Multiple tenancies available, ranging from 310 SF to 3,880 SF contiguous.; 5,810 SF currently vacant.
    Request Owner's contact information
    3030 Covington Pike Memphis, TN 38128
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3030 Covington Pike Memphis, TN 38128
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