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    2940 Covington Pike Memphis, TN 38128

    Sponsored
    For Lease
    Contact for pricing

    Memphis retail space, ample parking.

    Lot size:
    37,246 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Village on the Pike, a Memphis, Tennessee retail strip center located at 2940 Covington Pike, offers exceptional opportunities for businesses seeking high-visibility locations. This established shopping center boasts a total of 37,246 square feet, currently featuring three suites. There is a significant amount of vacant space totaling 7,975 square feet, providing immediate occupancy options for prospective tenants. The minimum divisible space is 1,275 square feet, ideal for smaller businesses, while larger tenants can occupy up to 5,300 contiguous square feet. The property benefits from ample parking, ensuring convenient access for customers and employees. Situated at the corner of Covington Pike and Stage Road in Shelby County (zip code 38128), this center enjoys excellent visibility and accessibility within a thriving neighborhood shopping environment. The property is classified as a retail strip center and is perfect for a variety of retail uses. This prime location presents a unique chance to establish or expand your business in a high-traffic area of Memphis.

    Property Features for 2940 Covington Pike

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    37,246 SF

    Unit(s) available at that property

    Space
    Suite 2950
    Size
    1,400 SF
    Space
    Suite 2962
    Size
    1,275 SF
    Space
    Suite 2958
    Size
    5,300 SF

    HighLights

    • Excellent visibility and access from Stage Road and Covington Pike.
    • Ample parking directly in front of the center.
    • Double drive‑thru opportunity available.
    • Strong tenant mix including Home Depot, Burlington, Marshalls, and Walgreens nearby.
    • Existing tenants include Davita, Dollar General, Goodwill, Metro by T‑Mobile, Subway, and First Horizon.
    • High traffic counts: 22,515 AADT on Stage Road and 25,129 AADT on Covington Pike.
    Property Profile Location Intelligence

    Current Use by Public Records

    CB Richard Ellis Real Estate Agency

    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
    -89.8936639
    Latitude
    35.2058934

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    FAQs

    What type of property is this?
    Neighborhood center - Memphis retail space, ample parking.
    Where is this neighborhood center located?
    The property is located at 2940 Covington Pike Memphis, TN.
    What are key features of this property?
    This property features: Excellent visibility and access from Stage Road and Covington Pike.; Ample parking directly in front of the center.; Double drive-thru opportunity available.
    Request Owner's contact information
    2940 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
    2940 Covington Pike Memphis, TN 38128
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