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    829 Us-51 Covington, TN 38019

    For Lease
    $14 SF/Yr ($3,238 /Mo)

    Prime Covington Restaurant Space. High-traffic location.

    Lot size:
    2,776 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional restaurant opportunity is located at 829 Hwy 51 N, Covington, TN 38019, on a 0.38-acre lot. The property, a former Pizza Hut, boasts a total of 2,776 square feet of space, currently vacant and ready for immediate occupancy. The building is situated on a highly visible corner lot at the intersection of Hwy 51 N and Deena Cove, ensuring excellent exposure to a large volume of daily traffic. Ample parking is available with 30 spaces provided for patrons and staff. The property's classification as a Quick Service Restaurant (QSR) suggests suitability for a variety of fast-casual dining concepts. The single-tenant occupancy offers flexibility and control for the new owner or operator. Located in the Covington submarket of Tipton County, Tennessee, this property presents a unique chance to establish or relocate a thriving restaurant business in a well-established commercial area. The building's existing infrastructure provides a solid foundation for a quick and efficient renovation or build-out, minimizing upfront costs and maximizing return on investment. This is an ideal location for entrepreneurs seeking a high-visibility space with significant potential for growth. The property's size and location make it suitable for a variety of restaurant concepts.

    Property Features for 829 Us-51

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,776 SF
    Total Rate
    3238.67

    Unit(s) available at that property

    Space
    Size
    2,776 SF
    Rate per SF
    $14

    HighLights

    • Former QSR on a 0.38‑acre lot.
    • High visibility on US Highway 51 with 20,218 VPD.
    • 2,776 SF building, vacant and ready for immediate occupancy, with 30 parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Covington
    County
    Tipton
    State
    Tennessee
    Longitude
    -89.6441578
    Latitude
    35.5763981

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    FAQs

    What type of property is this?
    Restaurant - Prime Covington Restaurant Space. High-traffic location.
    Where is this restaurant located?
    The property is located at 829 Us-51 Covington, TN.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Former QSR on a 0.38-acre lot.; High visibility on US Highway 51 with 20,218 VPD.; 2,776 SF building, vacant and ready for immediate occupancy, with 30 parking spaces.
    Request Owner's contact information
    829 Us-51 Covington, TN 38019
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    Covington, TN 38019
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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
    829 Us-51 Covington, TN 38019
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