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    3544 Covington Pike Memphis, TN 38128

    For Sale
    $799,000

    Prime North Memphis location, ideal for owner-user.

    Property size:
    8,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This 8,000-square-foot freestanding building, formerly a Family Dollar, presents a compelling investment opportunity in Memphis, Tennessee. Constructed in 2012, the property sits on a sizable 0.88-acre lot and offers significant potential for expansion, up to 9,000 square feet, with ample existing parking. The building features a pylon sign, three-phase electrical service, and energy-efficient LED lighting. With 30 parking spaces readily available, this property is well-suited for a variety of retail or commercial uses. Its strategic location, just 0.8 miles from Methodist North Hospital, makes it particularly attractive for medical-related businesses seeking a convenient and accessible location. The asking price is $799,000, translating to $99.88 per square foot. This single-story building offers a unique chance to acquire a well-maintained commercial space in a thriving area of Memphis. The property's features and location combine to create a strong investment opportunity for owner-users or those seeking retail repurposing. All information is deemed reliable but not guaranteed.

    Property Features for 3544 Covington Pike

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,000 SF
    Lot Size
    38,333 SF

    Building Details

    Year Built
    2012
    Buildings
    1
    Stories
    1

    HighLights

    • 8,000 SF freestanding building, former Family Dollar, built in 2012 with pylon sign, 3‑phase power, and LED lighting.
    • 30 parking spaces.
    • Excellent potential for medical or retail reuse.
    • 0.8 miles from Methodist North Hospital.
    • Expansion potential to 9,000 SF with ample existing parking.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.893896687574
    Latitude
    35.223055808317

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    FAQs

    What type of property is this?
    Individual retail property - Prime North Memphis location, ideal for owner-user.
    Where is this individual retail property located?
    The property is located at 3544 Covington Pike Memphis, TN.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: 8,000 SF freestanding building, former Family Dollar, built in 2012 with pylon sign, 3-phase power, and LED lighting.; 30 parking spaces.; Excellent potential for medical or retail reuse.
    Request Owner's contact information
    3544 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
    3544 Covington Pike Memphis, TN 38128
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