Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1995 Hwy 51st S Covington, TN 38019-3635

    • Medical offices
    • 12,944 SF
    • 28.80 lot acres
    OFF-MARKET
    Value Estimations
    $1,440,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-2024417
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Baptist Memorial - Concern Employee Assistance Program - Tipton / Medical Clinic
    • Gastrointestinal Specialists Foundation / Surgical Center / Gastrointestinal Surgeon
    • Baptist Rehabilitation Tipton / Physical Therapy Clinic

    Property Details for 1995 Hwy 51st S

    Year built
    1993
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    28.80 lot acres
    Property size
    12,944 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    084051E A 00300 003
    APU
    084051EA00300003

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,140,000
      RETAIL STORES
      $1,110,000
      AUTO REPAIR, GARAGE
      $975,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Tipton
    State
    Tennessee
    Longitude
    -89.6782
    Latitude
    35.5359
    CBSA code
    32820
    CBSA name
    MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $13,939
    $28,800
    $423,720
    $452,520
    -
    $72,000
    $1,059,300
    $1,131,300

    Comparable in this City

    • Value Estimation by Request
      3,783 SF

      707 Main St

      MEDICAL BUILDING • 3,783 SF
      707 Main St, Covington, TN 38019-2825
      View Details
    • Value Estimation
      $530,000
      4,111 SF

      1111 Hwy 51st S

      MEDICAL BUILDING • 4,111 SF
      1111 Hwy 51st S, Covington, TN 38019-3236
      View Details
    • Value Estimation
      $2,035,000
      19,365 SF

      1995 Hwy 51st S

      MEDICAL BUILDING • 19,365 SF
      1995 Hwy 51st S, Covington, TN 38019-3635
      View Details
    • Value Estimation by Request
      1,890 SF

      720 Sherrod Ave

      MEDICAL BUILDING • 1,890 SF
      720 Sherrod Ave, Covington, TN 38019-3024
      View Details
    • Value Estimation by Request
      2,781 SF

      209 Pleasant Ave

      MEDICAL BUILDING • 2,781 SF
      209 Pleasant Ave, Covington, TN 38019-2537
      View Details
    • Value Estimation
      $1,170,000
      10,413 SF

      1995 Hwy 51st S

      MEDICAL BUILDING • 10,413 SF
      1995 Hwy 51st S, Covington, TN 38019-3635
      View Details

    Similar Nearby for Sale

    • $255,000

      Remodeled Office Space in Covington

      Completely remodeled office space suitable for various businesses.
      111 Washington Ave, Covington, TN 38019
      View Details
    • $1,325,000
      24,950 SF

      Retail Portfolio in Covington, TN

      Two-building retail portfolio with value-add potential in Covington, TN.
      919 Highway 51 S, Covington, TN 38019
      View Details
    • $275,000
      22.00 Acres

      Covington Land Available For Sale

      22 acres of agricultural land for sale in Covington, TN.
      Oil Mill Rd, Covington, TN 38019
      View Details
    • $185,000

      Land For Sale Covington, TN

      Commercial land available for purchase in Covington, Tennessee.
      1024 Highway 51, Covington, TN 38019
      View Details
    • Contact for pricing
      8.40 Acres

      Prime Covington Development Land

      8.4 Acres, Highway Commercial Zoning
      110 Holly Grove Rd, Covington, TN 38019
      View Details
    • $3,700,000
      149,512 SF

      Tennessee Hotel Portfolio: Value-Add Opportunity

      175 Rooms, Two Locations, High ROI Potential
      112 Us-51, Covington, TN 38019
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Covington Retail Space - Highway 51

      Prime Retail Space, 1500 sq ft, Covington, TN
      1618 Highway 51, Covington, TN 38019
      View Details
    • $1.00 SF/Yr

      Versatile Commercial Spaces Available

      Multiple spaces available for lease, suitable for various businesses.
      114 W Liberty Ave, Covington, TN 38019
      View Details
    • Contact for pricing
      17,466 SF

      Covington Retail Outparcel - Hwy 51

      Prime Hwy 51 Retail, Drive-Thru Available
      881 Highway 51, Covington, TN 38019
      View Details
    • Contact for pricing

      Retail Opportunity Near Ford Plant

      Retail spaces and drive-thru opportunity near Ford BlueOval City.
      887 Highway 51 S, Covington, TN 38019
      View Details
    • $14 SF/Yr
      2,776 SF

      Covington Restaurant - Hwy 51 N

      Prime Covington Restaurant Space. High-traffic location.
      829 Us-51, Covington, TN 38019
      View Details
    • Contact for pricing
      34,380 SF

      Renovated Retail Space Available

      Renovated retail space with strong co-tenancy and high visibility.
      975 Highway 51 N, Covington, TN 38019
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1995 Hwy 51st S
    Covington, TN 38019-3635
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.