Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2130 Covington Pike Memphis, TN 38128-6907
    Property profile & analytics

    2130 Covington Pike, Memphis, TN 38128-6907

    View on Map
    • Auto shops
    • 5,590 SF
    • 0.46 lot acres
    Off-Market
    Last Sale Feb 21, 2025
    $647,000
    Property ID
    US80-3561674
    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.
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • RAW Wheels & Tires / (Bike/Boat/Book/etc) Store / Auto Parts Store

    Property Details for 2130 Covington Pike

    Year built
    1987
    Lot size
    0.46 lot acres
    Zone code
    EMP
    Property type
    Auto shops
    APN
    088-040- - -00106
    APU
    8804000106

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $510,000
      ML approach
      $530,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $803,000
      Market price range: $210k - $1.03M
      AI Estimate
      $485,000
      Market price range: $150k - $521k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $540,000
      Current use
      MEDICAL BUILDING
      $800,000
      Change: +48% Conversion: Difficult
      OFFICE BUILDING
      $665,000
      Change: +23% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $495,000
      Change: -8% Conversion: Difficult
      RETAIL STORES
      $465,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8959
    Latitude
    35.1834
    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
    $12,403
    $54,000
    $149,600
    $203,600
    -
    $135,000
    $374,000
    $509,000

    Comparable in this City

    • Value Estimation by Request
      26,679 SF

      2369 Covington Pike

      AUTO REPAIR, GARAGE
      2369 Covington Pike, Memphis, TN 38128-6923
      View Details
    • Value Estimation
      $590,000
      9,410 SF

      2029 Covington Pike

      AUTO REPAIR, GARAGE
      2029 Covington Pike, Memphis, TN 38128-6903
      View Details
    • Value Estimation
      $4,700,000
      3,744 SF

      4932 Elmore Rd

      AUTO REPAIR, GARAGE
      4932 Elmore Rd, Memphis, TN 38128-6933
      View Details
    • Value Estimation
      $560,000
      16,046 SF

      2827 Old Austin Peay Hwy

      AUTO REPAIR, GARAGE
      2827 Old Austin Peay Hwy, Memphis, TN 38128-5603
      View Details
    • Value Estimation by Request
      4,840 SF

      2019 Covington Pike

      AUTO REPAIR, GARAGE
      2019 Covington Pike, Memphis, TN 38128-6903
      View Details
    • Value Estimation
      $1,350,000
      25,350 SF

      2240 Covington Pike

      AUTO REPAIR, GARAGE
      2240 Covington Pike, Memphis, TN 38128-6908
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,089 SF

      Valvoline NNN Ground Lease Opportunity

      New construction Valvoline NNN ground lease in Memphis, Tennessee.
      4704 Yale Rd, Memphis, TN 38128
      View Details
    • Contact for pricing
      11,122 SF

      Memphis Retail Building with Drive-Thru

      11,122 SF retail building on 1.84 acres with drive-thru.
      3500 Ramill Rd, Memphis, TN 38128
      View Details
    • Contact for pricing

      Neighborhood Shopping Center For Sale

      Neighborhood shopping center with strong co-tenancy and drive-thru opportunity.
      2940 Covington Pike, Memphis, TN 38128
      View Details
    • Contact for pricing
      941 SF

      High-Traffic Retail Space Available

      Prime retail space on Jackson Avenue, ideal for owner-user.
      4119 Jackson Ave, Memphis, TN 38128
      View Details
    • Contact for pricing
      98,926 SF

      98,926 SF Retail Building

      98,926 SF retail building on 8.80 AC lot.
      4991 Stage Rd, Memphis, TN 38128
      View Details
    • Contact for pricing

      Freestanding Chase Bank Net Lease

      Net leased Chase Bank in revitalized Raleigh commercial corridor.
      4910 Raleigh Common Dr, Memphis, TN 38128
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Covington Springs Retail Suites Available

      Neighborhood shopping center with multiple suites for rent.
      3830-3854 Austin Peay Hwy, Memphis, TN 38128
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Austin Peay

      Retail space in busy shopping center with high traffic.
      3421-4565 Austin Peay Hwy, Memphis, TN 38128
      View Details
    • Contact for pricing

      Retail Space on Busy Thoroughfare

      Retail space with high-traffic location and strong tenant mix.
      3265 Austin Peay Hwy, Memphis, TN 38128
      View Details
    • Contact for pricing

      High Traffic Retail Center Space

      Retail space in high-traffic area near major retailers.
      3024 Covington Pike, Memphis, TN 38128
      View Details
    • Contact for pricing

      Retail Space in Shopping Center

      Neighborhood shopping center at Covington Pike and Stage Road intersection.
      2940 Covington Pike, Memphis, TN 38128
      View Details
    • Contact for pricing

      Commercial Land Near Civic Center

      Land available for rent near Raleigh Civic Center.
      3545 Austin Peay Hwy, Memphis, TN 38128
      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.
    2130 Covington Pike
    Memphis, TN 38128-6907
    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

    Thank You for Inquiry
    2130 Covington Pike, Memphis, TN, 38128
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!