Property summary
This exceptional investment opportunity presents a prime mixed-use property ideally suited for an auto dealership or similar business. Located at 2444-2466 Covington Pike in Memphis, Tennessee, this property boasts a highly visible location near a major intersection, ensuring significant traffic exposure. The offering includes two freestanding buildings, totaling approximately 3,159 net rentable square feet, constructed in 1979 and 1987, with significant renovations completed in 2017. Each building features offices, restrooms, and drive-in bays, perfectly designed for automotive services. The property sits on a nearly two-acre lot (1.82 acres), providing ample space for vehicle display – approximately 60 spaces are available. Two dedicated detailing bays are also included. The property benefits from a fully fenced perimeter, two convenient curb cuts for easy access, and a newer roof and HVAC system. Currently operating as a successful, owner-operated, high-end pre-owned auto dealership, this property is being offered for sale as the owner is downsizing their operations. The asking price is $1,350,000, and owner financing may be considered. Lease options are also available. The sale includes only the land and buildings
Property profile
VerifiedCap rate & NOI
Current use
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Car Dealership
Location
Value estimations
Owner & transaction history
Zoning & alternative use
3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations w…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Price sensitivity
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Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
CMU-3 · Memphis, TN3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations w…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations w…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CMU-3 in Memphis, TN.
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