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Property profile & analytics
FOR LEASE
Medical Office Space

3030 Covington Pike Memphis, TN 38128

20,252 SF 1.64 ac lot Built 1974
Individually Owned 4-yr Hold Free & Clear
Property ID
US80-3428507
3030 Covington Pike, Memphis, TN 38128 For Lease
Contact for pricing
3030 Covington Pike, Memphis, TN 38128
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Property summary
AI-generated overview

Covington Commons - Medicos Center offers exceptional office space in a thriving Shelby County location. This Class C, two-story building totaling 20,000 square feet underwent renovations in 2018. Currently, 5,810 square feet of space is available, divisible into units as small as 310 square feet, with a maximum contiguous space of 3,880 square feet. The building features multiple tenancies and convenient elevator access. Its strategic location at a high-traffic intersection near Stage Cross Street places it amidst a vibrant mixed-use area. Benefit from the synergy of neighboring national tenants, including Home Depot, Burlington, and Walgreens, along with a variety of medical facilities, pharmacies, and restaurants. This property presents a unique opportunity for businesses seeking flexible, well-located office space in a bustling commercial environment. The building's modern amenities and prime location make it an ideal choice for medical practices, executive offices, or other professional businesses. The minimum leasable space is 310 square feet, offering flexibility for businesses of various sizes.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1974
Total area 20,252 SF
Lot 1.64 ac (71,395 SF)
Zoning code CMU-2
APN 087-051- - -00109
UPID US80-3428507
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Dove Family Dentistry - Covington Pike Dental Office
  • Dr. Joseph F. Dove, DDS Dental Office
  • Clinica Camellia Medical Clinic
  • Wojcik Richard P CPA Accounting Firm Tax Preparation
  • Drewry Jimmie D Law Firm Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.46M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.24M
Blend (final) Blend
$1.49M
Owner & transaction history
Medicos General PLLC · 4 yrs held
Medicos General PLLC
since 2022
Last sale
$1.9M
3 recorded transactions
2022
$1.9M
2007
Price N/A
2007
$2.8M
Zoning & alternative use
CMU-2 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

h. CMU-2 and CBD districts. Any convenience store with gas pumps or gas stations constructed in the CMU-2 and CBD districts after the effective date of this ordinance (ZTA 21 -2) or reactivated after one year of discontinuance or whose convenience store is reconstructed or relocated shall require the issuance of a Special Use Permit, except in situations whe…

Zone name Commercial Mixed Use 2
General category MIXED_USE
Zone area 2,993.47 ac
Source CHAPTER 1
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