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    Property profile & analytics

    3045 Covington Pike Memphis, TN 38128-5015

    • Drive through restaurants
    • 2,902 SF
    • 0.91 lot acres
    OFF-MARKET
    Value Estimation
    $2,635,000
    Last Sale
    Jun 20, 2024
    $2,648,348
    Location Intelligence
    Property ID
    US80-3558807
    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

    • Taco Bell / Fast Food Restaurant / Burrito Restaurant

    Property Details for 3045 Covington Pike

    Year built
    2006
    Lot size
    0.91 lot acres
    Property size
    2,902 SF
    Zone code
    CMU-2
    Property type
    Drive through restaurants
    APN
    087-053- - -00039
    APU
    8705300039

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,650,000

    • CAP approach

      CAP return
      Estimation
      6%
      $2,620,000
      6.5%
      $2,970,000
      7%
      $2,700,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $2,565,000
      Geo Method
      $2,590,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,745,000
      Retail
      $2,785,000
      Mixed-Use
      $2,480,000
      Hospitality
      $2,475,000
      Educational
      $2,450,000
      Residential Income
      $2,465,000
      Energy
      $2,680,000
      Income-Based Land
      $2,450,000
      Food Service
      $2,995,000

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8952
    Latitude
    35.2088
    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
    $16,238
    $60,400
    $206,160
    $266,560
    -
    $151,000
    $515,400
    $666,400

    Comparable in this City

    • Value Estimation
      $1,865,000
      2,131 SF

      3545 Austin Peay Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,131 SF
      3545 Austin Peay Hwy, Memphis, TN 38128-3717
      View Details
    • Value Estimation
      $385,000
      552 SF

      3288 Austin Peay Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 552 SF
      3288 Austin Peay Hwy, Memphis, TN 38128-6502
      View Details
    • Value Estimation
      $350,000
      4,038 SF

      2200 Covington Pike

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,038 SF
      2200 Covington Pike, Memphis, TN 38128-6907
      View Details
    • Value Estimation
      $350,000
      2,312 SF

      3255 Austin Peay Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,312 SF
      3255 Austin Peay Hwy, Memphis, TN 38128-6501
      View Details
    • Value Estimation
      $360,000
      1,834 SF

      3141 Austin Peay Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,834 SF
      3141 Austin Peay Hwy, Memphis, TN 38128-4634
      View Details
    • Value Estimation by Request
      2,814 SF

      2180 Covington Pike

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,814 SF
      2180 Covington Pike, Memphis, TN 38128-6907
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Restaurant Building in Raleigh Trade

      Freestanding 5,762 SF restaurant on 1.2 acres for sale.
      3081 Covington Pike, Memphis, TN 38128
      View Details
    • Contact for pricing
      5,762 SF

      Memphis Restaurant - Covington Pike

      Freestanding Restaurant, 5,762 SF, High Traffic
      3081 Covington Pike, Memphis, TN 38128
      View Details
    • $799,000
      8,000 SF

      Memphis Retail Building - 8,000 SF

      Prime North Memphis location, ideal for owner-user.
      3544 Covington Pike, Memphis, TN 38128
      View Details
    • $1,100,000
      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
    • $225,000

      Memphis Commercial Property on Raleigh-Millington

      3,000 SF commercial building suitable for various business types.
      4015 Raleigh-Millington, Memphis, TN 38128
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      Versatile Commercial Property in Memphis

      20,700 SF commercial property suitable for various business ventures.
      3320 Austin Peay Hwy, Memphis, TN 38128
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    Similar Nearby for Lease

    • Contact for pricing
      570 SF

      Memphis Retail Space - Covington Pike

      Prime 570 SF Retail/Restaurant Space
      2974 Covington Pike, Memphis, TN 38128
      View Details
    • Contact for pricing
      17,755 SF

      Timber Creek Retail Center Spaces

      Multiple Suites, 1355-12700 SF Available
      2794 Coleman Rd, Memphis, TN 38128
      View Details
    • $11 SF/Yr
      20,000 SF

      Covington Pike Restaurant Space

      Memphis Retail/Office Opportunity
      3024 Covington Pike, Memphis, TN 38128
      View Details
    • Contact for pricing
      14,885 SF

      Covington Springs Retail Center

      Memphis Shopping Center: Suites Available
      3830-3854 Austin Peay Hwy, Memphis, TN 38128
      View Details
    • Contact for pricing
      2,400 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
      2,072 SF

      Retail Space in Covington Springs

      Neighborhood shopping center near Walmart, Kroger, and Methodist North Hospital.
      3842-3850 Austin Peay Hwy, Memphis, TN 38128
      View Details

    Property Visit Statistics

    • Visits by month
      15.6k
    • Visitors by month
      15.5k
    • Avg Time on site
      11 min
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    Memphis, TN 38128-5015
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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
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