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    Property profile & analytics

    3068 Covington Pike Memphis, TN 38128-5001

    • Medical offices
    • 15,419 SF
    • 1.22 lot acres
    OFF-MARKET
    Value Estimation
    $390,000
    Location Intelligence
    Property ID
    US80-1793959
    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

    • Medicos Medical Center / Medical Center
    • Keith Morris Family Dentistry / Dentist
    • Dr. Brad S. Buckingham, DMD / Dentist
    • Dr. Mark Eakes / Family Practice Physician
    • Marie Hennelly / Family Practice Physician / Health Care Facility

    Property Details for 3068 Covington Pike

    Year built
    1982
    Lot size
    1.22 lot acres
    Property size
    15,419 SF
    Zone code
    OG
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    087-051- - -00114
    APU
    8705100114

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $365,000

    • CAP approach

      CAP return
      Estimation
      6%
      $530,000
      6.5%
      $510,000
      7%
      $525,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $460,000
      Geo Method
      $550,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $520,000
      Retail
      $425,000
      Mixed-Use
      $530,000
      Hospitality
      $410,000
      Educational
      $510,000
      Residential Income
      $455,000
      Energy
      $430,000
      Income-Based Land
      $480,000
      Food Service
      $460,000

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8939
    Latitude
    35.2091
    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
    $12,139
    $80,840
    $118,440
    $199,280
    -
    $202,100
    $296,100
    $498,200

    Comparable in this City

    • Value Estimation
      $175,000
      3,223 SF

      4387 Stage Rd

      MEDICAL BUILDING • 3,223 SF
      4387 Stage Rd, Memphis, TN 38128-5708
      View Details
    • Value Estimation by Request
      4,289 SF

      3876 New Covington Pike

      MEDICAL BUILDING • 4,289 SF
      3876 New Covington Pike, Memphis, TN 38128-2512
      View Details
    • Value Estimation by Request
      40,030 SF

      3980 New Covington Pike

      MEDICAL BUILDING • 40,030 SF
      3980 New Covington Pike, Memphis, TN 38128-2500
      View Details
    • Value Estimation
      $355,000
      2,438 SF

      4395 Stage Rd

      MEDICAL BUILDING • 2,438 SF
      4395 Stage Rd, Memphis, TN 38128-5708
      View Details
    • Value Estimation
      $180,000
      1,748 SF

      3594 Covington Pike

      MEDICAL BUILDING • 1,748 SF
      3594 Covington Pike, Memphis, TN 38128-3926
      View Details
    • Value Estimation
      $490,000
      81,440 SF

      3950 New Covington Pike

      MEDICAL BUILDING • 81,440 SF
      3950 New Covington Pike, Memphis, TN 38128-2591
      View Details

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    Similar Nearby for Lease

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    • Contact for pricing
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      View Details
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    Memphis, TN 38128-5001
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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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