3081 Covington Pike Memphis, TN 38128
Property profile & analytics
3081 Covington Pike Memphis, TN 38128
- Turn key restaurants
- 5,762 SF
- 1.00 lot acres
Property ID
US80-1067548
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.
Location Intelligence
Current Use by Public Records
- Turn key restaurants
Property Details for 3081 Covington Pike
- Year built
- 1979
- Lot size
- 1.00 lot acres
- Property size
- 5,762 SF
- Zone code
- CMU-2
- Property type
- Turn key restaurants
- APN
- 087-053- - -00036
- APU
- 8705300036
Description
This exceptional 5,762-square-foot freestanding restaurant building presents a compelling investment opportunity in Memphis, Tennessee. Situated on a sizable 1.2-acre lot at 3081 Covington Pike, this property boasts a prime location within a thriving retail corridor. The building's previous use as a Shoney's restaurant provides a solid foundation for a variety of food service concepts or potential redevelopment. Its strategic placement ensures high visibility and accessibility, benefiting from significant traffic counts on Covington Pike (36,474 AADT) and Stage Road (29,667 AADT). The property enjoys excellent proximity to established national and regional brands, including Captain D's, Taco Bell, Home Depot, Burlington, Marshalls, Aaron's, CVS, Walgreens, Starbucks, Piccadilly, AutoZone, Dollar General, and Subway, creating a synergistic retail environment. This location offers substantial potential for a new owner to capitalize on the existing infrastructure and strong surrounding commercial activity. The property is being offered for sale and presents a rare chance to acquire a well-positioned restaurant space in a high-traffic area of Memphis. The 1.2-acre lot allows for ample parking and potential for future expansion or outdoor seating. This is an ideal opportunity for an experienced restaurateur or investor seeking a high-visibility location with strong demographics.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.8951
- Latitude
- 35.2097
- 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
$12,273
$66,240
$135,240
$201,480
-
$165,600
$338,100
$503,700
