5055 Covington Way Memphis, TN 38134-5699
For Lease
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Property summary
This single-tenant industrial flex space at 5055 Covington Way offers a unique opportunity. The property boasts a flexible layout previously occupied by a pharmacy, featuring multiple offices and a small warehouse area. The total square footage ranges from 1,850 to 5,550 square feet, providing ample space for a variety of businesses. The building includes four restrooms for employee and customer convenience. The property's adaptability is a key advantage; the landlord is willing to convert the space back to a standard warehouse configuration if needed, making it suitable for a wide range of uses. This presents a rare chance to acquire a well-located industrial property with significant flexibility and potential for customization. The property's previous use as a pharmacy suggests existing infrastructure suitable for businesses requiring office and storage space. The size range allows for businesses of varying scales to find a suitable fit. The availability of four restrooms further enhances the property's functionality and appeal. The landlord's willingness to adapt the space to the tenant's needs underscores the commitment to providing a tailored solution. This makes 5055 Covington Way an exceptional opportunity for businesses seeking a versatile and adaptable industrial space.
Property profile
VerifiedCap rate & NOI
Current use
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Gym & Fitness Center
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Pharmacy
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Interior Design
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Physician
Value estimations
Owner & transaction history
Zoning & alternative use
1. In the CA, CMU, EMP, WD, IH districts, outdoor runs are permitted. 2. In all other districts, outdoor runs are not permitted. All overnight care of animals must occur indoors. All pens, kennels and runs must be locate…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the Memphis market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
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Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
EMP · Memphis, TN1. In the CA, CMU, EMP, WD, IH districts, outdoor runs are permitted. 2. In all other districts, outdoor runs are not permitted. All overnight care of animals must occur indoors. All pens, kennels and runs must be locate…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for EMP in Memphis, TN.
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