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    Property profile & analytics

    875 Hwy 51st N Covington, TN 38019-1701

    • Drive through restaurants
    • 2,997 SF
    • 0.59 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Mar 21, 2024
    $6,751
    Location Intelligence
    Property ID
    US80-0527722
    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

    • Drive through restaurants

    Property Details for 875 Hwy 51st N

    Year built
    1987
    Lot size
    0.59 lot acres
    Property size
    2,997 SF
    Property type
    Drive through restaurants
    APN
    084025K A 02306
    APU
    084025KA02306

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Tipton
    State
    Tennessee
    Longitude
    -89.6442
    Latitude
    35.5767
    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
    $6,299
    $47,560
    $154,840
    $202,400
    -
    $118,900
    $387,100
    $506,000

    Comparable in this City

    • Value Estimation
      $400,000
      5,558 SF

      887 Hwy 51st N

      DRIVE-THRU RESTAURANT, FAST FOOD • 5,558 SF
      887 Hwy 51st N, Covington, TN 38019-1710
      View Details
    • Value Estimation
      $360,000
      1,837 SF

      430 Hwy 51st S

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,837 SF
      430 Hwy 51st S, Covington, TN 38019-2424
      View Details
    • Value Estimation
      $1,270,000
      4,112 SF

      416 Hwy 51st N

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,112 SF
      416 Hwy 51st N, Covington, TN 38019-2363
      View Details
    • Value Estimation
      $350,000
      3,724 SF

      1639 Hwy 51st S

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,724 SF
      1639 Hwy 51st S, Covington, TN 38019-3229
      View Details
    • Value Estimation
      $1,205,000
      2,024 SF

      712 Hwy 51st N

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,024 SF
      712 Hwy 51st N, Covington, TN 38019-2035
      View Details
    • Value Estimation
      $200,000
      612 SF

      967 Hwy 51st N

      DRIVE-THRU RESTAURANT, FAST FOOD • 612 SF
      967 Hwy 51st N, Covington, TN 38019-1523
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $14 SF/Yr
      2,776 SF

      Covington Restaurant - Hwy 51 N

      Prime Covington Restaurant Space. High-traffic location.
      829 Us-51, Covington, TN 38019
      View Details
    • Contact for pricing
      1,500 SF

      Covington Retail Space - Highway 51

      Prime Retail Space, 1500 sq ft, Covington, TN
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      View Details
    • Contact for pricing
      17,466 SF

      Covington Retail Outparcel - Hwy 51

      Prime Hwy 51 Retail, Drive-Thru Available
      881 Highway 51, Covington, TN 38019
      View Details
    • Contact for pricing

      Retail Opportunity Near Ford Plant

      Retail spaces and drive-thru opportunity near Ford BlueOval City.
      887 Highway 51 S, Covington, TN 38019
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    • Contact for pricing
      34,380 SF

      Renovated Retail Space Available

      Renovated retail space with strong co-tenancy and high visibility.
      975 Highway 51 N, Covington, TN 38019
      View Details
    • Contact for pricing
      186,240 SF

      Newly Rebuilt Industrial Property

      Recently rebuilt industrial property with new office space for lease.
      1 Delfield Dr, Covington, TN 38019
      View Details
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    Covington, TN 38019-1701
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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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