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Property profile & analytics
FOR LEASE
Retail space

881 Highway 51 S Covington, TN 38019

17,466 SF 0.65 ac lot Built 1969
Entity Owned 2-yr Hold ~ Est. High Equity
Property ID
US80-1281702
Property summary
AI-generated overview

This exceptional retail opportunity presents a 17,466 square foot building situated on a one-acre lot at 881 Highway 51 S in Covington, Tennessee. The property, built in 1969, features ample parking and is conveniently located directly on Highway 51, ensuring high visibility and accessibility for customers. Currently configured as a single, multi-tenant building, this outparcel offers 700 square feet of immediately available retail space with a drive-thru component. The property's location in Tipton County, Tennessee, provides access to a thriving local market. The one-acre lot offers significant potential for expansion or redevelopment, making it an ideal investment for both established businesses and new ventures seeking a high-traffic location. The property's existing infrastructure and prime highway frontage make it a compelling option for a variety of retail uses. This is a rare opportunity to acquire a well-positioned retail property in a growing market. The ample parking ensures convenient access for customers, further enhancing the property's appeal. The drive-thru capability adds significant value, catering to the demands of today's fast-paced consumer market. Don't miss this chance to secure a prominent retail presence in Covington, Tennessee.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1969
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 17,466 SF
Lot 0.65 ac (28,408 SF)
APN 084041J A 03902
UPID US80-1281702
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$700k
Blend (final) Blend
$665k
Owner & transaction history
Pongskul Properties LLC · 2 yrs held
Pongskul Properties LLC
since 2023
7 recorded transactions
2023
Price N/A
2018
Price N/A
2005
$100,000
2005
Price N/A
2003
$250,000
2002
$450,000
1988
$12,500
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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More about this property
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