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    Property profile & analytics

    951 Hwy 51st N Covington, TN 38019-1702

    • Retail properties
    • 48,292 SF
    • 6.09 lot acres
    OFF-MARKET
    Value Estimation
    $2,340,000
    Last Sale
    Sep 09, 2021
    $2,229,650
    Location Intelligence
    Property ID
    US80-2001091
    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

    • higi / Health Consultant
    • MoneyGram / Money Transfer Service
    • Whiskey Business / Liquor Store
    • TNT Fireworks / Fireworks Store / Store

    Property Details for 951 Hwy 51st N

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    6.09 lot acres
    Property size
    48,292 SF
    Property type
    Retail properties
    APN
    084025F A 00300
    APU
    084025FA00300

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,335,000

    • CAP approach

      CAP return
      Estimation
      6%
      $2,385,000
      6.5%
      $2,205,000
      7%
      $2,375,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $2,285,000
      Geo Method
      $2,410,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,465,000
      Retail
      $2,580,000
      Mixed-Use
      $2,555,000
      Hospitality
      $1,950,000
      Educational
      $2,080,000
      Residential Income
      $1,960,000
      Energy
      $2,575,000
      Income-Based Land
      $2,520,000
      Food Service
      $2,570,000

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Tipton
    State
    Tennessee
    Longitude
    -89.6439
    Latitude
    35.5793
    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
    $39,240
    $206,520
    $1,074,080
    $1,280,600
    -
    $516,300
    $2,685,200
    $3,201,500

    Comparable in this City

    • Value Estimation by Request
      7,154 SF

      217 Hwy 51 Hwy

      Individual retail properties • 7,154 SF
      217 Hwy 51 Hwy, Covington, TN 38019
      View Details
    • Value Estimation by Request
      2,880 SF

      1031 Us-51

      Individual retail properties • 2,880 SF
      1031 Us-51, Covington, TN 38019
      View Details
    • Value Estimation by Request
      32,082 SF

      1603 51

      Lifestyle centers • 32,082 SF
      1603 51, Covington, TN 38019
      View Details
    • Value Estimation by Request
      29,640 SF

      973 51

      Restaurants • 29,640 SF
      973 51, Covington, TN 38019
      View Details
    • Value Estimation
      $4,730,000
      71,078 SF

      975 Hwy 51st N

      DEPARTMENT STORE • 71,078 SF
      975 Hwy 51st N, Covington, TN 38019-1523
      View Details
    • Value Estimation by Request
      3,552 SF

      416 Us-51

      Individual retail properties • 3,552 SF
      416 Us-51, Covington, TN 38019
      View Details

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      Multitenant retail property with high visibility and ample parking.
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    • New
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      Highway 51 Commercial Opportunity

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    Similar Nearby for Lease

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      1,500 SF

      Covington Retail Space - Highway 51

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      Retail spaces and drive-thru opportunity near Ford BlueOval City.
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    • $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
      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.
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      View Details
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    951 Hwy 51st N
    Covington, TN 38019-1702
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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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