416 Highway 51 N - Storefront Retail/Office FOR SALE


Covington, TN 38019
$1,220,000 USD
404-934-5558
416 Highway 51 N, Covington, TN for Sale
$1,220,000 USD
Storefront Retail/Office - FOR SALE
1/6
null | 8.5% Cap Rate

416 Highway 51 N
Covington, TN 38019


HIGHLIGHTS

  • Regional Tenant with 100+ Locations
  • 8 Years Remaining with Annual Rent Increases
  • 30 Mins to Ford's $5.6B Blue Oval City (6,000+ Employees)
  • Three Miles to 100-Bed Baptist Memorial Hospital
  • 24 Miles North of NSA Mid-South in Millington (7,500+ Personnel)
  • Close Proximity to Walmart Supercenter - 85th Percentile per Placer.ai

OVERVIEW

TSCG is pleased to offer for sale the Advance Financial in Covington (Memphis MSA), TN. The Property is positioned along US-51 (18,000+ VPD), which connects Covington to Millington, Dyersburg and Memphis. Covington benefits from its short drive times to major economic drivers in Memphis including NSA Mid-South in Millington and Ford’s $5.6B Blue Oval City in Stanton. Minutes to the Property is a top performing Walmart and 100-bed Baptist Memorial Hospital that caters to the surrounding area. Advance Financial was founded in 1996 and today has more than 100 locations throughout TN. Advance Financial has been in occupancy at this location since 2018 and recently signed an early lease extension through 2033.

FOR SALE DETAILS

PRICE

$1,220,000 USD

PRICE/SF

$530 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Advance Financial

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Bank, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

2.04 AC

LAND SF

88,862 SF

ZONING

-

APN/PARCEL ID

025N-B-025.00

ASK ABOUT THIS PROPERTY

404-934-5558

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404-934-5558

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