975 Highway 51 N | Covington, TN 38019
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975 Highway 51 N
Covington, TN 38019
Covington Shopping Center · Retail Property For Sale
Investment Highlights
- NEW LEASES WITH NATIONAL TENANTS: The property is 100% occupied with a desirable mix of national tenants highlighted by Tractor Supply
- RECENT COMMITMENT: Tractor Supply is currently paying a below market rent of $3.85 PSF and recently extended its lease by an additional 10 years
- BELOW MARKET RENTS: The rent roll is highlighted by replaceable, below market rents
- Each of these leases has attractive rent escalations and significant term providing a collective WALT of more than 10 Years
- ATTRACTIVE ACQUISITION BASIS: With an asking price of approximately $72 PSF and in-place rents below market levels
- NEW POPULATION / ECONOMIC DRIVERS - BLUE OVAL: Ford Motor company recently announced its plan to develop a $5.6 billion dollar manufacturing plant
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
71,078 SF
Building Class
B
Year Built
1991
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.14
Lot Size
11.44 AC
Zoning
B-2
Parking
378 Spaces (5.21 Spaces per 1,000 SF Leased)
Frontage
349 ft on Highway 51 N
Amenities
- Air Conditioning
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,851,765 | |
| Land Assessment | $508,150 | Total Assessment | $2,359,914 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$508,150
Improvements Assessment
$1,851,765
Total Assessment
$2,359,914
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