Former Shoney's for Sale in Memphis, TN

3081 Covington Pike, Memphis Tennessee, 38128

Listing ID: CL-Tennessee-27609 Commercial Restaurant Retail
Published on: Tuesday, April 28, 2026 | Updated on: Tuesday, April 28, 2026

Listing Summary

Prime Commercial Opportunity: High-Visibility Freestanding Restaurant on 1.2 Acres 5,762 SF Former Shoney’s | Strategic Retail Corridor Investment

Full Description

Unlock the potential of this premier retail asset. Situated in the heart of a bustling commercial hub, this 5,762 SF freestanding restaurant building offers an unparalleled opportunity for owner-occupants or savvy investors. Boasting a generous 1.2-acre lot, this property provides the space, visibility, and infrastructure required for a high-volume flagship location.


Key Property Specifications

  • Property Type: Retail / Freestanding Restaurant

  • Total Building Square Footage: 5,762 SF

  • Total Land Area: 1.20 Acres

  • Current Status: Available For Sale / Investment


Investment Highlights & Location Intelligence

This site is strategically positioned within a high-density retail ecosystem, ensuring a constant stream of organic foot traffic and brand exposure.

  • Established Fast-Food Synergy: The property sits directly adjacent to national powerhouses Captain D’s and Taco Bell, benefiting from the "shadow effect" of their established customer bases.

  • Surrounding National Retailers: You are in good company. The immediate trade area features a "who’s who" of national brands, including:

    • Big Box & Apparel: Home Depot, Burlington, Marshalls, and Aaron’s.

    • Daily Needs & Pharmacy: CVS, Walgreens, and Dollar General.

    • Dining & Service: Starbucks, Piccadilly, AutoZone, Subway, and more.

  • Unrivaled Traffic Infrastructure: Capture the attention of tens of thousands of commuters daily. This location boasts exceptional Average Annual Daily Traffic (AADT) counts:

    • Covington Pike: 36,474 AADT

    • Stage Road: 29,667 AADT


Why This Property?

For those looking to enter or expand in the [Insert City/Region Name] market, this former Shoney’s represents more than just square footage—it is a turnkey-ready footprint in a saturated market where 1.2-acre parcels are increasingly rare.

Whether you are looking to renovate the existing structure to suit a new casual dining concept or seeking a ground-up redevelopment in a high-impact corridor, this site offers the flexibility and traffic metrics to support a high-ROI venture.


Schedule a Private Tour

Don't miss out on one of the most visible restaurant sites currently on the market. Contact our listing team today for a full offering memorandum, site plans, and to schedule a walk-through.

Quick Glance

  • Listing ID: CL-Tennessee-27609
  • Status: Active
  • Year Build: N/A
  • Building Size: 5,762 SqFt
  • Lot Size: 1.20 Acre

Complete Details

  • Building Size: 5,762 SqFt
  • Total Lot Area: 1.20 Acre
  • Heating and Cooling: Not Specified

Pricing Details

Additional Features

Highlights
  • 5,762 Sf Freestanding Restaurant on 1.2 Acres
  • Adjacent to Captain D's and Taco Bell
  • Area Retailers Include Home Depot, Burlington, Marshalls, Aaron's, Cvs, Walgreens, Starbucks, Piccadilly, Autozone, Dollar General, Subway and More
  • Traffic Counts: Covington Pike 36,474 Aadt and Stage Rd29,667 Aadt

Listing Location

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