Strip Mall with Flat
For Sale
$5,135,000
1000 Vann Drive, Jackson, TN 38305
Commercial Sale, Jackson, TN
Property Size20,000 SF
Lot Size2.33 Acres
Price / SF$256.75
Days on Market182
Property Features for 1000 Vann Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking
70
Elementary school district
Jackson Madison Consolidated District
Standard status
Active
APN
055 008.40
Size
20,000 SF
Lot size
2.33 Acres
Taxes and HOA fees
Tax Annual Amount
33361
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2005
Floors in Building
1
Roof type
Flat
Listing Agency:
Hickman Realty Group, Inc.-Mil
(731) 686-3341
Listed By:
Scott Beasley · License #343923
(731) 571-4300
Added: Mar 1
Changed: Aug 19
Last Checked: Aug 30 at 4:06PM
MLS# 2600836
Copyright © 2026 Central West Tennessee Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This strip mall features a flat roof and was built in 2005. The property sits on a 2.33-acre site with a total size of 20,000 SF. Current leasing is reported at 74% occupied, with 14,800 SF leased and 5,200 SF available, creating an opportunity to lease up the remaining vacancy.
Located at 1000 Vann Drive in Jackson, TN, the center is described as being on Jackson’s dominant Vann Drive commercial corridor, just off Interstate 40. The property is anchored by MyEyeDr. and the Armed Services Career Center. The center is marketed as having strong visibility and ample parking, supported by nearby national retailers, restaurants, and service providers.
Utilities are provided via public water and public sewer, supporting a variety of retail tenancy needs for prospective occupants.
Located at 1000 Vann Drive in Jackson, TN, the center is described as being on Jackson’s dominant Vann Drive commercial corridor, just off Interstate 40. The property is anchored by MyEyeDr. and the Armed Services Career Center. The center is marketed as having strong visibility and ample parking, supported by nearby national retailers, restaurants, and service providers.
Utilities are provided via public water and public sewer, supporting a variety of retail tenancy needs for prospective occupants.
Key Highlights
- 2.33‑acre strip mall site
- 20,000 SF strip center with flat roof (built 2005)
- 74% occupied: 14,800 SF leased and 5,200 SF available
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$204,330
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,086,600
$4.1M
Cap Rate 7%
$2,919,000
$2.9M
Cap Rate 9%
$2,270,333
$2.3M
Market Conditions
NOI Build-Up for 20,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$300.0K $15.00/SF
− Vacancy
−$8.1K −$0.41/SF
EGI
$291.9K $14.59/SF
− OpEx
−$87.6K −$4.38/SF
NOI
$204.3K $10.22/SF
Area
Madison County, TN
Vacancy
2.70%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,086,600
Cap Rate 7%
$2,919,000
Cap Rate 9%
$2,270,333
Alternative Uses
Best Use
Retail
$2.92M
$2.55M – $3.41M
NOI $204,330 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.12M
$3.60M – $4.80M
NOI $288,288 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
74%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Explore this area
Business Placement
Demographics for 38305, TN
52,686
Population
22,950
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
94%
High-School Grad
128.0 sq mi
ZIP Area
412
Density / Sq Mi
$66,292
Median Household Income
$37,416
Median Earnings
$1,201
Median Rent
$221,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Strip mall on a major Vann Drive corridor, 74% occupied with leased space and public utilities on site.
Where is this strip mall located?
The property is located at 1000 Vann Drive Jackson, TN.
What is the asking price?
The asking price for this property is $5,135,000.
What are key features of this property?
This property features: 2.33‑acre strip mall site; 20,000 SF strip center with flat roof (built 2005); 74% occupied: 14,800 SF leased and 5,200 SF available
