Vann Drive Retail Strip
For Sale
$5,135,000
1000 Vann Dr, Jackson, TN 38305
Two-tenant retail center with available space and established occupants near Interstate 40.
Property Size20,000 SF
Price / SF$256.75
Days on Market131
Property Features for 1000 Vann Dr
General Information
Standard status
Active
Size
20,000 SF
Occupancy
74%
Site & Location
Anchor Co-Tenants
MyEyeDr., Armed Services Career Center
Highway Access
Yes
Building Details
Year Built
2005
Tenancy
Multi
Listing Agency:
Hickman Realty Group Inc
(731) 664-1006
Listed By:
James Chris Carothers
Source:
Fiddletreerealty
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 31 at 7:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hickman Realty Group Inc
Investment Insights
Based on property information with market context.
This 20,000-square-foot retail strip center, built in 2005, is configured with 14,800 square feet leased and 5,200 square feet available. Current occupancy is 74%, providing an operating tenant base alongside additional space for lease-up. MyEyeDr. and the Armed Services Career Center are identified as occupants within the center.
The property is located at 1000 Vann Dr in Jackson, Tennessee, within the Vann Drive commercial corridor and just off Interstate 40. The site offers visibility and ample parking, with national retailers, restaurants, and service providers nearby. Its position near established commercial uses supports convenient access for customers and employees.
The property is located at 1000 Vann Dr in Jackson, Tennessee, within the Vann Drive commercial corridor and just off Interstate 40. The site offers visibility and ample parking, with national retailers, restaurants, and service providers nearby. Its position near established commercial uses supports convenient access for customers and employees.
Key Highlights
- 20,000 SF retail strip center built in 2005
- 74% occupied, with 14,800 SF leased and 5,200 SF available
- Occupants include MyEyeDr. and the Armed Services Career Center
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 - Two-tenant retail center with available space and established occupants near Interstate 40.
Where is this strip mall located?
The property is located at 1000 Vann Dr 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: 20,000 SF retail strip center built in 2005; 74% occupied, with 14,800 SF leased and 5,200 SF available; Occupants include MyEyeDr. and the Armed Services Career Center
