Three-Unit Corner Office
101 North Highland Avenue, Jackson, TN 38301
For Sale
Contact for pricing
Historic 1920 office building with two leased units through December 2028 and a vacant first floor with parking lot access.
Property Size9,396 SF
Price / SF$127.71
Days on Market156
Property Features for 101 North Highland Avenue
General Information
Standard status
Size
Class
Property subtype
Occupancy
Investment Type
Additional Details
Office Units
Building Details
Year Built
Units
Tenancy
Listing Agency:
Prosper Realty Group
Listed By:
Clay Fowler · License TN #330963
(731) 467-0036
Source:
Crexi
Added: Jun 11
Changed: Nov 11
Last Checked: Nov 12 at 4:19AM
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 Prosper Realty Group
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Investment Insights
Based on property information with market context.
This historic office building, built in 1920, contains three office units within a 9,396 SF structure. The property is currently 66% occupied, with the first floor vacant and available for immediate move-in. The building also includes an unfinished basement totaling 2,349 SF, offering additional flexible interior space. Existing lease agreements for the second and third floors extend through December 2028.
Located at 101 North Highland Avenue in Jackson, TN, the property sits on a corner with street frontage at Main and Highland. The site includes a spacious parking lot designed to support tenant and visitor access.
For buyers seeking an income-producing office property, the currently leased second and third floors provide in-place agreements through December 2028 while the vacant first floor gives an operator the option to customize or re-tenant space. The combination of a multi-unit configuration, on-site parking, and available basement space can support a range of office tenants or office-building ownership strategies, subject to applicable leasing plans and building use requirements.
Located at 101 North Highland Avenue in Jackson, TN, the property sits on a corner with street frontage at Main and Highland. The site includes a spacious parking lot designed to support tenant and visitor access.
For buyers seeking an income-producing office property, the currently leased second and third floors provide in-place agreements through December 2028 while the vacant first floor gives an operator the option to customize or re-tenant space. The combination of a multi-unit configuration, on-site parking, and available basement space can support a range of office tenants or office-building ownership strategies, subject to applicable leasing plans and building use requirements.
Key Highlights
- 9,396 SF historic office building built in 1920 at 101 N Highland Ave in Jackson, TN
- 3‑unit property with a 66% occupancy rate; first floor is vacant and ready for immediate move‑in
- Second and third floors have existing leases through December 2028
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,268
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,005,360
$2.0M
Cap Rate 7%
$1,432,400
$1.4M
Cap Rate 9%
$1,114,089
$1.1M
Market Conditions
NOI Build-Up for 9,396 SF
Gross rent
$160.1K $17.04/SF
− Vacancy
−$26.4K −$2.81/SF
EGI
$133.7K $14.23/SF
− OpEx
−$33.4K −$3.56/SF
NOI
$100.3K $10.67/SF
Area
Madison County, TN
Vacancy
16.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,005,360
Cap Rate 7%
$1,432,400
Cap Rate 9%
$1,114,089
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.67M
NOI $100,268 @ 7.0% cap · market cap 8.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.26M
NOI $135,438 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
1,118
Businesses Nearby
Explore this area
Business Placement
Demographics for 38301, TN
34,170
Population
15,769
Households
2.2
Avg Household Size
37
Median Age
16%
College-Educated
85%
High-School Grad
150.9 sq mi
ZIP Area
226
Density / Sq Mi
$40,062
Median Household Income
$28,542
Median Earnings
$958
Median Rent
$119,400
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Jackson, TN
Properties on Market for Office buildings in Jackson
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Historic 1920 office building with two leased units through December 2028 and a vacant first floor with parking lot access.
Where is this office building located?
The property is located at 101 North Highland Avenue Jackson, TN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 9,396 SF historic office building built in 1920 at 101 N Highland Ave in Jackson, TN; 3‑unit property with a 66% occupancy rate; first floor is vacant and ready for immediate move‑in; Second and third floors have existing leases through December 2028
