Absolute NNN Furniture
1096 Vann Drive, Jackson, TN 38305
For Sale
Contact for pricing
The single-tenant lease extends through 2030 and provides three five-year renewal options.
Property Size46,329 SF
Lot Size4.71 Acres
Price / SF$174.82
Days on Market28
Property Features for 1096 Vann Drive
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Highway Access
Building Details
Year Built
Tenancy
Listing Agency:
Cushman & Wakefield - Phoenix, Arizona
Listed By:
Chris Hollenbeck · License TN SA584876000
(602) 538-7155
Source:
Crexi
Added: Oct 14
Changed: Nov 8
Last Checked: Nov 8 at 5:42PM
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 Cushman & Wakefield - Phoenix, Arizona
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Ashley HomeStore occupies a 46,329-square-foot showroom on approximately 4.71 acres. Built in 2005, the property has been operated by Ashley since rent commenced in 2013. Ashley Global Retail, LLC is the tenant under an absolute NNN lease that continues through November 30, 2030, with three five-year renewal options. Annual rent adjustments are set at the lesser of 1.375% or 1.25x CPI, with the next adjustment scheduled for December 1, 2026.
The property at 1096 Vann Drive is near Interstate 40 and the US 45 Bypass. Reported daily traffic is approximately 60,000 vehicles on I-40 and 50,837 on the bypass. Vann Drive includes national retailers such as Costco Wholesale, Target, The Home Depot, Academy Sports + Outdoors, and Best Buy. More than 67,000 residents live within five miles; average household income within one mile is approximately $87,523, with a projection of $99,818 by 2031.
The property at 1096 Vann Drive is near Interstate 40 and the US 45 Bypass. Reported daily traffic is approximately 60,000 vehicles on I-40 and 50,837 on the bypass. Vann Drive includes national retailers such as Costco Wholesale, Target, The Home Depot, Academy Sports + Outdoors, and Best Buy. More than 67,000 residents live within five miles; average household income within one mile is approximately $87,523, with a projection of $99,818 by 2031.
Key Highlights
- 46,329‑square‑foot showroom on approximately 4.71 acres
- Built in 2005; Ashley has operated at the property since rent commenced in 2013
- Absolute NNN lease to Ashley Global Retail, LLC through November 30, 2030
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$473,320
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,466,400
$9.5M
Cap Rate 7%
$6,761,714
$6.8M
Cap Rate 9%
$5,259,111
$5.3M
Market Conditions
NOI Build-Up for 46,329 SF
Gross rent
$694.9K $15.00/SF
− Vacancy
−$18.8K −$0.41/SF
EGI
$676.2K $14.59/SF
− OpEx
−$202.9K −$4.38/SF
NOI
$473.3K $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 Rate 5%
$9,466,400
Cap Rate 7%
$6,761,714
Cap Rate 9%
$5,259,111
Alternative Uses
Best Use
Retail
$6.76M
$5.92M – $7.89M
NOI $473,320 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.54M
$8.35M – $11.13M
NOI $667,805 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
779
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
NNN property - The single-tenant lease extends through 2030 and provides three five-year renewal options.
Where is this nnn property located?
The property is located at 1096 Vann Drive Jackson, TN.
What is the asking price?
The asking price for this property is $8,099,175.
What are key features of this property?
This property features: 46,329‑square‑foot showroom on approximately 4.71 acres; Built in 2005; Ashley has operated at the property since rent commenced in 2013; Absolute NNN lease to Ashley Global Retail, LLC through November 30, 2030
