Single-Tenant Medical
For Sale
Contact for pricing
1270 UNION UNIVERSITY DR, Jackson, TN 38305
Outpatient healthcare facility with a passive NNN lease and tenant responsibility for operating expenses.
Property Size11,970 SF
Lot Size1.30 Acres
Price / SF$311.28
Days on Market129
Property Features for 1270 UNION UNIVERSITY DR
General Information
Standard status
Active
Size
11,970 SF
Class
A
Lot size
1.30 Acres
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$264,390
Additional Details
Cap Rate
7.1%
Highway Access
Yes
Building Details
Year Built
2018
Year Renovated
2020
Buildings
1
Stories
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
River West Real Estate Group
Listed By:
Jason Caplan · License #AZ BR700751000
Source:
Crexi
Added: Jun 9
Changed: Oct 15
Last Checked: Oct 14 at 8:26PM
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 River West Real Estate Group
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Investment Insights
Based on property information with market context.
This approximately 11,970-square-foot outpatient medical facility occupies ±1.30 acres and was constructed in 2018. The property is leased to West Tennessee Healthcare under a single-tenant NNN structure, with the tenant responsible for taxes, insurance, maintenance, utilities, HVAC, and parking lot expenses. Expansion work was completed in 2020, followed by $1 million in tenant improvements during 2022.
The facility is located at 1270 Union University Drive in Jackson, Tennessee, near Interstate 40, Union University, and West Tennessee Healthcare’s North Campus. The surrounding corridor includes Target, Kroger, Academy Sports, Petco, T.J. Maxx, Burlington, Starbucks, McDonald’s, Walgreens, and other medical users. The lease carries a 7.10% cap rate, while tenant support includes Jackson-Madison County General Hospital credit ratings of BBB+ from S&P and A3 from Moody’s.
The facility is located at 1270 Union University Drive in Jackson, Tennessee, near Interstate 40, Union University, and West Tennessee Healthcare’s North Campus. The surrounding corridor includes Target, Kroger, Academy Sports, Petco, T.J. Maxx, Burlington, Starbucks, McDonald’s, Walgreens, and other medical users. The lease carries a 7.10% cap rate, while tenant support includes Jackson-Madison County General Hospital credit ratings of BBB+ from S&P and A3 from Moody’s.
Key Highlights
- Approximately 11,970 square feet on ±1.30 acres
- Constructed in 2018 with expansion completed in 2020
- Additional $1 million in tenant improvements completed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$135,430
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,708,600
$2.7M
Cap Rate 7%
$1,934,714
$1.9M
Cap Rate 9%
$1,504,778
$1.5M
Market Conditions
NOI Build-Up for 11,970 SF
Gross rent
$258.6K $21.60/SF
− Vacancy
−$32.8K −$2.74/SF
EGI
$225.7K $18.86/SF
− OpEx
−$90.3K −$7.54/SF
NOI
$135.4K $11.31/SF
Area
Madison County, TN
Vacancy
12.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,708,600
Cap Rate 7%
$1,934,714
Cap Rate 9%
$1,504,778
Alternative Uses
Best Use
Healthcare Medical
$1.93M
$1.69M – $2.26M
NOI $135,430 @ 7.0% cap · market cap 3.63%
Second Best
Office B
$1.82M
$1.60M – $2.13M
NOI $127,735 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$2.46M
$2.16M – $2.88M
NOI $172,540 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,067
Businesses Nearby
Well-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Outpatient healthcare facility with a passive NNN lease and tenant responsibility for operating expenses.
Where is this medical office space located?
The property is located at 1270 UNION UNIVERSITY DR Jackson, TN.
What is the asking price?
The asking price for this property is $3,726,000.
What are key features of this property?
This property features: Approximately 11,970 square feet on ±1.30 acres; Constructed in 2018 with expansion completed in 2020; Additional $1 million in tenant improvements completed in 2022
