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    1378 Union University Drive Jackson, TN 38305

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    Claim this Listing
    For Lease
    $9,548/Mo $19 SF/Yr (calc)

    COMMERCIAL - Jackson, TN

    Type:Retail
    Property size:
    6,000 SF
    Lot size:
    0.25 Acres
    Added:
    Jan 17, 2026
    Days on Market:
    108
    Last Refresh:
    May 5 at 2:06 pm

    Property Features for 1378 Union University Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Parking
    30
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    044 050.20
    Size
    6,000 SF
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas, Central
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    2016
    Floors in Building
    1
    Flooring type
    Vinyl, Carpet
    Building materials
    Block, Brick
    Roof type
    Flat

    We can help!

    Listing Contact
    Chris Carothers
    Chris Carothers

    Listing agent Chris Carothers License #250361

    Listing office Hickman Realty Group Inc.-Jack 49 Murray Guard Dr., Jackson, TN

    Listing date Jan 17, 2026

    MLS# 2600328 Listing URL

    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.

    Overview

    Retail Opportunity in Thompson Farms

    Located in Thompson Farms, this commercial space was custom-built for rehabilitation and physical therapy by West TN Healthcare. The open floor plan offers retail opportunities for a national retailer in a stand-alone building, suitable for businesses such as gifts, boutiques, or a gym. The flexible open floor plan is located in Union Station, anchored by TJ Mulligans, Mamselle's, BH Social, Paragon Bank, Pure Barre, Carrico's Pizza, and various medical and financial services like Morgan Stanley and Delta Associates. The property encompasses 6,000 square feet on a 0.25-acre lot. The rate is monthly NNN rent or $19.10 per square foot annually NNN, with the estimated NNN for additional rent at $4.12 per square foot annually. The property is currently occupied by West TN Health Care and requires an appointment for viewing between 8 AM and 5 PM, Monday through Friday, when no clients are present.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sports Plus Rehabs ... Medical Clinic

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Madison
    State
    Tennessee
    Longitude
    -88.864318
    Latitude
    35.685646

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    FAQs

    What type of property is this?
    Retail property - Retail space in Jackson's premier retail corridor, Thompson Farms.
    Where is this retail property located?
    The property is located at 1378 Union University Drive Jackson, TN.
    What is the lease rate?
    The lease rate is $9,548 /Mo.
    What are key features of this property?
    This property features: Prime location in Thompson Farms, Jackson's premiere retail corridor.; Custom‑built, open floor plan offering flexible retail opportunities.; Located in Union Station, anchored by established businesses like TJ Mulligans and Paragon Bank.
    (731) 616-9464
    We can help!
    Listing Contact
    Chris Carothers
    Chris Carothers
    Real Estate License ID: 250361
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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