Retail Space with Lease
For Sale
$3,300,000
1751 Vann Drive, Jackson, TN 38305
Commercial Sale, Jackson, TN
Property Size20,582 SF
Lot Size1.91 Acres
Price / SF$160.33
Days on Market261
Property Features for 1751 Vann Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking
75
Elementary school district
Jackson Madison Consolidated District
Standard status
Active
APN
055 056.01
Size
20,582 SF
Lot size
1.91 Acres
Taxes and HOA fees
Tax Annual Amount
1
Utilities
Heating system
Central, Natural Gas
Cooling system
Electric
Building Details
Year built
2008
Floors in Building
1
Listing Agency:
L A Realty,LLC
(731) 686-9899
Listed By:
Joshua Lynn Arnold · License #00301815
(731) 415-1142
Added: Jan 9
Changed: Sep 2
Last Checked: Sep 27 at 10:06AM
MLS# 2600130
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.
Investment Insights
Based on property information with market context.
This retail offering includes 20,582 square feet on a 1.91-acre site. Constructed in 2008, the property is equipped with central natural gas heating and electric cooling. Additional space is available for lease, supporting continued retail occupancy and flexibility within the existing property.
The site is located at 1751 Vann Drive in Jackson, Tennessee, near the intersection of I-40 and Highway 412. It is situated within The Columns retail development and near a concentration of national retailers. The property provides access to the established retail corridor serving Jackson and the surrounding West Tennessee market.
The site is located at 1751 Vann Drive in Jackson, Tennessee, near the intersection of I-40 and Highway 412. It is situated within The Columns retail development and near a concentration of national retailers. The property provides access to the established retail corridor serving Jackson and the surrounding West Tennessee market.
Key Highlights
- 20,582 square feet of retail space
- 1.91‑acre site
- Additional space available for lease
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
$210,276
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
6.37%
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%
$4,205,520
$4.2M
Cap Rate 7%
$3,003,943
$3.0M
Cap Rate 9%
$2,336,400
$2.3M
Market Conditions
NOI Build-Up for 20,582 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
$308.7K $15.00/SF
− Vacancy
−$8.3K −$0.41/SF
EGI
$300.4K $14.59/SF
− OpEx
−$90.1K −$4.38/SF
NOI
$210.3K $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%
$4,205,520
Cap Rate 7%
$3,003,943
Cap Rate 9%
$2,336,400
Alternative Uses
Best Use
Retail
$3.00M
$2.63M – $3.50M
NOI $210,276 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.24M
$3.71M – $4.94M
NOI $296,677 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
211
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space along I-40 and Highway 412 includes additional availability for lease.
Where is this retail space located?
The property is located at 1751 Vann Drive Jackson, TN.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 20,582 square feet of retail space; 1.91‑acre site; Additional space available for lease
