Renovated 8-Unit Apartment
For Sale
Contact for pricing
183 Campbell Street, Jackson, TN 38301
Fully updated multifamily property with modern interiors, upgraded building systems, and on-site laundry facilities.
Property Size5,200 SF
Price / SF$182.69
Days on Market9
Property Features for 183 Campbell Street
General Information
Standard status
Active
Size
5,200 SF
Property subtype
Multifamily
Investment Type
Value Add
Net Operating Income
$67,204
Additional Details
Multifamily Units
8
Amenities
on-site laundry
Building Details
Year Built
1970
Year Renovated
2024
Buildings
1
Units
8
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Nashville
Listed By:
Patrick Cosgrove · License #TN 341774
Source:
Crexi
Added: Aug 3
Changed: Aug 11
Last Checked: Aug 9 at 9:59AM
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 Marcus & Millichap - Nashville
Investment Insights
Based on property information with market context.
This 5,200-square-foot apartment property contains eight units and underwent a comprehensive renovation in 2024. Improvements include refreshed unit interiors, plumbing and electrical upgrades, new windows, a tankless water heater system, and exterior enhancements. On-site laundry facilities serve the property’s residents.
Built in 1970, the asset is located at 183 Campbell Street in Jackson, Tennessee, near Downtown Jackson. The surrounding area provides access to major employment, healthcare, retail, and entertainment destinations.
Built in 1970, the asset is located at 183 Campbell Street in Jackson, Tennessee, near Downtown Jackson. The surrounding area provides access to major employment, healthcare, retail, and entertainment destinations.
Key Highlights
- Eight‑unit multifamily asset with 5,200 square feet
- Comprehensively renovated in 2024
- Updated interiors across all units
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
$26,868
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
2.83%
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%
$537,360
$537.4K
Cap Rate 7%
$383,829
$383.8K
Cap Rate 9%
$298,533
$298.5K
Market Conditions
NOI Build-Up for 5,200 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
$52.4K $10.08/SF
− Vacancy
−$3.6K −$0.69/SF
EGI
$48.9K $9.39/SF
− OpEx
−$22.0K −$4.23/SF
NOI
$26.9K $5.17/SF
Area
Madison County, TN
Vacancy
6.80%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
45.00%
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%
$537,360
Cap Rate 7%
$383,829
Cap Rate 9%
$298,533
Alternative Uses
Best Use
Apartment 5plus
$383.8K
$335.9K – $447.8K
NOI $26,868 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$936.9K – $1.25M
NOI $74,955 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
521
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully updated multifamily property with modern interiors, upgraded building systems, and on-site laundry facilities.
Where is this apartment building located?
The property is located at 183 Campbell Street Jackson, TN.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Eight‑unit multifamily asset with 5,200 square feet; Comprehensively renovated in 2024; Updated interiors across all units
