Established Cracker Barrel Restaurant For
For Sale
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188 Vann Dr, Jackson, TN
Single-tenant Cracker Barrel in Jackson, TN with strong revenue.
Property Size10,000 SF
Lot Size2.83 Acres
Price / SF$222.30
Days on Market379
Property Features for 188 Vann Dr
General Information
Standard status
Active
Size
10,000 SF
Lot size
2.83 Acres
Property subtype
RETAIL
Listing Agency:
JLL | Miami
(305) 704-1403
Listed By:
Alex Sharrin · License #IL 475.170243
(305) 913-5545
Source:
Moodyscre
Added: Aug 26, 2025
Changed: Sep 4
Last Checked: Sep 7 at 10:46AM
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 JLL | Miami
Investment Insights
Based on property information with market context.
The property is a single-tenant Cracker Barrel restaurant located at 188 Vann Drive, Jackson, TN. Situated strategically between Memphis and Nashville, the property benefits from high traffic along I-40 and U.S. Route 45, with a combined traffic volume of 81,000 vehicles per day. The Cracker Barrel location has been operating in Jackson, TN for over 10 years and ranks in the top 34% most visited in the state of Tennessee. Cracker Barrel has more than 660 locations across 44 states and reported nearly $3.5 billion in revenue during fiscal year 2024, representing a 0.8% year-over-year increase. The property offers a secure income stream backed by a nationally recognized brand with over five decades of operational success and continued revenue growth. The property size is 10,000 square feet.
Key Highlights
- Secure income stream from a nationally recognized brand (Cracker Barrel) with over 50 years of operational success.
- High‑traffic location situated between Memphis and Nashville along I‑40 and U.S. Route 45, with a combined 81,000 vehicles per day.
- Cracker Barrel's strong financial performance, reporting nearly $3.5 billion in revenue in fiscal year 2024.
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
$131,355
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
5.91%
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%
$2,627,100
$2.6M
Cap Rate 7%
$1,876,500
$1.9M
Cap Rate 9%
$1,459,500
$1.5M
Market Conditions
NOI Build-Up for 10,000 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
$180.0K $18.00/SF
− Vacancy
−$4.9K −$0.49/SF
EGI
$175.1K $17.51/SF
− OpEx
−$43.8K −$4.38/SF
NOI
$131.4K $13.14/SF
Area
Madison County, TN
Vacancy
2.70%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,627,100
Cap Rate 7%
$1,876,500
Cap Rate 9%
$1,459,500
Alternative Uses
Best Use
Specialty Retail
$1.88M
$1.64M – $2.19M
NOI $131,355 @ 7.0% cap · market cap 5.91%
Second Best
Retail
$1.46M
$1.28M – $1.70M
NOI $102,165 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$2.06M
$1.80M – $2.40M
NOI $144,144 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Single-tenant Cracker Barrel in Jackson, TN with strong revenue.
Where is this breakfast & diner located?
The property is located at 188 Vann Dr Jackson, TN.
What is the asking price?
The asking price for this property is $2,223,000.
What are key features of this property?
This property features: Secure income stream from a nationally recognized brand (Cracker Barrel) with over 50 years of operational success.; High‑traffic location situated between Memphis and Nashville along I‑40 and U.S. Route 45, with a combined 81,000 vehicles per day.; Cracker Barrel's strong financial performance, reporting nearly $3.5 billion in revenue in fiscal year 2024.
