Vacant Mixed-Use
For Sale
Contact for pricing
Pending
1938 Highway 45 Byp, Jackson, TN 38305
Building supports office, retail, or restaurant use and has a documented restaurant operating history.
Property Size2,261 SF
Days on Market660
Property Features for 1938 Highway 45 Byp
General Information
Standard status
Pending
Size
2,261 SF
Total Parking Spaces
27
Property subtype
Mixed Use
Additional Details
Highway Access
Yes
Building Details
Stories
1
Listing Agency:
Total Realty Source
(731) 217-3827
Listed By:
Lynda Climer · License #54466
Source:
Crexi
Added: Nov 8, 2024
Changed: Aug 30
Last Checked: Aug 30 at 2:53PM
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 Total Realty Source
Investment Insights
Based on property information with market context.
This mixed-use property includes a 2,261-square-foot building that is currently vacant. The structure has previously operated as a restaurant and is positioned for office, retail, or restaurant use based on the stated property configuration.
The address is 1938 Highway 45 Byp in Jackson, Tennessee. The site has exposure to Highway 45 Bypass and Carriage House Drive, providing visibility from both named roadways.
The address is 1938 Highway 45 Byp in Jackson, Tennessee. The site has exposure to Highway 45 Bypass and Carriage House Drive, providing visibility from both named roadways.
Key Highlights
- 2,261‑square‑foot mixed‑use building
- Currently vacant
- Previously used for restaurant operations
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
$29,699
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
6.33%
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%
$593,980
$594.0K
Cap Rate 7%
$424,271
$424.3K
Cap Rate 9%
$329,989
$330.0K
Market Conditions
NOI Build-Up for 2,261 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
$40.7K $18.00/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$39.6K $17.51/SF
− OpEx
−$9.9K −$4.38/SF
NOI
$29.7K $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%
$593,980
Cap Rate 7%
$424,271
Cap Rate 9%
$329,989
Alternative Uses
Best Use
Specialty Retail
$424.3K
$371.2K – $495.0K
NOI $29,699 @ 7.0% cap · market cap 6.33%
Second Best
Mixed Use
$336.5K
$294.4K – $392.6K
NOI $23,554 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$465.6K
$407.4K – $543.2K
NOI $32,591 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
855
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Building supports office, retail, or restaurant use and has a documented restaurant operating history.
Where is this mixed-use property located?
The property is located at 1938 Highway 45 Byp Jackson, TN.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 2,261‑square‑foot mixed‑use building; Currently vacant; Previously used for restaurant operations
