Vacant Restaurant
1938 Highway 45 Byp, Jackson, TN 38305
For Sale
$469,000
Pending
Commercial Sale, Jackson, TN
Property Size2,261 SF
Days on Market1131
Property Features for 1938 Highway 45 Byp
General Information
Property type
Property subtype
Zoning description
Parking
Lot features
Directions
Standard status
APN
Size
Additional Details
Property Use
Utilities
Heating system
Cooling system
Building Details
Floors in Building
Flooring type
Building materials
Listing Agency:
Total Realty Source
(731) 574-9340
Listed By:
Lynda C Climer · License TN #54466
(731) 217-3827
Added: Oct 10, 2023
Changed: Nov 13
Last Checked: Nov 13 at 7:06PM
MLS# 234262
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.
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Investment Insights
Based on property information with market context.
This vacant restaurant property contains 2261 square feet and has an existing commercial building constructed with concrete, a steel frame, and stone. Interior finishes include concrete and vinyl flooring. The building has been used for restaurant operations and is equipped with central heating powered by natural gas and electric cooling.
The property is located at 1938 Highway 45 Byp in Jackson, Tennessee, with exposure to 45 Bypass and Carriage House Drive. Its configuration also supports consideration for office, retail, or restaurant use, as identified for the property.
The property is located at 1938 Highway 45 Byp in Jackson, Tennessee, with exposure to 45 Bypass and Carriage House Drive. Its configuration also supports consideration for office, retail, or restaurant use, as identified for the property.
Key Highlights
- 2261 square feet of commercial building area
- Currently vacant with prior restaurant use
- Exposure to 45 Bypass and Carriage House Drive
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,699
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
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
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 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
—
—
no second resolved use
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
Under-served
Demand for This Use
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
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Vacant restaurant property with central heating, electric cooling, and access exposure along Highway 45 Bypass.
Where is this conventional restaurant 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: 2261 square feet of commercial building area; Currently vacant with prior restaurant use; Exposure to 45 Bypass and Carriage House Drive
