Vacant Restaurant
For Sale
$469,000
Pending
1938 Highway 45 Byp, Jackson, TN 38305
Commercial Sale, Jackson, TN
Property Size2,261 SF
Days on Market1102
Property Features for 1938 Highway 45 Byp
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Zoned Commercial / Land use Restaurant
Parking
27
Directions
From 45 Bypass, turn east onto Carriage House Drive - take first left onto Hwy 45 Bypass service road. Building is 2nd on right. From No. Highland Avenue - turn west onto Carriage House Drive. Follow it to Wiley Parker Road - turn right and continue to 1938 Bypass US 45 No.
Standard status
Pending
APN
055K C 008.01
Size
2,261 SF
Utilities
Heating system
Central, Natural Gas
Cooling system
Electric
Building Details
Floors in Building
1
Flooring type
Vinyl, Concrete
Building materials
Concrete, Steel Frame, Stone
Listing Agency:
Total Realty Source
(731) 574-9340
Listed By:
Lynda C Climer · License #54466
(731) 217-3827
Added: Oct 10, 2023
Changed: Sep 16
Last Checked: Oct 15 at 8:06AM
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.
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
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
