Five-Tenant NNN
For Sale
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2046 Pleasant Plains Extension, Jackson, TN 38305
Built in 2019, this commercial property has five tenants operating under triple-net lease agreements.
Property Size10,017 SF
Price / SF$320.62
Days on Market8
Property Features for 2046 Pleasant Plains Extension
General Information
Standard status
Active
Size
10,017 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$216,784
Building Details
Year Built
2019
Units
5
Tenancy
Multi
Listing Agency:
Sands Investment Group Austin - Offenbecher
Listed By:
Ethan Offenbecher · License #TX 642658
Source:
Crexi
Added: Aug 3
Changed: Aug 10
Last Checked: Aug 10 at 5:35AM
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 Sands Investment Group Austin - Offenbecher
Investment Insights
Based on property information with market context.
Pleasant Plains is a 10,017-square-foot commercial property at 2046 Pleasant Plains Extension in Jackson, Tennessee. Constructed in 2019, the property is occupied by five tenants operating under triple-net lease agreements.
Under the lease structure, tenants are responsible for CAM, property taxes, and insurance on a pro-rata basis. This arrangement assigns specified operating expenses to the occupants while providing a clearly defined framework for landlord and tenant responsibilities.
Under the lease structure, tenants are responsible for CAM, property taxes, and insurance on a pro-rata basis. This arrangement assigns specified operating expenses to the occupants while providing a clearly defined framework for landlord and tenant responsibilities.
Key Highlights
- 10,017‑square‑foot commercial property
- Five tenants in place
- Triple‑net lease structure
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
$102,339
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
3.19%
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%
$2,046,780
$2.0M
Cap Rate 7%
$1,461,986
$1.5M
Cap Rate 9%
$1,137,100
$1.1M
Market Conditions
NOI Build-Up for 10,017 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
$150.3K $15.00/SF
− Vacancy
−$4.1K −$0.41/SF
EGI
$146.2K $14.59/SF
− OpEx
−$43.9K −$4.38/SF
NOI
$102.3K $10.22/SF
Area
Madison County, TN
Vacancy
2.70%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,046,780
Cap Rate 7%
$1,461,986
Cap Rate 9%
$1,137,100
Alternative Uses
Best Use
Retail
$1.46M
$1.28M – $1.71M
NOI $102,339 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.06M
$1.80M – $2.41M
NOI $144,389 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
797
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?
NNN property - Built in 2019, this commercial property has five tenants operating under triple-net lease agreements.
Where is this nnn property located?
The property is located at 2046 Pleasant Plains Extension Jackson, TN.
What is the asking price?
The asking price for this property is $3,211,615.
What are key features of this property?
This property features: 10,017‑square‑foot commercial property; Five tenants in place; Triple‑net lease structure
