Restored Loft Apartment
For Sale
$2,000,000
217 E Deaderick Street, Jackson, TN 38301
Commercial Sale, Jackson, TN
Property Size23,727 SF
Lot Size2.10 Acres
Price / SF$84.29
Days on Market121
Property Features for 217 E Deaderick Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
None listed.
Parking
50
Elementary school district
Jackson Madison Consolidated District
Standard status
Active
APN
078I F 013.00
Size
23,727 SF
Lot size
2.10 Acres
Taxes and HOA fees
Tax Annual Amount
14176
Amenities
private fenced parking lot with coded entry
second-floor BBQ patio deck
interior hallways
Building Details
Year built
1925
Flooring type
Wood, Vinyl, Carpet
Building materials
Brick
Listing Agency:
Prosper Realty Group
(731) 215-0210
Listed By:
Laith Al-Jafari · License #381930
(731) 217-7400
Added: Jun 9
Changed: Oct 2
Last Checked: Oct 7 at 9:06AM
MLS# 2602703
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.
Originally constructed in 1925, this restored three-story brick property contains 14 loft apartments totaling 23,727 square feet on 2.1 acres. Residences offer flexible living and kitchen layouts, 12-foot ceilings, oversized monument windows, exposed brick, stainless steel appliances, in-unit washers and dryers, walk-in closets, and carpeted bedrooms. Interior hallways serve the apartments throughout the building.
Property amenities include a fenced private parking lot with coded access and a second-floor BBQ patio deck. The building is at 217 E Deaderick Street in downtown Jackson, steps from the LIFT Innovation District as well as downtown dining and entertainment. FEMA Zone X indicates minimal flood risk.
Property amenities include a fenced private parking lot with coded access and a second-floor BBQ patio deck. The building is at 217 E Deaderick Street in downtown Jackson, steps from the LIFT Innovation District as well as downtown dining and entertainment. FEMA Zone X indicates minimal flood risk.
Key Highlights
- 14 loft apartments totaling 23,727 SF
- Three‑story brick building constructed in 1925
- Situated on 2.1 acres in downtown Jackson
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,598
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,451,960
$2.5M
Cap Rate 7%
$1,751,400
$1.8M
Cap Rate 9%
$1,362,200
$1.4M
Market Conditions
NOI Build-Up for 23,727 SF
Gross rent
$239.2K $10.08/SF
− Vacancy
−$16.3K −$0.69/SF
EGI
$222.9K $9.39/SF
− OpEx
−$100.3K −$4.23/SF
NOI
$122.6K $5.17/SF
Area
Madison County, TN
Vacancy
6.80%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,451,960
Cap Rate 7%
$1,751,400
Cap Rate 9%
$1,362,200
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,598 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.89M
$4.28M – $5.70M
NOI $342,010 @ 7.0% cap · market cap 17.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
1,090
Businesses Nearby
Explore this area
Business Placement
Demographics for 38301, TN
34,170
Population
15,769
Households
2.2
Avg Household Size
37
Median Age
16%
College-Educated
85%
High-School Grad
150.9 sq mi
ZIP Area
226
Density / Sq Mi
$40,062
Median Household Income
$28,542
Median Earnings
$958
Median Rent
$119,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-story brick apartment property with loft-style residences, private parking, and shared outdoor amenity space.
Where is this apartment building located?
The property is located at 217 E Deaderick Street Jackson, TN.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 14 loft apartments totaling 23,727 SF; Three‑story brick building constructed in 1925; Situated on 2.1 acres in downtown Jackson
