Former Convenience Store
For Sale
$400,000
224 Hale St, Jackson, TN 38301
Former convenience store near Downtown Jackson with redevelopment and expansion possibilities.
Property Size1,464 SF
Lot Size0.56 Acres
Price / SF$273.22
Days on Market15
Property Features for 224 Hale St
General Information
Standard status
Active
Size
1,464 SF
Lot size
0.56 Acres
Property subtype
Commercial
Zoning
Mix
Building Details
Building Size
1,464 SF
Year Built
1930
Buildings
1
Listing Agency:
EXIT Realty Blues City
(731) 554-3948
Listed By:
Nawaf John Alashmali · License #372035
Source:
Spotlightproperties
Added: Jul 28
Changed: Aug 5
Last Checked: Aug 10 at 10:46AM
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 EXIT Realty Blues City
Investment Insights
Based on property information with market context.
This former convenience store includes a 1,464-square-foot building on approximately 0.56 acres. Constructed in 1930, the property is identified with mixed zoning and offers an existing commercial structure for continued retail use, reopening as a convenience store, or potential conversion to a laundromat. The source information also identifies possible expansion, redevelopment, and the addition of fuel pumps.
The property is located at 224 Hale St in Jackson, Tennessee, less than one mile from Downtown Jackson. Nearby context includes multiple apartment projects that have been completed or are under construction, along with new residential development in the surrounding area.
The property is located at 224 Hale St in Jackson, Tennessee, less than one mile from Downtown Jackson. Nearby context includes multiple apartment projects that have been completed or are under construction, along with new residential development in the surrounding area.
Key Highlights
- 1,464‑square‑foot former convenience store building
- Approximately 0.56‑acre lot
- Constructed in 1930
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
$19,230
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
4.81%
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%
$384,600
$384.6K
Cap Rate 7%
$274,714
$274.7K
Cap Rate 9%
$213,667
$213.7K
Market Conditions
NOI Build-Up for 1,464 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
$26.4K $18.00/SF
− Vacancy
−$712 −$0.49/SF
EGI
$25.6K $17.51/SF
− OpEx
−$6.4K −$4.38/SF
NOI
$19.2K $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%
$384,600
Cap Rate 7%
$274,714
Cap Rate 9%
$213,667
Alternative Uses
Best Use
Specialty Retail
$274.7K
$240.4K – $320.5K
NOI $19,230 @ 7.0% cap · market cap 4.81%
Second Best
Retail
$213.7K
$187.0K – $249.3K
NOI $14,957 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$301.5K
$263.8K – $351.7K
NOI $21,103 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
966
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Former convenience store near Downtown Jackson with redevelopment and expansion possibilities.
Where is this grocery and convenience store located?
The property is located at 224 Hale St Jackson, TN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,464‑square‑foot former convenience store building; Approximately 0.56‑acre lot; Constructed in 1930
