Historic Estate with Two
248 North Cumberland Street Jackson, TN 38301
248 North Cumberland Street, Jackson, TN, 38301
Contact for pricing
For Sale
Contact for pricing
Two historic homes from the 1870s with maintained gardens and a pavilion across six parcels in an Opportunity Zone.
Property Size7,945 SF
Lot Size3.00 Acres
Price / SF$157.33
Days on Market86
Property Features for 248 North Cumberland Street
General Information
- Standard status
- Active
- Size
- 7,945 SF
- Lot size
- 3.00 Acres
- Property subtype
- Hospitality, Mixed Use, Special Purpose
Building Details
- Year Built
- 1870
Listing agency
HCB Corporation DBA
(731) 267-5067
Listed by
Chris Alexander · License #TN 326115
Source
Crexi
Added: Apr 27 Updated: Jul 20 at 7:11PM Checked: Jul 21 at 5:30AM
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 HCB Corporation DBA
Investment Insights
Based on property information with market context.
This for-sale historic estate features two historic homes dating to the 1870s, along with maintained gardens and a pavilion. The property is set across six parcels totaling 3+/- acres, offering multiple structures and outdoor amenities within the existing site configuration.
The offering is located in Downtown Jackson at 248 North Cumberland Street. It is within an Opportunity Zone and zoned RG-3.
As presented, the Leatherwood Estate provides an assemblage well-suited for owner-use or adaptive reuse given its historic buildings, garden setting, pavilion, and multi-parcel footprint.
The offering is located in Downtown Jackson at 248 North Cumberland Street. It is within an Opportunity Zone and zoned RG-3.
As presented, the Leatherwood Estate provides an assemblage well-suited for owner-use or adaptive reuse given its historic buildings, garden setting, pavilion, and multi-parcel footprint.
Key Highlights
- Two historic homes built in 1870 in the heart of Downtown Jackson
- Includes maintained gardens and a pavilion
- 3+/- acres across six parcels
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $143.0k | $18.00 |
| − Vacancy | −$3.9k | −$0.49 |
| EGI | $139.1k | $17.51 |
| − OpEx | −$34.8k | −$4.38 |
| NOI | $104.4k | $13.14 |
7,945 SF · lease $18.00/SF/yr · vacancy 2.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.49M
$1.30M – $1.74M
NOI $104,362 @ 7.0% cap · market cap 8.35%
Second Best
Hotel Hospitality
$693.9K
$607.1K – $809.5K
NOI $48,570 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,522 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hotels
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FAQs
What type of property is this?
Hotel - Two historic homes from the 1870s with maintained gardens and a pavilion across six parcels in an Opportunity Zone.
Where is this hotel located?
The property is located at 248 North Cumberland Street Jackson, TN.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Two historic homes built in 1870 in the heart of Downtown Jackson; Includes maintained gardens and a pavilion; 3+/- acres across six parcels
