Flexible Multi-Suite Flex
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For Sale
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256 Vann Dr, Jackson, TN 38305
Separately metered improvements with three HVAC systems support divided occupancy.
Property Size6,030 SF
Lot Size0.68 Acres
Price / SF$165.66
Days on Market3
Property Features for 256 Vann Dr
General Information
Standard status
Active
Size
6,030 SF
Lot size
0.68 Acres
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
3
Building Details
Building Size
6,030 SF
Listing Agency:
Avison Young
(865) 450-8883
Listed By:
Keith Cunningham · License #364657
(865) 803-5330
Source:
Moodyscre
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 1:56PM
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 Avison Young
Investment Insights
Based on property information with market context.
This approximately 6,030 SF flex property occupies approximately 0.68 acres and is configured for either one user or multiple occupants. Two suites have been combined and updated with private offices, open work areas, a reception lobby, conference room, break room, bathrooms, and storage. The remaining suite retains its original layout. Separate meters and three HVAC systems support independent occupancy arrangements, while on-site parking can be divided among users.
The property has frontage along Vann Drive in Jackson, Tennessee, with visibility from Interstate 40. It sits within an established commercial corridor that includes retail, restaurants, hospitality, and other commercial uses. The combination of flexible interior configuration, separate building systems, and multiple parking areas accommodates a range of office, service, and retail operations.
The property has frontage along Vann Drive in Jackson, Tennessee, with visibility from Interstate 40. It sits within an established commercial corridor that includes retail, restaurants, hospitality, and other commercial uses. The combination of flexible interior configuration, separate building systems, and multiple parking areas accommodates a range of office, service, and retail operations.
Key Highlights
- Approximately 6,030 SF on approximately 0.68 acres
- Three‑suite configuration with two suites combined and updated
- Separate electric metering and three HVAC systems
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
$64,348
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
6.44%
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%
$1,286,960
$1.3M
Cap Rate 7%
$919,257
$919.3K
Cap Rate 9%
$714,978
$715.0K
Market Conditions
NOI Build-Up for 6,030 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
$102.8K $17.04/SF
− Vacancy
−$17.0K −$2.81/SF
EGI
$85.8K $14.23/SF
− OpEx
−$21.4K −$3.56/SF
NOI
$64.3K $10.67/SF
Area
Madison County, TN
Vacancy
16.50%
Lease Rate
$17.04 /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%
$1,286,960
Cap Rate 7%
$919,257
Cap Rate 9%
$714,978
Alternative Uses
Best Use
Office B
$919.3K
$804.4K – $1.07M
NOI $64,348 @ 7.0% cap · market cap 6.44%
Second Best
Retail
$880.1K
$770.1K – $1.03M
NOI $61,605 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,919 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
700
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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- Mae Lou's Cafe — Inside of Madison Place, 565 Carriage House Dr Ste 9, Jackson, TN 38305
Frequently Asked Questions
What type of property is this?
Flex space - Separately metered improvements with three HVAC systems support divided occupancy.
Where is this flex space located?
The property is located at 256 Vann Dr Jackson, TN.
What is the asking price?
The asking price for this property is $998,900.
What are key features of this property?
This property features: Approximately 6,030 SF on approximately 0.68 acres; Three‑suite configuration with two suites combined and updated; Separate electric metering and three HVAC systems
