Grocery-Anchored Shopping
For Sale
Contact for pricing
2596 Christmasville Cove, Jackson, TN 38305
Multi-tenant retail center with grocery, restaurant, specialty retail, fitness, and professional service offerings.
Property Size71,087 SF
Lot Size8.00 Acres
Price / SF$136.80
Days on Market158
Property Features for 2596 Christmasville Cove
General Information
Standard status
Active
Size
71,087 SF
Class
B
Total Parking Spaces
432
Lot size
8.00 Acres
Property subtype
Retail
Occupancy
87%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$701,725
Building Details
Year Built
2010
Buildings
1
Stories
1
Units
13
Tenancy
Multi
Listing Agency:
HCI Realty LLC
Listed By:
Josh Holcombe · License #MS 21023
Source:
Crexi
Added: Mar 27
Changed: Aug 31
Last Checked: Aug 31 at 3:20AM
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 HCI Realty LLC
Investment Insights
Based on property information with market context.
Park Place Shopping Center is a multi-tenant retail property completed in 2010, with 71,087 square feet across approximately 8 acres. The center is anchored by a grocery store and includes a mix of national retail and service tenants, a regional fitness center, restaurants, specialty shops, and professional office services. Its exterior features a finished commercial facade suited to a neighborhood shopping-center format.
The property is positioned near Interstate 40 and other major highways, providing access for area residents and visitors. It is also located across from minor league baseball and youth sports complexes, placing the center near established recreational destinations. The tenant mix combines daily-needs retail, food service, fitness, and professional services within one commercial setting.
The property is positioned near Interstate 40 and other major highways, providing access for area residents and visitors. It is also located across from minor league baseball and youth sports complexes, placing the center near established recreational destinations. The tenant mix combines daily-needs retail, food service, fitness, and professional services within one commercial setting.
Key Highlights
- 71,087‑square‑foot multi‑tenant shopping center
- Approximately 8 acres with a grocery anchor
- Completed in 2010
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
$726,260
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
7.47%
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%
$14,525,200
$14.5M
Cap Rate 7%
$10,375,143
$10.4M
Cap Rate 9%
$8,069,556
$8.1M
Market Conditions
NOI Build-Up for 71,087 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
$1.07M $15.00/SF
− Vacancy
−$28.8K −$0.41/SF
EGI
$1.04M $14.59/SF
− OpEx
−$311.3K −$4.38/SF
NOI
$726.3K $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%
$14,525,200
Cap Rate 7%
$10,375,143
Cap Rate 9%
$8,069,556
Alternative Uses
Best Use
Specialty Retail
$13.34M
$11.67M – $15.56M
NOI $933,763 @ 7.0% cap · market cap 9.60%
Second Best
Retail
$10.38M
$9.08M – $12.10M
NOI $726,260 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$14.64M
$12.81M – $17.08M
NOI $1,024,676 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Well-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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail center with grocery, restaurant, specialty retail, fitness, and professional service offerings.
Where is this shopping center located?
The property is located at 2596 Christmasville Cove Jackson, TN.
What is the asking price?
The asking price for this property is $9,725,000.
What are key features of this property?
This property features: 71,087‑square‑foot multi‑tenant shopping center; Approximately 8 acres with a grocery anchor; Completed in 2010
