Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Single Tenant Medical Leaseback Investment 28 Medical Center Dr Jackson, TN 38301

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    High-quality medical office near Jackson-Madison County General Hospital.

    Type:Office
    Added:
    Mar 5, 2026
    Days on Market:
    27
    Last Refresh:
    Mar 25 at 8:37 pm

    Property Features for Single Tenant Medical Leaseback Investment 28 Medical Center Dr

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1996

    We can help!

    Listing Contact
    Heather Witherspoon
    Heather Witherspoon

    Listing agent Heather Witherspoon License ##323659

    Listing office Buchanan Realty Group

    Listing date Mar 5, 2026

    Source Buchananrealtygroup

    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 Buchanan Realty Group

    Overview

    Medical Office Investment Opportunity

    This property presents a sale/leaseback opportunity supported by Jackson Urological Associates, a well-established urology group in West Tennessee. The practice, with six providers, benefits from a strong referral network and patient base. The property is strategically located adjacent to Jackson-Madison County General Hospital, ensuring consistent demand and connectivity with other healthcare providers. Situated at 28 Medical Center Drive in Jackson, Tennessee, the property occupies a hard corner of North Highland Avenue and Skyline Drive within Jackson’s medical corridor. This corridor serves as the central hub for healthcare in West Tennessee and is anchored by Jackson-Madison County General Hospital, less than 0.5 miles away. The Class A medical office build-out includes 17 exam rooms and 12 doctor offices, featuring a modern clinical design. The property includes 47 surface parking spaces with ADA accessibility and a covered patient drop-off. A new roof was installed in 2024. The location benefits from high visibility on a hard corner site along North Highland Avenue with strong traffic counts. The property is located in a strong regional healthcare market with growing demand for specialty medical services.
    Location Intelligence

    Current Use by Public Records

    Raymond C. Howard, ... Physician Dr. Peter G. ... Physician Don McKnight, M.D. Physician John Shaw Physician Brent J. Morris, ... Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Madison
    State
    Tennessee
    Longitude
    -88.8288
    Latitude
    35.6382

    Nearby Similar for Sale

    • $789,900
      4,828 SF

      Turnkey Office in Madison Square

      Well-maintained office building with drive-thru, safe room, and generator.
      57 Directors Row, Jackson, TN 38305
      View Details
    • $325,000
      2,552 SF

      Professional Office Investment Opportunity

      Commercial office space with NNN lease until January 2027.
      78 Lynoak Cove, Jackson, TN 38305
      View Details
    • $899,000
      5,500 SF

      Versatile Industrial Building in Jackson

      5,500 SF industrial building with warehouse and office space.
      93 Miller Avenue, Jackson, TN 38305
      View Details
    • $450,000
      5,055 SF

      Versatile Commercial Property in Jackson

      2-acre commercial property with office, warehouse, and shed.
      373 N Cumberland Street, Jackson, TN 38301
      View Details
    • $350,000
      9,020 SF

      Commercial Property with Income Potential

      Two units, storage, ample parking, high traffic, income potential.
      2053 Hollywood Drive, Jackson, TN 38305
      View Details
    • $300,000
      800 SF

      Versatile Commercial Property with Warehouses

      Commercial property featuring office space and multiple warehouses for sale.
      692 Boone Lane, Jackson, TN 38301
      View Details
    • $5,135,000
      20,000 SF

      Retail Strip Center Investment Opportunity

      Retail strip center in Jackson's commercial corridor. Value-add potential.
      1000 Vann Drive, Jackson, TN 38305
      View Details
    • $1,200,000
      2,768 SF

      Turn-Key Restaurant with Drive-Thru

      Restaurant with drive-thru in Jackson's busiest location.
      71 Carriage House Drive, Jackson, TN 38305
      View Details
    • $925,000
      15,000 SF

      Versatile Warehouse with Expansion Potential

      15,000 SF warehouse on 2.9 acres near I-40.
      75 United Drive, Jackson, TN 38305
      View Details
    • $575,000
      1,402 SF

      Restaurant on Corner Lot

      Restaurant with drive-thru on a corner lot for sale.
      1291 S Highland Avenue, Jackson, TN 38301
      View Details
    • $995,000
      7,320 SF

      Versatile Commercial Retail/Warehouse Building

      7,200 SF commercial building with showroom, office, and storage.
      91 Northstar Dr, JACKSON, TN 38305
      View Details
    • $4,125,000
      6,043 SF

      Retail Investment Opportunity in Jackson

      Stand-alone Verizon building with national credit lease in prime retail development.
      1017 Vann Drive, Jackson, TN 38305
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - High-quality medical office near Jackson-Madison County General Hospital.
    Where is this medical office space located?
    The property is located at Single Tenant Medical Leaseback Investment 28 Medical Center Dr Jackson, TN.
    What are key features of this property?
    This property features: Long‑Term Lease with established Jackson Urological Associates, providing secure, stable income.; Prime Location less than 0.5 miles from Jackson‑Madison County General Hospital in Jackson's premier medical corridor.; Class A Medical Office Build‑Out with **17 exam rooms and 12 doctor offices**.
    (731) 616-3320
    We can help!
    Listing Contact
    Heather Witherspoon
    Heather Witherspoon
    Real Estate License ID: #323659
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!