Historic Jackson Property with
For Sale
$500,000
423 HIGHLAND Avenue N, Jackson, TN 38301
COMMERCIAL - Jackson, TN
Property Size4,362 SF
Price / SF$114.63
Days on Market411
Property Features for 423 HIGHLAND Avenue N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
COMMERCIAL
Parking
12
Security features
Security System
Elementary school district
Jackson Madison Consolidated District
Directions
Beginning at the Intersection of Old Hickory Blvd and N Highland Av- Turn Right on N Highland Av- The Office is on the Right
Standard status
Active
APN
078H R 024.00
Size
4,362 SF
Taxes and HOA fees
Tax Annual Amount
4213
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1930
Floors in Building
3
Flooring type
Carpet, Hardwood
Building materials
Brick
Roof type
Composition
Listing Agency:
CENTURY 21 Action Realty · Century 21 Real Estate
(731) 668-7700
Listed By:
Sandra Anderson Carter · License #302150
(731) 928-9535
Added: Jun 27, 2025
Changed: Aug 4
Last Checked: Aug 11 at 6:06PM
MLS# 2503105
Copyright © 2026 Central West Tennessee Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in the heart of Jackson's historic district, this 4,362 sq ft brick residence, constructed in 1930, offers a blend of vintage character and versatile space. The two-story property features three full bathrooms, multiple fireplaces, and original hardwood flooring. Situated on a 0.38-acre lot, the property includes a gable/hip roof and composition shingles. The interior boasts soaring ceilings and coal/wood-burning fireplaces, along with an unfinished basement providing nearly 2,000 sq ft of potential. Zoned RG-2/H, the location is suitable for single-family, multi-family, or two-family dwellings, making it ideal for investors or those seeking a live-work space. This property is suited for a boutique office, a bed-and-breakfast, or a personal residence.
Key Highlights
- Versatile RG‑2/H zoning allows for single‑family, multi‑family, or two‑family dwellings, suitable for investors or live‑work spaces.
- Expansive 4,362 sq ft historic brick residence built in 1930 with timeless character.
- Prime location in the heart of Jackson's historic district.
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
$45,441
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
9.09%
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%
$908,820
$908.8K
Cap Rate 7%
$649,157
$649.2K
Cap Rate 9%
$504,900
$504.9K
Market Conditions
NOI Build-Up for 4,362 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
$78.5K $18.00/SF
− Vacancy
−$5.8K −$1.33/SF
EGI
$72.7K $16.67/SF
− OpEx
−$27.3K −$6.25/SF
NOI
$45.4K $10.42/SF
Area
Madison County, TN
Vacancy
7.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$908,820
Cap Rate 7%
$649,157
Cap Rate 9%
$504,900
Alternative Uses
Best Use
Office B
$665.0K
$581.9K – $775.8K
NOI $46,548 @ 7.0% cap · market cap 9.31%
Second Best
Mixed Use
$649.2K
$568.0K – $757.4K
NOI $45,441 @ 7.0% cap · market cap 9.09%
Theoretical Best
Office A
$898.2K
$786.0K – $1.05M
NOI $62,876 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,135
Businesses Nearby
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 Office 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?
Single family property - Spacious 4,362 sq ft property in Jackson's historic district.
Where is this single family property located?
The property is located at 423 HIGHLAND Avenue N Jackson, TN.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Versatile RG‑2/H zoning allows for single‑family, multi‑family, or two‑family dwellings, suitable for investors or live‑work spaces.; Expansive 4,362 sq ft historic brick residence built in 1930 with timeless character.; Prime location in the heart of Jackson's historic district.
