Office Building with Open Floor
New
For Sale
$3,100,000
4829 US-45 N Bypass, Jackson, TN 38305
Commercial Sale, Jackson, TN
Property Size36,481 SF
Lot Size10.56 Acres
Price / SF$84.98
Days on Market2
Property Features for 4829 US-45 N Bypass
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
I-2
Parking
342
Security features
Security System
Elementary school district
Jackson Madison Consolidated District
Standard status
Active
APN
027 021.04
Size
36,481 SF
Lot size
10.56 Acres
Taxes and HOA fees
Tax Annual Amount
49548
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
landscaped yard areas
patio and courtyard
secured rear courtyard
pond
Building Details
Year built
2000
Floors in Building
1
Flooring type
Vinyl, Concrete, Carpet
Building materials
Brick
Roof type
Flat
Listing Agency:
Haltom Real Estate Group
(731) 984-2200
Listed By:
Kathryn Tucker · License #375976
(731) 225-9001
Added: Sep 23
Last Checked: Sep 24 at 5:06PM
MLS# 2604494
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.
The property includes a 36,481-square-foot brick office building constructed in 2000 on 10.56 acres. Formerly configured as a call center, the interior has an open work environment with furniture for approximately 400 workstations, seven private offices, two training rooms with combined seating for 50, and four conference rooms. Vinyl, concrete, and carpet flooring are installed throughout, with a flat roof and central HVAC systems.
Site improvements include a 342-space lighted parking lot, landscaped yard areas, a patio, courtyard, secured rear courtyard, and pond. The property is zoned I-2 (Light Industrial), with public water and public sewer. It fronts US-45 N Bypass in Jackson, approximately 1 hour 25 minutes from Memphis International Airport and 2 hours 5 minutes from Nashville International Airport.
Site improvements include a 342-space lighted parking lot, landscaped yard areas, a patio, courtyard, secured rear courtyard, and pond. The property is zoned I-2 (Light Industrial), with public water and public sewer. It fronts US-45 N Bypass in Jackson, approximately 1 hour 25 minutes from Memphis International Airport and 2 hours 5 minutes from Nashville International Airport.
Key Highlights
- 36,481 SF brick office building on 10.56 acres
- Furniture in place for approximately 400 workstations
- Seven private offices, two training rooms, and four conference rooms
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
$222,833
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
7.19%
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%
$4,456,660
$4.5M
Cap Rate 7%
$3,183,329
$3.2M
Cap Rate 9%
$2,475,922
$2.5M
Market Conditions
NOI Build-Up for 36,481 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
$359.0K $9.84/SF
− Vacancy
−$16.2K −$0.44/SF
EGI
$342.8K $9.40/SF
− OpEx
−$120.0K −$3.29/SF
NOI
$222.8K $6.11/SF
Area
Madison County, TN
Vacancy
4.50%
Lease Rate
$9.84 /SF/Yr
Expense Ratio
35.00%
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%
$4,456,660
Cap Rate 7%
$3,183,329
Cap Rate 9%
$2,475,922
Alternative Uses
Best Use
Office B
$5.56M
$4.87M – $6.49M
NOI $389,300 @ 7.0% cap · market cap 12.56%
Second Best
Flex RnD
$3.18M
$2.79M – $3.71M
NOI $222,833 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$7.51M
$6.57M – $8.76M
NOI $525,852 @ 7.0% cap · market cap 16.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - I-2-zoned office property with central heating and cooling, public utilities, and a landscaped site along US-45 N Bypass.
Where is this office building located?
The property is located at 4829 US-45 N Bypass Jackson, TN.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 36,481 SF brick office building on 10.56 acres; Furniture in place for approximately 400 workstations; Seven private offices, two training rooms, and four conference rooms
