Drive-Through Restaurant
For Sale
$1,200,000
71 Carriage House Drive, Jackson, TN 38305
Vacant restaurant property with drive-through improvements, outdoor seating, included equipment, and on-site parking.
Property Size2,768 SF
Price / SF$433.53
Days on Market294
Property Features for 71 Carriage House Drive
General Information
Standard status
Active
Size
2,768 SF
Property subtype
Retail
Additional Details
Furnished
Yes
Drive-Thru
Yes
Equipment Included
Yes
Amenities
Exterior storage
Central Air, Electric
3
19 Parking Spaces.
100x205
Asphalt.
Building Details
Year Built
1981
Listing Agency:
Hickman Realty Group Inc.-jack
(731) 616-9464
Listed By:
Chris Carothers · License #250361
(731) 616-9464
Source:
Xome
Added: Nov 10, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:02AM
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 Hickman Realty Group Inc.-jack
Investment Insights
Based on property information with market context.
The vacant restaurant building at 71 Carriage House Drive offers 2,768 square feet with a drive-through configuration and outdoor seating. The sale includes point-of-sale equipment, furniture, fixtures, and equipment, along with an updated drive-through menu board and POS system installed in 2022. Central air and electric service are included among the interior features.
The property provides 19 parking spaces on an asphalt surface. An exterior 12 x 20 storage structure is wired for service, and the site measures 100 x 205. Originally built in 1981, the building is positioned for continued restaurant use with its existing drive-through and operational improvements.
The property provides 19 parking spaces on an asphalt surface. An exterior 12 x 20 storage structure is wired for service, and the site measures 100 x 205. Originally built in 1981, the building is positioned for continued restaurant use with its existing drive-through and operational improvements.
Key Highlights
- 2,768‑square‑foot vacant restaurant building with drive‑through configuration
- Point‑of‑sale equipment, furniture, fixtures, and equipment included
- Updated drive‑through menu board and POS system installed in 2022
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
$36,359
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
3.03%
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%
$727,180
$727.2K
Cap Rate 7%
$519,414
$519.4K
Cap Rate 9%
$403,989
$404.0K
Market Conditions
NOI Build-Up for 2,768 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
$49.8K $18.00/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$48.5K $17.51/SF
− OpEx
−$12.1K −$4.38/SF
NOI
$36.4K $13.14/SF
Area
Madison County, TN
Vacancy
2.70%
Lease Rate
$18.00 /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%
$727,180
Cap Rate 7%
$519,414
Cap Rate 9%
$403,989
Alternative Uses
Best Use
Specialty Retail
$519.4K
$454.5K – $606.0K
NOI $36,359 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$570.0K
$498.7K – $665.0K
NOI $39,899 @ 7.0% cap · market cap 3.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
855
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
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?
Drive through restaurant - Vacant restaurant property with drive-through improvements, outdoor seating, included equipment, and on-site parking.
Where is this drive through restaurant located?
The property is located at 71 Carriage House Drive Jackson, TN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2,768‑square‑foot vacant restaurant building with drive‑through configuration; Point‑of‑sale equipment, furniture, fixtures, and equipment included; Updated drive‑through menu board and POS system installed in 2022
