Multi-Tenant Shopping
721 Old Hickory Boulevard, Jackson, TN 38305
For Sale
Contact for pricing
The center is fully occupied, with a predominantly service-based tenant roster.
Property Size8,910 SF
Price / SF$114.32
Days on Market46
Property Features for 721 Old Hickory Boulevard
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Traffic Count
Highway Access
Additional Details
Tenant in Place
Building Details
Tenancy
Listing Agency:
Matthews
Listed By:
Robert Tate · License TN #373106
Source:
Crexi
Added: Sep 25
Changed: Nov 8
Last Checked: Nov 8 at 3:59PM
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 Matthews
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Investment Insights
Based on property information with market context.
This 8,910-square-foot retail center in Jackson has four tenants and is fully occupied. Three tenants have been in place for more than 10 years and signed new leases in 2023 and 2024. A recently installed TPO roof and replacement of most HVAC units within the past 5–8 years are among the property’s physical updates.
The center is near Hamilton Hills Shopping Center, a 383,328-square-foot retail destination, and just off U.S. Highway 45 Bypass, where traffic exceeds 43,000 vehicles per day.
The center is near Hamilton Hills Shopping Center, a 383,328-square-foot retail destination, and just off U.S. Highway 45 Bypass, where traffic exceeds 43,000 vehicles per day.
Key Highlights
- 8,910‑square‑foot retail center with four tenants; fully occupied
- Three of four tenants have occupied the center for more than 10 years
- Three tenants signed new lease agreements in 2023 and 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,029
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,820,580
$1.8M
Cap Rate 7%
$1,300,414
$1.3M
Cap Rate 9%
$1,011,433
$1.0M
Market Conditions
NOI Build-Up for 8,910 SF
Gross rent
$133.7K $15.00/SF
− Vacancy
−$3.6K −$0.41/SF
EGI
$130.0K $14.59/SF
− OpEx
−$39.0K −$4.38/SF
NOI
$91.0K $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 Rate 5%
$1,820,580
Cap Rate 7%
$1,300,414
Cap Rate 9%
$1,011,433
Alternative Uses
Best Use
Retail
$1.30M
$1.14M – $1.52M
NOI $91,029 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.61M – $2.14M
NOI $128,432 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
43,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
Under-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
Similar Off Market Nearby
- Hamilton Hills Shopping Center — 581 Old Hickory Blvd, Jackson, TN 38305
Frequently Asked Questions
What type of property is this?
Shopping center - The center is fully occupied, with a predominantly service-based tenant roster.
Where is this shopping center located?
The property is located at 721 Old Hickory Boulevard Jackson, TN.
What is the asking price?
The asking price for this property is $1,018,586.
What are key features of this property?
This property features: 8,910‑square‑foot retail center with four tenants; fully occupied; Three of four tenants have occupied the center for more than 10 years; Three tenants signed new lease agreements in 2023 and 2024
