40-Unit Apartment
809 Old Hickory Blvd, Jackson, TN 38305
For Sale
$3,450,000
One- and two-bedroom apartments and cottages offer varied residential configurations across a single property.
Property Size31,304 SF
Lot Size5.00 Acres
Price / SF$110.21
Days on Market53
Property Features for 809 Old Hickory Blvd
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Multifamily Units
Building Details
Year Built
Year Renovated
Buildings
Listing Agency:
Residential Investment Advisors
Listed By:
Landon R. Hoffman · License #TN351463
(404) 345-8145
Source:
Sumnercountyhomelistings
Added: Sep 18
Changed: Nov 8
Last Checked: Nov 8 at 6:41AM
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 Residential Investment Advisors
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Investment Insights
Based on property information with market context.
At 809 Old Hickory Boulevard in Jackson, this 40-unit apartment community comprises four eight-unit buildings and eight two-bedroom cottages. The property totals 31,304 square feet on five acres, with one-bedroom apartments, two-bedroom apartments, and two-bedroom cottages in the unit mix. The community was built in 1972.
Apartment interiors were renovated in 2022, alongside new roofs, windows, and 32 HVAC systems.
Apartment interiors were renovated in 2022, alongside new roofs, windows, and 32 HVAC systems.
Key Highlights
- 40 units across four eight‑unit apartment buildings and eight two‑bedroom cottages
- 31,304 square feet on a five‑acre property
- Apartment interiors renovated in 2022, with new roofs and windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,748
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,234,960
$3.2M
Cap Rate 7%
$2,310,686
$2.3M
Cap Rate 9%
$1,797,200
$1.8M
Market Conditions
NOI Build-Up for 31,304 SF
Gross rent
$315.5K $10.08/SF
− Vacancy
−$21.5K −$0.69/SF
EGI
$294.1K $9.39/SF
− OpEx
−$132.3K −$4.23/SF
NOI
$161.7K $5.17/SF
Area
Madison County, TN
Vacancy
6.80%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,234,960
Cap Rate 7%
$2,310,686
Cap Rate 9%
$1,797,200
Alternative Uses
Best Use
Apartment 5plus
$2.31M
$2.02M – $2.70M
NOI $161,748 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.45M
$5.64M – $7.52M
NOI $451,228 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
40
Residential units
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - One- and two-bedroom apartments and cottages offer varied residential configurations across a single property.
Where is this apartment building located?
The property is located at 809 Old Hickory Blvd Jackson, TN.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: 40 units across four eight‑unit apartment buildings and eight two‑bedroom cottages; 31,304 square feet on a five‑acre property; Apartment interiors renovated in 2022, with new roofs and windows
