Veterinary Medical Center with Surgical
New
For Sale
$650,000
84 W University Parkway, Jackson, TN 38305
Commercial Sale, Jackson, TN
Property Size3,288 SF
Lot Size0.72 Acres
Price / SF$197.69
Days on Market2
Property Features for 84 W University Parkway
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
SC-1
Parking
20
Accessibility
Accessible Approach with Ramp
Elementary school district
Jackson Madison Consolidated District
Directions
From intersection of Highland Avenue and University Parkway go West 1 block just past The Oaks on left .. Veterinary Clinic 84 W University Parkway.
Standard status
Active
APN
044 015.10
Size
3,288 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Annual Amount
6635
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air, Central, Natural Gas
Cooling system
Central Air, Electric, Ceiling Fan(s)
Water source
Public
Amenities
reception area
prep area
laboratory
surgery suite
X-ray suite
custom wash area
large and small animal rooms with drains
private break room
offices
storage
Building Details
Year built
1995
Floors in Building
1
Building materials
Block
Roof type
Metal
Listing Agency:
Hickman Realty Group Inc.-Jack
(731) 664-1006
Listed By:
Chris Carothers · License #250361
(731) 616-9464
Added: Sep 1
Last Checked: Sep 2 at 10:06AM
MLS# 2604155
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.
Purpose-built veterinary medical center offering 3,288 square feet within a 0.72-acre site. The facility includes a reception area, preparation space, laboratory, surgery suite, X-ray suite, wash area, and separate large- and small-animal rooms with drains. Additional improvements include private staff space, offices, storage, and a concrete block structure with a metal roof. Forced-air and central systems provide heating and cooling, with natural gas available.
The property is located at 84 W University Parkway in Jackson, Tennessee, across from Kroger and along a retail corridor. Public water and public sewer serve the site, and an accessible approach with ramp is provided. The property was built in 1995. FF&E is included, although the seller will retain some personal property. Showings require a minimum of 24 hours’ appointment notice.
The property is located at 84 W University Parkway in Jackson, Tennessee, across from Kroger and along a retail corridor. Public water and public sewer serve the site, and an accessible approach with ramp is provided. The property was built in 1995. FF&E is included, although the seller will retain some personal property. Showings require a minimum of 24 hours’ appointment notice.
Key Highlights
- 3,288‑square‑foot veterinary medical facility on 0.72 acres
- Purpose‑built clinical layout with laboratory, surgery suite, X‑ray suite, and prep area
- Separate large- and small‑animal rooms with drains
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
$37,201
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
5.72%
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%
$744,020
$744.0K
Cap Rate 7%
$531,443
$531.4K
Cap Rate 9%
$413,344
$413.3K
Market Conditions
NOI Build-Up for 3,288 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
$71.0K $21.60/SF
− Vacancy
−$9.0K −$2.74/SF
EGI
$62.0K $18.86/SF
− OpEx
−$24.8K −$7.54/SF
NOI
$37.2K $11.31/SF
Area
Madison County, TN
Vacancy
12.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$744,020
Cap Rate 7%
$531,443
Cap Rate 9%
$413,344
Alternative Uses
Best Use
Healthcare Medical
$531.4K
$465.0K – $620.0K
NOI $37,201 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$677.1K
$592.4K – $789.9K
NOI $47,395 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
410
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Purpose-built veterinary facility with clinical rooms, staff areas, storage, and accessibility features on a commercial retail corridor.
Where is this medical center located?
The property is located at 84 W University Parkway Jackson, TN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,288‑square‑foot veterinary medical facility on 0.72 acres; Purpose‑built clinical layout with laboratory, surgery suite, X‑ray suite, and prep area; Separate large- and small‑animal rooms with drains
