805 Parkway Jackson, TN 38305
- Office Properties & Spaces
- 40,576 SF
- 2.98 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 805 Parkway
- Year built
- 1993
- Lot size
- 2.98 lot acres
- Property size
- 40,576 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
Exceptional investment opportunity: a 40,576 square foot medical office building in Jackson, Tennessee, currently 100% occupied by West Tennessee Healthcare, Inc. under a net lease with a corporate guarantee. The lease, commencing September 1, 2022, has a remaining term of approximately 7.8 years, with two 5-year renewal options. The building, constructed in 1993 and situated on a 2.98-acre lot at 805 North Parkway, Jackson, TN 38305, boasts a strong 7.00% cap rate and a Net Operating Income (NOI) of $717,659. The asking price is $10,252,280, translating to $252.67 per square foot. Annual rent increases of 2% are built into the lease, providing an inflation hedge. Landlord responsibilities are limited to roof and structure maintenance under the double net (NN) lease terms. West Tennessee Healthcare, Inc., a leading regional healthcare provider with a robust network of facilities, ensures a stable and reliable tenant with an A-credit rating. The property's healthcare focus provides inherent market resilience, making it a compelling investment in a stable sector. This offering presents a secure, long-term income stream with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jackson
- County
- Madison
- State
- Tennessee
- Longitude
- -88.8341
- Latitude
- 35.6521
