3132 Highland Ave Jackson, TN 38305
- Retail properties
- 4,748 SF
Current Use by Public Records
- Retail properties
Property Details for 3132 Highland Ave
- Year built
- 2024
- Property size
- 4,748 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a brand-new, 4,748-square-foot auto shop in Jackson, Tennessee, currently under construction and slated for completion in 2024. The property boasts a 15-year absolute triple-net (NNN) lease with Express Oil, backed by a corporate guarantee from EOC Group Inc., a B-rated entity with a stable outlook. The lease features five, five-year renewal options and built-in rent increases of 7.5% every five years, ensuring consistent income growth. Located at 3132 N Highland Ave, this fee-simple property sits on approximately 10.7 acres, providing ample parking. The strategic location, adjacent to Walgreens and near Kroger, benefits from high visibility and significant traffic counts exceeding 120,900 vehicles per day on Highland Avenue. The property's essential service nature, coupled with the established reputation of Express Oil and the growing Jackson market (population over 65,000), makes this a compelling investment with a 6.14% cap rate and a $2,150,000 asking price ($452.82/sq ft). The lease commences July 1, 2024, offering immediate return on investment. This is a rare opportunity to acquire a high-performing, low-maintenance asset in a thriving market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jackson
- County
- Madison
- State
- Tennessee
- Longitude
- -88.8292
- Latitude
- 35.695
