1003 E Jackson Blvd, Unit 2 Jonesborough, TN 37659

Property Details for 1003 E Jackson Blvd

Year built

1960

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

103.00 lot acres

Property size

8,460 SF

Zone code

B1

Property type

Retail space

APN

052K A 02701

APU

052KA02701

Description

This exceptional mixed-use investment property, located at 1003 E Jackson Blvd in historic Jonesborough, Tennessee, presents a compelling opportunity. The 7,980 square foot building, constructed in 1960, features four units situated on a 0.53-acre lot with 15 parking spaces. Currently operating at 50% occupancy, the property boasts a strong pro-forma NOI of $70,453, translating to a pro-forma cap rate of 9.72%. The asking price is $725,000, representing a price per square foot of $90.85 and a price per unit of $181,250. The building benefits from high traffic counts and ample road frontage. The property is zoned commercial and classified as Class C. The current NOI is $24,164, with a projected full occupancy date of February 9, 2025. All four units are under triple net (NNN) leases, meaning tenants cover property taxes, insurance, and maintenance. Two of the units have been occupied for 25 years. Two vacant units, each 2,177 square feet with road frontage, are available for lease at $1,814 per month plus CAM fees. This property offers significant upside potential for investors seeking a strong return in a desirable location. The building's diverse tenant mix includes medical office, restaurant, and storefront spaces, catering to a variety of business needs.

Location Insight

City

Jonesborough

County

Washington

State

Tennessee

Longitude

-82.4584

Latitude

36.3025

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments