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Property profile & analytics
OFF-MARKET
Estimated value
$5,455,000
Super regional malls
2021 Highland Ave, Jackson, TN 38305-4918
Entity Owned
3-yr Hold
Free & Clear
Property ID
US80-0596485
Property summary
AI-generated overview
Old Hickory Mall, located at 2021 N Highland Avenue in Jackson, Tennessee, offers a diverse range of office spaces for lease. This prominent retail center, situated conveniently off I-40 on Route 45 between Memphis and Nashville, boasts a total of 538,641 square feet. The property, originally built in 1967 and renovated in 1993, provides ample parking with 2,812 spaces. Currently, one retail space of 3,202 square feet is available. The building's diverse tenant mix includes national and local brands, as well as fast-casual dining establishments. The property is classified as Retail, Office, and Restaurant, and the available space is suitable for various office uses, including Executive Office, Coworking, Medical Office, Creative Office, and Traditional Office. Located in Madison County, Tennessee, zip code 38305, this property presents a unique opportunity for businesses seeking a high-visibility location with convenient access to major transportation routes. The property's established tenant base and strong location make it an attractive option for a variety of businesses. Contact us to learn more about this exceptional leasing opportunity.
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
60,559 SF
Lot
42 ac (1,829,520 SF)
Zoning code
SC1
APN
057055M E 00200
UPID
US80-0596485
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Rainbow Shops Clothing & Fashion Store
-
Journeys Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Spencer's (Bike/Boat/Book/etc) Store
-
Claire's Tattoo & Piercing Shop
-
Old Hickory Mall Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.46M
Owner & transaction history
Pacific Commodities LLC · 3 yrs held
Pacific Commodities LLC
since 2022
Last sale
$5.5M
6 recorded transactions
Zoning & alternative use
SC1 · Jackson, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Jackson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jackson submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,900,000
ML approach
$5,435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,570,000
Change: 0% · Conversion: Easy
RESTAURANT
$6,130,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$4,510,000
Change: 0% · Conversion: Easy
MEDICAL BUILDING
$4,350,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$5.46M
Range $4.91M – $6.00M · ±10% · vs last sale $5.47M (Dec 8 2022)
Last sale anchor
$5.47M
Dec 8 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$90 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$127,602
Tax year 2022
Assessed value
$3,661,480
Assessed 2023
Previous assessed
$5,667,840
-35.4% YoY
Effective rate
3.48%
On assessed value
Assessed land
$2,872,800
Assessed improvement
$788,680
Land market value
$7,182,000
Improvement market value
$1,971,700
Total market value
$9,153,700
Applied tax rate
57.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Buildings
10
Stories
1
Units
1
Bathrooms
70
Total area
60,559 SF
Lot
42 ac (1,829,520 SF)
Zoning code
SC1
APN
057055M E 00200
UPID
US80-0596485
Jurisdiction
MADISON
Zoning & alternative use
SC1 · Jackson, TN
Zoning SC1 · permitted uses
SC1 · Jackson, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jackson. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$6.6M
RESTAURANT
Est. value
$6.1M
RETAIL STORES
Est. value
$4.5M
MEDICAL BUILDING
Est. value
$4.4M
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
10
Units
1
Bathrooms
70
Lot
42 ac
Current owner
From public records · entity-resolved
Pacific Commodities LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 777790, HENDERSON, NV 89077-7790
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2024
—
Belk INC
—
Deed
related
$13,197,198 · Sixth Street Lending Partners
Dec 8, 2022
$5,465,000
Pacific Commodities LLC
Jackson Cfa Series LLC
Special Warranty Deed
—
Sep 7, 2021
$950,000
Jackson Cfa Series LLC
Old Hickory Mall Venture II LLC
Special Warranty Deed
$3,367,707 · Five Points Bank Of Hastings
Mar 2, 2020
$550,000
Alwahban Real Estate LLC
Old Hickory Mall Venture I LLC
Correction Deed
related
—
Feb 28, 2020
$550,000
Alwahban Real Estate LLC
Hickory Mall Venture Old II
Grant Deed
—
Jun 26, 2002
—
Hickory Mall Venture I Old
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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