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    Property profile & analytics

    2244 Highland Ave Jackson, TN 38305-4952

    • Retail space
    • 11,074 SF
    • 1.37 lot acres
    OFF-MARKET
    Last Sale
    Mar 05, 2020
    $750,000
    Value Estimations
    $950,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0334522
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 2244 Highland Ave

    Year built
    1973
    Lot size
    1.37 lot acres
    Property size
    11,074 SF
    Zone code
    B5
    Property type
    Retail space
    APN
    057056I A 00402
    APU
    057056IA00402

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $955,000
      ML approach
      $865,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,048,000
      Market price range: $708k - $2.32M
      AI Estimate
      $632,000
      Market price range: $346k - $1.47M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Madison
    State
    Tennessee
    Longitude
    -88.8282
    Latitude
    35.6646
    CBSA code
    27180
    CBSA name
    JACKSON, TN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $10,206
    $139,760
    $153,080
    $292,840
    -
    $349,400
    $382,700
    $732,100

    Comparable in this City

    • Value Estimation
      $615,000
      30,307 SF

      53 Carriage House Dr

      RETAIL STORES (PERSONAL SERVICES) • 30,307 SF
      53 Carriage House Dr, Jackson, TN 38305-4255
      View Details
    • Value Estimation
      $270,000
      1,825 SF

      1945 Hwy 70th E

      RETAIL STORES (PERSONAL SERVICES) • 1,825 SF
      1945 Hwy 70th E, Jackson, TN 38305
      View Details
    • Value Estimation by Request
      1,640 SF

      146 Miller Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,640 SF
      146 Miller Ave, Jackson, TN 38305-4374
      View Details
    • Value Estimation by Request
      12,390 SF

      50 Lanese Dockery Dr

      RETAIL STORES (PERSONAL SERVICES) • 12,390 SF
      50 Lanese Dockery Dr, Jackson, TN 38305
      View Details
    • Value Estimation
      $500,000
      10,250 SF

      1151 Vann Dr

      RETAIL STORES (PERSONAL SERVICES) • 10,250 SF
      1151 Vann Dr, Jackson, TN 38305-6098
      View Details
    • Value Estimation
      $285,000
      4,145 SF

      2150 Highland Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,145 SF
      2150 Highland Ave, Jackson, TN 38305-4953
      View Details

    Similar Nearby for Sale

    • $350,000
      1,962 SF

      Retail Property in Jackson, TN

      Retail property for sale in Jackson, Tennessee, Madison County.
      385 Parkway North, Jackson, TN 38305
      View Details
    • Contact for pricing
      2,575 SF

      Retail Redevelopment in Jackson, TN

      Class A retail redevelopment opportunity in Jackson's premiere retail corridor.
      817 Vann Dr, Jackson, TN 38305
      View Details
    • $1,450,000
      27,920 SF

      Hollywood Drive Storefront

      Prime Jackson, TN Retail Space
      2058 Hollywood Dr, Jackson, TN 38305
      View Details
    • $3,500,000
      20,582 SF

      Vann Drive Mixed-Use Investment

      Prime Jackson, TN location; high-traffic, multi-tenant opportunity.
      1751 Vann Dr, Jackson, TN 38305
      View Details
    • $4,125,000
      6,043 SF

      Retail Investment Opportunity in Jackson

      Stand-alone Verizon building with national credit lease in prime retail development.
      1017 Vann Dr, Jackson, TN 38305
      View Details
    • $950,000

      Jackson, TN Retail Investment Opportunity

      High-traffic storefront, flexible space, great location.
      23 Heritage Sq, Jackson, TN 38305
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,060 SF

      Retail Space in High-Traffic Area

      Customizable retail spaces with high visibility and traffic.
      865 Vann Dr, Jackson, TN 38305
      View Details
    • $22 SF/Yr
      1,400 SF

      Premier Retail Space in Jackson

      12,676 SF retail space in Jackson's premier lifestyle center.
      1348 Union University Dr, Jackson, TN 38305
      View Details
    • $4,830 /Mo
      3,600 SF

      Retail Space on Vann Drive

      3600 SF retail space in Jackson's busiest commercial development.
      1000-D Vann Dr, Jackson, TN 38305
      View Details
    • $20 SF/Yr
      2,500 SF

      Retail Space Available For Rent

      2,500 square feet of retail space for lease.
      35 W University Pkwy, Jackson, TN 38305
      View Details
    • Contact for pricing
      2,949 SF

      Redevelopment Opportunity on Emporium Drive

      1-acre site with existing building, ideal for redevelopment.
      1914 Emporium Dr, Jackson, TN 38305
      View Details
    • $8 SF/Yr
      8,450 SF

      Retail Space in Regional Center

      Retail space available in established regional power center with high visibility.
      23 Carriage House Dr, Jackson, TN 38305
      View Details
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    2244 Highland Ave
    Jackson, TN 38305-4952
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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