New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,955,000
Office Spaces
245 Preston St, Jackson, TN 38301-4966
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-1277009
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1960
Construction
FRAME
Total area
16,284 SF
Lot
7.5 ac (326,700 SF)
Zoning code
IO
APN
057078G P 00100
UPID
US80-1277009
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
-
S.M. Lawrence Company HVAC Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.61M
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$1.96M
Owner & transaction history
Lawrence Harris · 4 yrs held
Lawrence Harris
since 2021
Last sale
$40,000
3 recorded transactions
Zoning & alternative use
IO · Jackson, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.0M
+228.6%
Auto repair, garage
$1.4M
+59.2%
Retail stores
$1.2M
+30.2%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,825,000
6.5%
$2,610,000
7%
$2,425,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,970,000
Change: +229% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,440,000
Change: +59% · Conversion: Difficult
RETAIL STORES
$1,175,000
Change: +30% · Conversion: Easy
Blend value · Realmo final
$1.96M
Range $1.76M – $2.15M · ±10% · vs last sale $40k (Aug 16 2021)
Last sale anchor
$40k
Aug 16 2021
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
$120 / 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
$12,042
Tax year 2022
Assessed value
$345,560
Assessed 2023
Previous assessed
$345,560
+0.0% YoY
Effective rate
3.48%
On assessed value
Assessed land
$36,000
Assessed improvement
$309,560
Land market value
$90,000
Improvement market value
$773,900
Total market value
$863,900
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1960
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Units
1
Bathrooms
5
Total area
16,284 SF
Lot
7.5 ac (326,700 SF)
Zoning code
IO
APN
057078G P 00100
UPID
US80-1277009
Jurisdiction
MADISON
Zoning & alternative use
IO · Jackson, TN
Zoning IO · permitted uses
IO · 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
MEDICAL BUILDING
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1960
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Units
1
Bathrooms
5
Lot
7.5 ac
Current owner
From public records · entity-resolved
Lawrence Harris
Individual
Mailing address
245 PRESTON ST, JACKSON, TN 38301-4966
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2021
$40,000
Lawrence Harris
Willie Hines
Warranty Deed
—
May 2, 2016
—
Preston Street Partners LP
—
Deed
related
$400,000 · Bancorpsouth
—
—
Preston Street Partners LP
—
Deed Of Trust
related
$400,000 · Bancorpsouth
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 245 Preston St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
