Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    294 Summar Dr Jackson, TN 38301-3915

    • Medical offices
    • 18,232 SF
    • 1.24 lot acres
    OFF-MARKET
    Last Sale
    Jan 30, 2020
    Value Estimations
    $2,255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1212717
    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

    • John White, MD / Physician
    • Gregory Mitchell, MD / Physician
    • Elly Riley, DO / Physician
    • West TN Healthcare - UT Medicine North / Public Health Department
    • Dr. Ruth E. Baker, MD / Physician

    Property Details for 294 Summar Dr

    Year built
    1978
    Construction
    FRAME
    Lot size
    1.24 lot acres
    Property size
    18,232 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    057065P J 00402
    APU
    057065PJ00402

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $3,325,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Madison
    State
    Tennessee
    Longitude
    -88.8329
    Latitude
    35.6385
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $279,000
    $1,955,300
    $2,234,300

    Comparable in this City

    • Value Estimation by Request
      2,225 SF

      67 Bolivar Hwy

      MEDICAL BUILDING • 2,225 SF
      67 Bolivar Hwy, Jackson, TN 38301-7810
      View Details
    • Value Estimation by Request
      3,799 SF

      779 Frst Ave

      MEDICAL BUILDING • 3,799 SF
      779 Frst Ave, Jackson, TN 38301-3943
      View Details
    • Value Estimation by Request
      2,464 SF

      201 Grand St

      MEDICAL BUILDING • 2,464 SF
      201 Grand St, Jackson, TN 38301-4820
      View Details
    • Value Estimation by Request
      1,648 SF

      3475 Harts Brg Rd

      MEDICAL BUILDING • 1,648 SF
      3475 Harts Brg Rd, Jackson, TN 38301
      View Details
    • Value Estimation
      $4,940,000
      40,922 SF

      569 Skyline Dr

      MEDICAL BUILDING • 40,922 SF
      569 Skyline Dr, Jackson, TN 38301-3911
      View Details
    • Value Estimation by Request
      3,233 SF

      344 Hays Ave

      MEDICAL BUILDING • 3,233 SF
      344 Hays Ave, Jackson, TN 38301-6441
      View Details

    Similar Nearby for Sale

    • $1,750,000
      45,000 SF

      Historic Jackson Office Building

      45,000 SF Executive Office, $1.75M
      118 Church St, Jackson, TN 38301
      View Details
    • $199,999
      2,500 SF

      Downtown Jackson Office Space

      Prime Location, Huge Parking Lot, Ready to Renovate
      418 Baltimore St, Jackson, TN 38301
      View Details
    • $1,750,000
      45,000 SF

      Historic Downtown Jackson Office Building

      Prime Office Redevelopment Opportunity, 45,000 SF
      118 Church St, Jackson, TN 38301
      View Details
    • $225,000
      1,768 SF

      Move-in Ready Renovated Office Space

      Recently renovated office space with functional floor plan in Jackson.
      109 Tucker St, Jackson, TN 38301
      View Details
    • $300,000
      800 SF

      Versatile Commercial Property with Warehouses

      Commercial property featuring office space and multiple warehouses for sale.
      692 Boone Ln, Jackson, TN 38301
      View Details
    • $359,900
      2,328 SF

      Jackson Office Building For Sale

      Office building for sale in Jackson, Tennessee, near South Side High School.
      1605 S Highland Ave, Jackson, TN 38301
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      4,800 SF

      Ivey Building: Midtown Jackson Office Space

      Modern Office Suites, Prime Midtown Location
      1341 Highland Ave, Jackson, TN 38301
      View Details
    • Contact for pricing
      55,796 SF

      Jackson, TN Office Space For Lease

      55,796 SF Office Building - Excellent Location
      1328 Highland Ave, Jackson, TN 38301
      View Details
    • $9 SF/Yr
      6,249 SF

      Jackson, TN Office Space for Lease

      Flexible Workspaces in Downtown Jackson
      118 Liberty St, Jackson, TN 38301
      View Details
    • Contact for pricing
      21,479 SF

      Jackson, TN Office Space for Lease

      21,479 SF Office Building - Modern Upgrades
      1321 Highland Ave, Jackson, TN 38301
      View Details
    • Contact for pricing
      1,500 SF

      Jackson, TN Medical Office Space

      Prime Medical Office: Build-to-Suit Available
      1655 Highland Ave, Jackson, TN 38301
      View Details
    • Contact for pricing
      21,479 SF

      Jackson, TN Office Space For Lease

      Large Retail/Office Space - Excellent Location
      1328 Highland Ave, Jackson, TN 38301
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    294 Summar Dr
    Jackson, TN 38301-3915
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.