805 ParkwayJackson, TN 38305

Property Details for 805 Parkway

Year built

1993

Lot size

2.98 AC

Property size (Sq ft)

40,576 SF

Property type

Healthcare properties

Property subtype

Other office properties

Description

Exceptional investment opportunity: a 40,576 square foot medical office building in Jackson, Tennessee, currently 100% occupied by West Tennessee Healthcare, Inc. under a net lease with a corporate guarantee. The lease, commencing September 1, 2022, has a remaining term of approximately 7.8 years, with two 5-year renewal options. The building, constructed in 1993 and situated on a 2.98-acre lot at 805 North Parkway, Jackson, TN 38305, boasts a strong 7.00% cap rate and a Net Operating Income (NOI) of $717,659. The asking price is $10,252,280, translating to $252.67 per square foot. Annual rent increases of 2% are built into the lease, providing an inflation hedge. Landlord responsibilities are limited to roof and structure maintenance under the double net (NN) lease terms. West Tennessee Healthcare, Inc., a leading regional healthcare provider with a robust network of facilities, ensures a stable and reliable tenant with an A-credit rating. The property's healthcare focus provides inherent market resilience, making it a compelling investment in a stable sector. This offering presents a secure, long-term income stream with significant upside potential.

Location Insight

City

Jackson

County

Madison

State

Tennessee

Latitude

35.6521

Longitude

-88.8341

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