118 Church StJackson, TN 38301

Property Details for 118 Church St

Year built

1905

Lot size

100.50 AC

Property size (Sq ft)

45,000 SF

Zone code

B3

Property type

Office properties

APN

057078P P 01400

APU

057078PP01400

Description

This historic five-story office building, located at 118 N Church St in Jackson, Tennessee, presents a unique redevelopment opportunity. Boasting 45,000 total square feet and 36,000 net rentable square feet, the property currently has four tenants with 50% occupancy. Built in 1905, this multi-tenant building features two elevators, upgraded electrical and HVAC systems (with individual mechanical rooms per floor), and multiple bathrooms on each floor. The building is zoned B-3 and is situated in a central business district opportunity zone, offering convenient access to the West Tennessee Farmers Market, The Amp, The NED, and numerous restaurants and retail establishments. The first floor, currently partially occupied, presents potential for retail redevelopment, while the second and third floors are ready for interior updates and offer significant growth potential for office space or loft apartments. The fourth floor is also partially occupied. Public parking is available. The asking price is $1,750,000, with a gross lease type and month-to-month lease options. Deed restrictions apply. This is an exceptional investment opportunity in a thriving downtown area.

• CAP approach

  CAP return

  Valuation

  6%

  $10,286,044

  6.5%

  $9,494,810

  7%

  $8,816,609

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,508,200

  Geo Method

  $3,508,200

• Alternative Use

  Use

  Valuation

  Residential

  $11,773,564

  Hospitality

  $10,784,521

  Educational

  $8,972,595

  Medical

  $9,281,176

  Retail

  $13,957,370

Location Insight

City

Jackson

County

Madison

State

Tennessee

Latitude

35.6148

Longitude

-88.8169

CBSA code

27180

CBSA name

JACKSON, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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