Deaderick Lofts — Sale in Jackson, TN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Jackson, TN 38301

Photos

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Investment Figures

Cap rate
6.21%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market for sale the Deaderick Lofts in Jackson, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity located near downtown Jackson. Deaderick Lofts offers investors the opportunity to acquire a multifamily asset that was fully gutted and renovated in 2007, with all new plumbing, electrical, and windows installed as part of the redevelopment. Current ownership has continued to invest in the property through ongoing unit renovations, recent flooring replacements, and more than $14,639 in capital improvements completed over the past 24 months, while major building components including the roof and HVAC systems have been replaced within the past five years. In addition to its strong existing fundamentals, the property offers meaningful expansion potential with plans and approvals already completed for up to 18 additional units, creating a unique opportunity to increase density and grow future revenue on-site. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. At no point should tenants or staff be contacted regarding the sale of the Deaderick Lofts. Investment Highlights: • The building was built in 1925, but was fully gutted and renovated in 2007 with all new plumbing, electrical, and windows. • Roof replaced approximately five years ago. • HVAC systems were replaced approximately five years ago. • Copper electrical wiring updated within the past five years, with standard commercial-grade breaker panels. • Current ownership has laid out plans for adding an additional 6 units to the main building via the basement floor.

Market Context

This multifamily in Jackson, TN is listed for sale. It is offered at an approximate 6.2% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Jackson, TN — view the full market.

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