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Poplar Plaza Apartments 240 Airways Blvd 10 Unit Apartment Building $696,000 ($69,600/Unit) 8.30% Cap Rate Jackson, TN 38301
INVESTMENT HIGHLIGHTS
- Downtown location on a major corridor with strong traffic counts
- Bonus adjacent lot for added value and scalability
- Ford Plant Expansion plans and Airways Blvd. Road Improvement Grant underway
- Proven multifamily footprint with updated redevelopment plans
- Walkable access to Jackson’s restaurants, shops, colleges, and employers
EXECUTIVE SUMMARY
236-240 Airways Blvd | Downtown Jackson, TN - Multifamily Redevelopment Opportunity with Expansion Potential
Positioned along one of Jackson’s primary thoroughfares, 236 Airways Blvd offers a high-visibility multifamily investment opportunity in the heart of the city’s growing downtown district. The 7,820 SF two-story brick building historically held 10 units and is now primed for renovation into an 8-unit mix of 1-bedroom and 2-bedroom apartments, including two ADA-accessible ground-floor units, or to keep as a 10-unit rental.
The sale also includes the adjacent parcel at 240 Airways Blvd, providing valuable flexibility for additional parking, outdoor amenities, or future expansion. Located within walking distance of downtown restaurants, offices, and daily conveniences, this property sits in a high-demand rental corridor ideal for long-term appreciation and steady cash flow.
Positioned along one of Jackson’s primary thoroughfares, 236 Airways Blvd offers a high-visibility multifamily investment opportunity in the heart of the city’s growing downtown district. The 7,820 SF two-story brick building historically held 10 units and is now primed for renovation into an 8-unit mix of 1-bedroom and 2-bedroom apartments, including two ADA-accessible ground-floor units, or to keep as a 10-unit rental.
The sale also includes the adjacent parcel at 240 Airways Blvd, providing valuable flexibility for additional parking, outdoor amenities, or future expansion. Located within walking distance of downtown restaurants, offices, and daily conveniences, this property sits in a high-demand rental corridor ideal for long-term appreciation and steady cash flow.
PROPERTY FACTS
| Price | $696,000 | Apartment Style | Low-Rise |
| Price Per Unit | $69,600 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 8.30% | Building Size | 7,820 SF |
| Sale Condition | Building in Shell Condition | Average Occupancy | 0% |
| Gross Rent Multiplier | 79 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1920 |
| Property Type | Multifamily | Parking Ratio | 1.27/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | B4 | ||
| Price | $696,000 |
| Price Per Unit | $69,600 |
| Sale Type | Investment |
| Cap Rate | 8.30% |
| Sale Condition | Building in Shell Condition |
| Gross Rent Multiplier | 79 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 7,820 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 1920 |
| Parking Ratio | 1.27/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | B4 |
AMENITIES
SITE AMENITIES
- Courtyard
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 10 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 077M-D-015.00 | Improvements Assessment | $95,600 |
| Land Assessment | $11,440 | Total Assessment | $107,040 |
PROPERTY TAXES
Parcel Number
077M-D-015.00
Land Assessment
$11,440
Improvements Assessment
$95,600
Total Assessment
$107,040
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Poplar Plaza Apartments | 240 Airways Blvd
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