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    Downtown Jackson Office/Creative Space Title is generated by Realmo AI

    109 N State Street lot 11, Jackson, MS 39201

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    Claim this Listing
    For Lease
    $2,389/Mo $14 SF/Yr (calc)

    COMMERCIAL - Jackson, MS

    Type:Office
    Property size:
    2,048 SF
    Lot size:
    0.05 Acres
    Added:
    Dec 2, 2024
    Days on Market:
    551
    Last Refresh:
    Jun 6 at 11:06 am

    Property Features for 109 N State Street lot 11

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    APN
    0033-0006-000
    Size
    2,048 SF
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    23 1/2 FT W/S N STATE ST X 110 FT E & W N OF SPENGLER IN LOT 2 SQ 1 N J
    Tax Annual Amount
    6024

    Building Details

    Year built
    1920

    We can help!

    Listing Contact
    Alicen Blanchard
    Alicen Blanchard

    Listing agent Alicen Blanchard License #B24006

    Listing office Overby, Inc. 800 Woodlands Pkwy Ste 206, Jackson, MS

    Listing date Dec 2, 2024

    MLS# 4098009

    Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Location in the sought‑after Spengler's Corner Historic District, downtown Jackson with easy access to everything.
    • Versatile Space: Open layout suitable for professional offices, artist studios, or co‑working spaces, with customization potential.
    • Historic Charm: Located in a building with rich history and architectural character.
    • Ample Natural Light fills the open layout.
    • Dedicated Parking: Includes one dedicated parking space.
    • Positioned in a dynamic central Revitalization Area as downtown Jackson continues to grow.

    Overview

    Located in downtown Jackson, Mississippi, this property offers a unique opportunity within the Spengler's Corner Historic District. The second-floor location offers a versatile office, loft, and creative space that can be adapted to a wide range of uses, from professional offices to artist studios or co-working spaces. Featuring an open layout with natural light and historic charm, this area is suited for tenants seeking an inspiring and functional environment. The 2,048 square-foot space is ready for lease and can be tailored to meet the needs of a variety of businesses. Situated in the Spengler's Corner Historic District, this property is in the center of downtown Jackson's revitalization efforts, with access to major highways, public transportation, and a mix of local dining, retail, and cultural attractions. The second-floor space offers potential for customization, allowing you to capitalize on the growing demand for office and creative workspaces in downtown Jackson. One dedicated parking space in the parking lot behind the building is exclusively for tenant use. The city of Jackson offers monthly parking permits for use in any metered spot for approximately $65 per month. With its history and architectural character, this property is well-positioned as a dynamic central location as downtown Jackson continues to grow.
    Property Profile Location Intelligence

    Current Use by Public Records

    OffBeat (Bike/Boat/Book/etc) Store Printing Unlimited Inc Marketing & Advertising Stanfield Percy S Law Firm Wadehra Medical Writing, ... Publishing House

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Rankin
    State
    Mississippi
    Longitude
    -90.180587
    Latitude
    32.299388

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    FAQs

    What type of property is this?
    Creative space - Versatile office/creative space in Jackson's historic Spengler's Corner District.
    Where is this creative space located?
    The property is located at 109 N State Street lot 11 Jackson, MS.
    What is the lease rate?
    The lease rate is $2,389 /Mo.
    What are key features of this property?
    This property features: Prime Location in the sought‑after Spengler's Corner Historic District, downtown Jackson with easy access to everything.; Versatile Space: Open layout suitable for professional offices, artist studios, or co‑working spaces, with customization potential.; Historic Charm: Located in a building with rich history and architectural character.
    (601) 260-0699
    We can help!
    Listing Contact
    Alicen Blanchard
    Alicen Blanchard
    Real Estate License ID: B24006
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    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
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