Mixed-Use Building with
New
For Sale
$230,000
1011 E Peace Street, Canton, MS 39046
Commercial Sale, Canton, MS
Property Size2,837 SF
Lot Size0.17 Acres
Price / SF$81.07
Days on Market1
Property Features for 1011 E Peace Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C2
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
Lot features
Rectangular Lot, Rectangular Lot
Standard status
Active
APN
093d-20a-307-00-00
Size
2,837 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 5 & 6 MARIS SUBD BLK A (PARENT PARCEL #93D-20A-308)
Tax Annual Amount
829
Legal Description
LOTS 5 & 6 MARIS SUBD BLK A (PARENT PARCEL #93D-20A-308)
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1959
Roof type
Metal
Listing Agency:
Tom Smith Land & Homes
(601) 898-2772
Listed By:
Chance T Persac · License #S61513
(601) 955-4587
Added: Sep 24
Last Checked: Sep 24 at 7:06PM
MLS# 4163485
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.
Investment Insights
Based on property information with market context.
This 2,837-square-foot mixed-use property has a 1,963-square-foot main level with a full bathroom and a separate 874-square-foot apartment upstairs. The renovated apartment includes two bedrooms, one bathroom, and a full kitchen. Metal roofing, public water, and public sewer serve the property; it was built in 1959. Cast signatures remain on the walls from the building’s use as a café set during filming of A Time to Kill.
The property is on E Peace Street in downtown Canton, near Canton Square, restaurants, shops, and other local businesses. The main floor has a flexible commercial layout, while the upper apartment provides a distinct residential component.
The property is on E Peace Street in downtown Canton, near Canton Square, restaurants, shops, and other local businesses. The main floor has a flexible commercial layout, while the upper apartment provides a distinct residential component.
Key Highlights
- 2,837 square feet total, including a 1,963‑square‑foot main level and an 874‑square‑foot upstairs apartment
- Renovated upstairs apartment with 2 bedrooms, 1 bathroom, and a full kitchen
- C‑2 zoning and a 0.17‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,150
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$383,000
$383.0K
Cap Rate 7%
$273,571
$273.6K
Cap Rate 9%
$212,778
$212.8K
Market Conditions
NOI Build-Up for 2,837 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.0K $12.00/SF
− Vacancy
−$3.4K −$1.20/SF
EGI
$30.6K $10.80/SF
− OpEx
−$11.5K −$4.05/SF
NOI
$19.1K $6.75/SF
Area
Madison County, MS
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$383,000
Cap Rate 7%
$273,571
Cap Rate 9%
$212,778
Alternative Uses
Best Use
Retail
$394.5K
$345.2K – $460.2K
NOI $27,614 @ 7.0% cap · market cap 12.01%
Second Best
Mixed Use
$273.6K
$239.4K – $319.2K
NOI $19,150 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$617.6K
$540.4K – $720.5K
NOI $43,230 @ 7.0% cap · market cap 18.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
68k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Groceries 25%
Dining 23%
Home Improvements & Furnishings 1%
Wendy's
Dining
13,399 visits/mo
0.3 miles
Circle K
Shops & Services
13,202 visits/mo
0.2 miles
Dollar Tree
Shops & Services
10,613 visits/mo
0.2 miles
Dollar General Market
Groceries
9,140 visits/mo
0.3 miles
Save-A-Lot
Groceries
7,698 visits/mo
0.1 miles
Demographics for 39046, MS
27,866
Population
12,909
Households
2.2
Avg Household Size
37
Median Age
29%
College-Educated
83%
High-School Grad
311.8 sq mi
ZIP Area
89
Density / Sq Mi
$48,288
Median Household Income
$33,879
Median Earnings
$879
Median Rent
$210,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A renovated two-bedroom apartment sits above a flexible commercial floor in a C-2-zoned property.
Where is this mixed-use property located?
The property is located at 1011 E Peace Street Canton, MS.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 2,837 square feet total, including a 1,963‑square‑foot main level and an 874‑square‑foot upstairs apartment; Renovated upstairs apartment with 2 bedrooms, 1 bathroom, and a full kitchen; C‑2 zoning and a 0.17‑acre lot
