Mixed-Use Property 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
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 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
Asphalt
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 6:06PM
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 building has 1,963 square feet on the main level and an 874-square-foot apartment upstairs. The commercial floor includes a full bathroom and a flexible layout. The renovated apartment has two bedrooms, one bathroom, and a full kitchen. Cast signatures from the filming of A Time to Kill remain on the walls, including signatures attributed to Matthew McConaughey, Sandra Bullock, Kevin Spacey, and Kiefer Sutherland.
The property is in downtown Canton, minutes from Canton Square, restaurants, shops, and other local businesses. It occupies a 0.17-acre lot and is zoned C-2. The building dates to 1959 and has public water, public sewer, and an asphalt roof.
The property is in downtown Canton, minutes from Canton Square, restaurants, shops, and other local businesses. It occupies a 0.17-acre lot and is zoned C-2. The building dates to 1959 and has public water, public sewer, and an asphalt roof.
Key Highlights
- 2,837+/- sq. ft. mixed‑use property on a 0.17‑acre lot
- Main level offers 1,963+/- sq. ft. and a full bathroom
- Renovated 874+/- sq. ft. upper apartment with 2 bedrooms, 1 bathroom, and a full kitchen
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 upper-level apartment sits above adaptable commercial space with a full bathroom on the main floor.
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+/- sq. ft. mixed‑use property on a 0.17‑acre lot; Main level offers 1,963+/- sq. ft. and a full bathroom; Renovated 874+/- sq. ft. upper apartment with 2 bedrooms, 1 bathroom, and a full kitchen
