Remodeled Flex Property With
For Sale
$265,000
1030 Greymont St, Jackson, MS 39202
Separate office and shop support a flexible work-live setup with dedicated bathrooms.
Property Size2,550 SF
Price / SF$103.92
Days on Market43
Property Features for 1030 Greymont St
General Information
Standard status
Active
Size
2,550 SF
Additional Details
Highway Access
Yes
Amenities
full bathroom
kitchen
washer/dryer connections
Building Details
Year Built
1983
Buildings
2
Listing Agency:
Nix-Tann & Associates, Inc.
(601) 214-7714
Listed By:
Mike Hoffman · License #S22757
Source:
Fiorellaavenue
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 30 at 8:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nix-Tann & Associates, Inc.
Investment Insights
Based on property information with market context.
This remodeled flex property combines a 1,162-square-foot office building with a separate 1,393-square-foot shop, creating 2,550 square feet of combined space. The shop has a roll-up door, while both buildings include a full bathroom. The office also provides a kitchen and washer-dryer connections.
The property is positioned near I-55, colleges, and hospitals, with the rear of the site adjoining the Museum Walking Trail. Its office-and-shop configuration supports work-live use and a range of flexible commercial applications.
The property is positioned near I-55, colleges, and hospitals, with the rear of the site adjoining the Museum Walking Trail. Its office-and-shop configuration supports work-live use and a range of flexible commercial applications.
Key Highlights
- 2,550 square feet of combined property size
- 1,393 sq ft shop with roll‑up door
- 1,162 sq ft office building
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
$23,831
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
8.99%
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%
$476,620
$476.6K
Cap Rate 7%
$340,443
$340.4K
Cap Rate 9%
$264,789
$264.8K
Market Conditions
NOI Build-Up for 2,550 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
$36.1K $14.16/SF
− Vacancy
−$4.3K −$1.70/SF
EGI
$31.8K $12.46/SF
− OpEx
−$7.9K −$3.12/SF
NOI
$23.8K $9.35/SF
Area
Jackson, MS
Vacancy
12.00%
Lease Rate
$14.16 /SF/Yr
Expense Ratio
25.00%
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%
$476,620
Cap Rate 7%
$340,443
Cap Rate 9%
$264,789
Alternative Uses
Best Use
Office B
$340.4K
$297.9K – $397.2K
NOI $23,831 @ 7.0% cap · market cap 8.99%
Second Best
Mixed Use
$319.7K
$279.7K – $372.9K
NOI $22,376 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$437.0K
$382.4K – $509.8K
NOI $30,588 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,795
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39202, MS
7,405
Population
4,332
Households
1.7
Avg Household Size
35
Median Age
42%
College-Educated
88%
High-School Grad
3.9 sq mi
ZIP Area
1,899
Density / Sq Mi
$41,250
Median Household Income
$32,111
Median Earnings
$876
Median Rent
$211,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 1908 Provisions — 734 Fairview St, Jackson, MS 39202
- Millsaps College Dining Services — 1701 N State St, Jackson, MS 39210
Frequently Asked Questions
What type of property is this?
Flex space - Separate office and shop support a flexible work-live setup with dedicated bathrooms.
Where is this flex space located?
The property is located at 1030 Greymont St Jackson, MS.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 2,550 square feet of combined property size; 1,393 sq ft shop with roll‑up door; 1,162 sq ft office building
