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Building Details

Year Built 1983

Buildings 2

Listing Agency: Nix-Tann & Associates, Inc.

Listed By: Mike Hoffman · License #S22757 Show Phone

Source: Fiorellaavenue

Added: Jul 20 Changed: Oct 2 Last Checked: Oct 7 at 3:07PM

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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.

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 / Yr

$22,376

Cap Rate

8.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$447,520 $447.5K

Cap Rate 7%

$319,657 $319.7K

Cap Rate 9%

$248,622 $248.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,550 SF

Gross rent

$39.8K $15.60/SF

− Vacancy

−$4.0K −$1.56/SF

EGI

$35.8K $14.04/SF

− OpEx

−$13.4K −$5.27/SF

NOI

$22.4K $8.77/SF

Area

Jackson, MS

Vacancy

10.00%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$447,520

Cap Rate 7%

$319,657

Cap Rate 9%

$248,622

Alternative Uses

Best Use

Office B

$340.4K

$297.9K – $397.2K (±1% cap)

NOI $23,831 @ 7.0% cap · market cap 9.35%

Second Best

Mixed Use

$319.7K

$279.7K – $372.9K (±1% cap)

NOI $22,376 @ 7.0% cap · market cap 8.77%

Theoretical Best

Office A

$437.0K

$382.4K – $509.8K (±1% cap)

NOI $30,588 @ 7.0% cap · market cap 12.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Electrical Service Dental Office Kitchen & Bath Showroom Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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 $255,000.

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