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    504 Chrisman Ave Cleveland, MS 38732

    Sponsored
    For Sale
    $950,000

    Mississippi Medicaid Lease, High ROI

    Property size:
    15,093 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional 15,093+/- square foot office building in Cleveland, MS, presents a compelling investment opportunity. Situated on a 0.64-acre lot at 504 N Chrisman Avenue in the downtown area, the property boasts a newly signed five-year lease (August 1, 2024 – July 31, 2029) with the Mississippi Division of Medicaid. A significant portion (8,000+ sq ft) underwent renovations in 2012 to accommodate the tenant's specific needs, ensuring a modern and functional workspace. The remaining space, currently used for storage, offers significant potential for additional lease income through renovation and lease to a secondary tenant. The property features a recently restriped, expansive 18,000+/- square foot paved parking lot, providing ample parking for tenants and visitors. This low-risk, low-management investment is projected to yield a capitalization rate of approximately 9.2%, making it an attractive addition to any commercial real estate portfolio. The property's strong tenant and favorable lease terms contribute to its exceptional investment potential. The location in downtown Cleveland offers convenient access to local amenities and services. This is a rare opportunity to acquire a stable, income-producing asset with significant upside potential. The building's size, location, and existing lease make it an ideal investment for those seeking a secure and profitable venture.

    Property Features for 504 Chrisman Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    15,093 SF
    Lot Size
    27,878 SF

    Building Details

    Year Built
    1974
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Properties & Spaces

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Bolivar
    State
    Mississippi
    Longitude
    -90.71777
    Latitude
    33.75092

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    FAQs

    What type of property is this?
    Office Property / Space - Mississippi Medicaid Lease, High ROI
    Where is this office property / space located?
    The property is located at 504 Chrisman Ave Cleveland, MS.
    What is the asking price?
    The asking price for this property is $950,000.
    (662) 719-7167
    Request Owner's contact information
    504 Chrisman Ave Cleveland, MS 38732
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    Cleveland, MS 38732
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    Realmo Value Estimation

    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.

    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.

    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
    504 Chrisman Ave Cleveland, MS 38732
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