Office-Warehouse Flex
For Sale
Contact for pricing
124 E South St, Jackson, MS 39201
Climate-controlled office space and a warehouse with rollup and drive-in access, plus adjoining vacant lot for parking.
Property Size14,000 SF
Price / SF$89.29
Days on Market209
Property Features for 124 E South St
General Information
Standard status
Active
Size
14,000 SF
Property subtype
OFFICE
Lease Type
Modified Gross
Properties For Sale
at 124 E South St Contact us- Size
- 14,000 SF
- Type
- OFFICE
- Lease Type
- MODIFIED_GROSS
- Availability
- AVAILABLE
- Sublease
- No
14,000 SF Office/Warehouse (Climate-Controlled)
7,000 SF Climate Controlled office area including large open meeting area with
adjoining...
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Listing Agency:
Cook Commercial Properties LLC
Listed By:
Bill Cook, III
(601) 981-1500
Source:
Moodyscre
Added: Feb 10
Changed: Aug 8
Last Checked: Jul 21 at 9:56PM
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 Cook Commercial Properties LLC
Investment Insights
Based on property information with market context.
This flex-style property includes a climate-controlled office area and a separate warehouse component. The office space features a large open meeting area and an adjoining, fully equipped kitchen. The warehouse is approximately 7,000 square feet and offers rollup and drive-in access.
An adjoining vacant lot provides room for additional parking. The property is located one block west of a new federal building and the Central Fire Station.
The offering notes the building is under lease until July 1, 2023.
An adjoining vacant lot provides room for additional parking. The property is located one block west of a new federal building and the Central Fire Station.
The offering notes the building is under lease until July 1, 2023.
Key Highlights
- 7,000 SF climate‑controlled office space with a large open meeting area and adjoining fully equipped kitchen
- 7,000 SF warehouse with roll‑up doors and drive‑in access
- Vacant lot adjoining the building for additional parking
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
$75,948
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
6.08%
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%
$1,518,960
$1.5M
Cap Rate 7%
$1,084,971
$1.1M
Cap Rate 9%
$843,867
$843.9K
Market Conditions
NOI Build-Up for 14,000 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
$92.4K $6.60/SF
− Vacancy
−$3.0K −$0.22/SF
EGI
$89.4K $6.38/SF
− OpEx
−$13.4K −$0.96/SF
NOI
$75.9K $5.42/SF
Area
Jackson, MS
Vacancy
3.30%
Lease Rate
$6.60 /SF/Yr
Expense Ratio
15.00%
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%
$1,518,960
Cap Rate 7%
$1,084,971
Cap Rate 9%
$843,867
Alternative Uses
Best Use
Office B
$1.87M
$1.64M – $2.18M
NOI $130,838 @ 7.0% cap · market cap 10.47%
Second Best
Warehouse
$1.08M
$949.4K – $1.27M
NOI $75,948 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,933 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,242
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 39201, MS
574
Population
749
Households
0.8
Avg Household Size
40
Median Age
75%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
273
Density / Sq Mi
$77,946
Median Household Income
$77,838
Median Earnings
$1,341
Median Rent
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled office space and a warehouse with rollup and drive-in access, plus adjoining vacant lot for parking.
Where is this flex space located?
The property is located at 124 E South St Jackson, MS.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 7,000 SF climate‑controlled office space with a large open meeting area and adjoining fully equipped kitchen; 7,000 SF warehouse with roll‑up doors and drive‑in access; Vacant lot adjoining the building for additional parking
