Auto Shop with Car Lot
For Sale
$40,000
1241 University Boulevard, Jackson, MS 39204
Property includes a car lot with three bays and a dedicated office space.
Property Size828 SF
Price / SF$48.31
Days on Market275
Property Features for 1241 University Boulevard
General Information
Standard status
Active
Size
828 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$2,386
Amenities
3
Building Details
Year Built
1958
Listing Agency:
Millennium Realty Inc
(769) 257-7780
Listed By:
John Mondy · License #B21850
(601) 720-4628
Source:
Xome
Added: Dec 5, 2025
Changed: Sep 1
Last Checked: Sep 5 at 3:37AM
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 Millennium Realty Inc
Investment Insights
Based on property information with market context.
This automotive property combines a car lot with three service bays and one office. The layout is designed for a small-scale repair operation, with the bays providing direct workflow space and the office supporting on-site business needs.
The property is located at 1241 University Boulevard in Jackson, MS 39204. At 828 square feet, it offers a compact footprint suitable for an owner-operator or small service business looking to operate from a dedicated facility.
Additional details such as specific bay dimensions, overhead door configuration, and zoning or permitted uses are not provided in the available information, so buyers should verify requirements and conditions during due diligence.
The property is located at 1241 University Boulevard in Jackson, MS 39204. At 828 square feet, it offers a compact footprint suitable for an owner-operator or small service business looking to operate from a dedicated facility.
Additional details such as specific bay dimensions, overhead door configuration, and zoning or permitted uses are not provided in the available information, so buyers should verify requirements and conditions during due diligence.
Key Highlights
- Car lot includes 3 bays and a dedicated office space
- Guest facilities listed as 3
- Built in 1958
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
$2,681
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
6.70%
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%
$53,620
$53.6K
Cap Rate 7%
$38,300
$38.3K
Cap Rate 9%
$29,789
$29.8K
Market Conditions
NOI Build-Up for 828 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
$4.1K $4.92/SF
− Vacancy
−$244 −$0.30/SF
EGI
$3.8K $4.62/SF
− OpEx
−$1.1K −$1.39/SF
NOI
$2.7K $3.24/SF
Area
Jackson, MS
Vacancy
6.00%
Lease Rate
$4.92 /SF/Yr
Expense Ratio
30.00%
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%
$53,620
Cap Rate 7%
$38,300
Cap Rate 9%
$29,789
Alternative Uses
Best Use
Retail
$117.2K
$102.6K – $136.8K
NOI $8,207 @ 7.0% cap · market cap 20.52%
Second Best
Industrial
$38.3K
$33.5K – $44.7K
NOI $2,681 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$141.9K
$124.2K – $165.5K
NOI $9,932 @ 7.0% cap · market cap 24.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39204, MS
15,433
Population
7,613
Households
2
Avg Household Size
33
Median Age
16%
College-Educated
78%
High-School Grad
9.4 sq mi
ZIP Area
1,642
Density / Sq Mi
$31,667
Median Household Income
$23,862
Median Earnings
$890
Median Rent
$68,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Property includes a car lot with three bays and a dedicated office space.
Where is this auto shop located?
The property is located at 1241 University Boulevard Jackson, MS.
What is the asking price?
The asking price for this property is $40,000.
What are key features of this property?
This property features: Car lot includes 3 bays and a dedicated office space; Guest facilities listed as 3; Built in 1958
