Single-Story Office
For Sale
$315,000
4515 Office Park Drive, Jackson, MS 39206
Single-story office building with two restrooms and a foyer, offering parking and subdivision potential into three suites.
Property Size2,588 SF
Price / SF$121.72
Days on Market397
Property Features for 4515 Office Park Drive
General Information
Standard status
Active
Size
2,588 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$3,742
Amenities
3
80ft x 125ft
Building Details
Year Built
1956
Stories
1
Listing Agency:
Real Broker, LLC.
(601) 214-4906
Listed By:
Will Miller · License #S40834
(601) 214-4906
Source:
Xome
Added: Jul 25, 2025
Changed: Aug 23
Last Checked: Aug 24 at 5:27AM
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 Real Broker, LLC.
Investment Insights
Based on property information with market context.
This single-story office building was designed and built in 1958 by architect John W. Staats and has been occupied by two owners. The property contains approximately 2,588 square feet and includes two restrooms and a welcoming entrance foyer. The building was previously occupied by an architect, and most recently by a chiropractor, with the business currently retiring. The property is being sold as-is, with no warranties from the seller.
The offering includes fourteen parking spaces. The floor plan can be configured into three individual office suites, as illustrated in the attached documents.
Interested parties should review the photos for condition and layout details, and consult the attached configuration materials regarding the proposed suite division. The property is for sale as an as-is transaction.
The offering includes fourteen parking spaces. The floor plan can be configured into three individual office suites, as illustrated in the attached documents.
Interested parties should review the photos for condition and layout details, and consult the attached configuration materials regarding the proposed suite division. The property is for sale as an as-is transaction.
Key Highlights
- Single‑story office building with approx. 2,588 SF designed, built, and occupied in 1958
- Subdivision potential to configure the space into three individual office suites (per attached documents)
- Fourteen parking spaces for tenants and visitors
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
$25,714
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
8.16%
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%
$514,280
$514.3K
Cap Rate 7%
$367,343
$367.3K
Cap Rate 9%
$285,711
$285.7K
Market Conditions
NOI Build-Up for 2,588 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
$46.6K $18.00/SF
− Vacancy
−$3.7K −$1.44/SF
EGI
$42.9K $16.56/SF
− OpEx
−$17.1K −$6.62/SF
NOI
$25.7K $9.94/SF
Area
Jackson, MS
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
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%
$514,280
Cap Rate 7%
$367,343
Cap Rate 9%
$285,711
Alternative Uses
Best Use
Healthcare Medical
$367.3K
$321.4K – $428.6K
NOI $25,714 @ 7.0% cap · market cap 8.16%
Second Best
Office B
$345.5K
$302.3K – $403.1K
NOI $24,186 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$443.5K
$388.1K – $517.4K
NOI $31,044 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 39206, MS
22,553
Population
11,237
Households
2
Avg Household Size
38
Median Age
28%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
2,563
Density / Sq Mi
$41,611
Median Household Income
$32,410
Median Earnings
$1,084
Median Rent
$117,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-story office building with two restrooms and a foyer, offering parking and subdivision potential into three suites.
Where is this office building located?
The property is located at 4515 Office Park Drive Jackson, MS.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Single‑story office building with approx. 2,588 SF designed, built, and occupied in 1958; Subdivision potential to configure the space into three individual office suites (per attached documents); Fourteen parking spaces for tenants and visitors
