Storefront Commercial
For Sale
$460,000
1439 University Boulevard, Jackson, MS 39204
Commercial building on University Boulevard with prior restaurant use near Jackson State University.
Property Size3,928 SF
Price / SF$117.11
Days on Market96
Property Features for 1439 University Boulevard
General Information
Standard status
Active
Size
3,928 SF
Listing Agency:
Millennium Realty Inc
(601) 720-4628
Listed By:
John Mondy · License #B21850
(601) 720-4628
Source:
Insightgroupms
Added: May 28
Changed: Aug 29
Last Checked: Aug 30 at 5:33PM
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 3,928-square-foot storefront commercial building was constructed in 1968 and previously operated as Collin's Dream Kitchen. The property offers an existing commercial structure with documented restaurant history and may accommodate restaurant, retail, or office use as described in the listing information.
Located at 1439 University Boulevard in Jackson, Mississippi, the building is positioned near Jackson State University and Downtown Jackson. Its storefront format and established commercial setting provide a defined base for evaluating a range of business concepts or reuse plans.
Located at 1439 University Boulevard in Jackson, Mississippi, the building is positioned near Jackson State University and Downtown Jackson. Its storefront format and established commercial setting provide a defined base for evaluating a range of business concepts or reuse plans.
Key Highlights
- 3,928‑square‑foot storefront commercial building
- Built in 1968
- Previously operated as Collin's Dream Kitchen
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
$38,934
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
8.46%
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%
$778,680
$778.7K
Cap Rate 7%
$556,200
$556.2K
Cap Rate 9%
$432,600
$432.6K
Market Conditions
NOI Build-Up for 3,928 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
$58.9K $15.00/SF
− Vacancy
−$3.3K −$0.84/SF
EGI
$55.6K $14.16/SF
− OpEx
−$16.7K −$4.25/SF
NOI
$38.9K $9.91/SF
Area
Jackson, MS
Vacancy
5.60%
Lease Rate
$15.00 /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%
$778,680
Cap Rate 7%
$556,200
Cap Rate 9%
$432,600
Alternative Uses
Best Use
Specialty Retail
$623.7K
$545.8K – $727.7K
NOI $43,660 @ 7.0% cap · market cap 9.49%
Second Best
Retail
$556.2K
$486.7K – $648.9K
NOI $38,934 @ 7.0% cap · market cap 8.46%
Theoretical Best
Office A
$673.1K
$589.0K – $785.3K
NOI $47,117 @ 7.0% cap · market cap 10.24%
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
Under-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
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building on University Boulevard with prior restaurant use near Jackson State University.
Where is this storefront property located?
The property is located at 1439 University Boulevard Jackson, MS.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: 3,928‑square‑foot storefront commercial building; Built in 1968; Previously operated as Collin's Dream Kitchen
