Building Details

Year Built 1968

Listing Agency: Millennium Realty Inc

Listed By: John Mondy · License #B21850 Show Phone

Source: Fiorellaavenue

Added: May 28 Changed: Oct 8 Last Checked: Oct 7 at 3:34PM

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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

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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.

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 / Yr

$38,934

Cap Rate

8.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$778,680 $778.7K

Cap Rate 7%

$556,200 $556.2K

Cap Rate 9%

$432,600 $432.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,928 SF

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 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 (±1% cap)

NOI $43,660 @ 7.0% cap · market cap 9.49%

Second Best

Retail

$556.2K

$486.7K – $648.9K (±1% cap)

NOI $38,934 @ 7.0% cap · market cap 8.46%

Theoretical Best

Office A

$673.1K

$589.0K – $785.3K (±1% cap)

NOI $47,117 @ 7.0% cap · market cap 10.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Dental Office Parking Lot & Garage Pharmacy Bakery Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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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