Corner Retail
For Sale
Contact for pricing
1600 University Boulevard, Jackson, MS 39204
Retail property at a prominent intersection with access from two major thoroughfares.
Property Size29,000 SF
Lot Size4.50 Acres
Price / SF$206.90
Days on Market117
Property Features for 1600 University Boulevard
General Information
Standard status
Active
Size
29,000 SF
Lot size
4.50 Acres
Property subtype
Retail
Occupancy
100%
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$6,000,000
Building Details
Tenancy
Single
Listing Agency:
Walter Michel Agency
(601) 352-0757
Listed By:
John Young · License #MS 1116
Source:
Crexi
Added: May 7
Changed: Aug 28
Last Checked: Aug 29 at 11:51PM
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 Walter Michel Agency
Investment Insights
Based on property information with market context.
The property includes an approximately 29,000-square-foot retail facility on approximately 4.5 acres. Its corner position at Highway 80 and Terry Road provides exposure to two major thoroughfares, with building area and site capacity suited to a substantial commercial operation.
The property is currently occupied, and the existing tenant is expected to vacate upon a sale or new lease. The asset is available for sale or lease and may accommodate retail, showroom, commercial, or redevelopment uses as supported by the existing property configuration.
The property is currently occupied, and the existing tenant is expected to vacate upon a sale or new lease. The asset is available for sale or lease and may accommodate retail, showroom, commercial, or redevelopment uses as supported by the existing property configuration.
Key Highlights
- Approximately 29,000 SF of retail building area
- Approximately 4.5‑acre site
- Corner location at Highway 80 and Terry Road
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
$287,448
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
4.79%
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%
$5,748,960
$5.7M
Cap Rate 7%
$4,106,400
$4.1M
Cap Rate 9%
$3,193,867
$3.2M
Market Conditions
NOI Build-Up for 29,000 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
$435.0K $15.00/SF
− Vacancy
−$24.4K −$0.84/SF
EGI
$410.6K $14.16/SF
− OpEx
−$123.2K −$4.25/SF
NOI
$287.4K $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%
$5,748,960
Cap Rate 7%
$4,106,400
Cap Rate 9%
$3,193,867
Alternative Uses
Best Use
Retail
$4.11M
$3.59M – $4.79M
NOI $287,448 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.97M
$4.35M – $5.80M
NOI $347,861 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
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.
Frequently Asked Questions
What type of property is this?
Retail space - Retail property at a prominent intersection with access from two major thoroughfares.
Where is this retail space located?
The property is located at 1600 University Boulevard Jackson, MS.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Approximately 29,000 SF of retail building area; Approximately 4.5‑acre site; Corner location at Highway 80 and Terry Road
