Free Standing Office/Warehouse
For Sale
Contact for pricing
1601 HANDY AVE, Jackson, MS 39204
A fenced and paved I-1 lot with an office-equipped 2-bay warehouse for light industrial and storage needs.
Property Size5,000 SF
Lot Size0.78 Acres
Price / SF$37
Days on Market70
Property Features for 1601 HANDY AVE
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.78 Acres
Property subtype
Industrial
Zoning
I-1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
2
Building Details
Year Built
1984
Buildings
1
Stories
1
Units
1
Listing Agency:
Cook Commercial Properties
(601) 201-1360
Listed By:
Steve Cook, CCIM, SIOR · License #MS B-22913
Source:
Crexi
Added: Jun 3
Changed: Aug 8
Last Checked: Aug 8 at 7:46AM
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 Cook Commercial Properties
Investment Insights
Based on property information with market context.
The property offers a free-standing 5,000 SF office/warehouse building on a 34,000 SF fenced and paved I-1 zoned lot. The improvements include approximately 1,000 SF of office space with three private offices, a showroom/reception area, and a break room/kitchenette with restroom and shower. An additional shop restroom is also included.
The warehouse portion is configured as a two-bay shop/warehouse with 14'-16' ceiling heights. Each bay features a 12' x 10' powered overhead roll-up door, along with gas shop heaters and 4' x 4' exhaust fans, supporting practical day-to-day operations.
For buyers seeking a centrally positioned industrial facility in Jackson, the combination of office amenities and functional warehouse features can support a range of light industrial and distribution uses. With direct access to I-20 and I-55 as noted in the remarks, the site is positioned for efficient movement of people and goods while maintaining a dedicated, secured yard through the fenced and paved lot.
The warehouse portion is configured as a two-bay shop/warehouse with 14'-16' ceiling heights. Each bay features a 12' x 10' powered overhead roll-up door, along with gas shop heaters and 4' x 4' exhaust fans, supporting practical day-to-day operations.
For buyers seeking a centrally positioned industrial facility in Jackson, the combination of office amenities and functional warehouse features can support a range of light industrial and distribution uses. With direct access to I-20 and I-55 as noted in the remarks, the site is positioned for efficient movement of people and goods while maintaining a dedicated, secured yard through the fenced and paved lot.
Key Highlights
- Free‑standing 5,000 SF office/warehouse on a 34,000 SF fenced and paved I‑1 zoned lot
- 1,000 SF +/- office area with 3 private offices, showroom/reception, break room/kitchenette, and restroom with shower
- 2‑bay shop/warehouse with 14'-16' ceiling heights
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
$16,187
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
8.75%
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%
$323,740
$323.7K
Cap Rate 7%
$231,243
$231.2K
Cap Rate 9%
$179,856
$179.9K
Market Conditions
NOI Build-Up for 5,000 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
$24.6K $4.92/SF
− Vacancy
−$1.5K −$0.30/SF
EGI
$23.1K $4.62/SF
− OpEx
−$6.9K −$1.39/SF
NOI
$16.2K $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%
$323,740
Cap Rate 7%
$231,243
Cap Rate 9%
$179,856
Alternative Uses
Best Use
Office B
$667.5K
$584.1K – $778.8K
NOI $46,728 @ 7.0% cap · market cap 25.26%
Second Best
Warehouse
$387.5K
$339.1K – $452.1K
NOI $27,124 @ 7.0% cap · market cap 14.66%
Theoretical Best
Office A
$856.8K
$749.7K – $999.6K
NOI $59,976 @ 7.0% cap · market cap 32.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Balanced
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 Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - A fenced and paved I-1 lot with an office-equipped 2-bay warehouse for light industrial and storage needs.
Where is this flex space located?
The property is located at 1601 HANDY AVE Jackson, MS.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Free‑standing 5,000 SF office/warehouse on a 34,000 SF fenced and paved I‑1 zoned lot; 1,000 SF +/- office area with 3 private offices, showroom/reception, break room/kitchenette, and restroom with shower; 2‑bay shop/warehouse with 14'-16' ceiling heights
