Two-Story Building with Flex
For Sale
Contact for pricing
1919 Lakeland Dr, Jackson, MS
Two-story building with flex space available for lease or sale.
Property Size16,434 SF
Lot Size1.20 Acres
Price / SF$167.34
Days on Market1012
Property Features for 1919 Lakeland Dr
General Information
Standard status
Active
Size
16,434 SF
Lot size
1.20 Acres
Property subtype
OFFICE
Listing Agency:
CBRE | Jackson
(601) 899-2801
Listed By:
Grant Ridgway · License #19145
Source:
Moodyscre
Added: Oct 31, 2023
Changed: Jul 6
Last Checked: Jul 22 at 3:39AM
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 CBRE | Jackson
Investment Insights
Based on property information with market context.
This well-maintained two-story building offers space suitable for various business needs. It presents an opportunity for an investor or owner-occupant. Vacancies range from 2,106 to 16,434 square feet. The first floor includes approximately 4,000 square feet of flex space, featuring an exterior roll-up door and showers. The property is available for sale at $2,750,000 or for lease at a rate of $18-20 per square foot on a modified gross basis. The building provides ample space for various business operations.
Key Highlights
- Opportunity for investor/owner occupant.
- Vacancies ranging from 2,106 - 16,434 SF.
- Competitive investment opportunity with sale price of $2,750,000 or lease rate of $18‑20 MG.
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
$153,586
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
5.58%
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%
$3,071,720
$3.1M
Cap Rate 7%
$2,194,086
$2.2M
Cap Rate 9%
$1,706,511
$1.7M
Market Conditions
NOI Build-Up for 16,434 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
$232.7K $14.16/SF
− Vacancy
−$27.9K −$1.70/SF
EGI
$204.8K $12.46/SF
− OpEx
−$51.2K −$3.12/SF
NOI
$153.6K $9.35/SF
Area
Jackson, MS
Vacancy
12.00%
Lease Rate
$14.16 /SF/Yr
Expense Ratio
25.00%
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%
$3,071,720
Cap Rate 7%
$2,194,086
Cap Rate 9%
$1,706,511
Alternative Uses
Best Use
Office B
$2.19M
$1.92M – $2.56M
NOI $153,586 @ 7.0% cap · market cap 5.58%
Second Best
Industrial
$760.0K
$665.0K – $886.7K
NOI $53,203 @ 7.0% cap · market cap 1.93%
Theoretical Best
Office A
$2.82M
$2.46M – $3.29M
NOI $197,129 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,111
Businesses Nearby
Explore this area
Business Placement
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 - Two-story building with flex space available for lease or sale.
Where is this office building located?
The property is located at 1919 Lakeland Dr Jackson, MS.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Opportunity for investor/owner occupant.; Vacancies ranging from **2,106 - 16,434 SF.**; Competitive investment opportunity with sale price of $2,750,000 or lease rate of $18‑20 MG.
