4-Unit Multifamily
For Sale
$400,000
232 Lorenz Blvd, Jackson, MS 39216
All four units are occupied and leased in Jackson’s Fondren neighborhood.
Property Size4,000 SF
Price / SF$100
Days on Market21
Property Features for 232 Lorenz Blvd
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
4
Listing Agency:
Wright & Company
Listed By:
Judson Wright
(601) 953-7903
Source:
Propertiesnorthms
Added: Sep 15
Changed: Oct 1
Last Checked: Oct 4 at 10:04AM
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 Wright & Company
Investment Insights
Based on property information with market context.
This four-unit multifamily property at 232 Lorenz Blvd in Jackson is fully occupied, with all units leased. It is located in the Fondren neighborhood.
Key Highlights
- Four‑unit multifamily property
- All units currently occupied and leased
- Located at 232 Lorenz Blvd in Jackson’s Fondren neighborhood
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
$26,361
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
6.59%
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%
$527,220
$527.2K
Cap Rate 7%
$376,586
$376.6K
Cap Rate 9%
$292,900
$292.9K
Market Conditions
NOI Build-Up for 4,000 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
$40.8K $10.20/SF
− Vacancy
−$3.1K −$0.79/SF
EGI
$37.7K $9.41/SF
− OpEx
−$11.3K −$2.82/SF
NOI
$26.4K $6.59/SF
Area
Jackson, MS
Vacancy
7.70%
Lease Rate
$10.20 /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%
$527,220
Cap Rate 7%
$376,586
Cap Rate 9%
$292,900
Alternative Uses
Best Use
Multifamily LT 5
$376.6K
$329.5K – $439.4K
NOI $26,361 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$351.5K
$307.6K – $410.1K
NOI $24,605 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$685.4K
$599.8K – $799.7K
NOI $47,981 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,488
Businesses Nearby
Explore this area
Business Placement
Demographics for 39216, MS
4,061
Population
2,073
Households
2
Avg Household Size
36
Median Age
64%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
1,310
Density / Sq Mi
$43,315
Median Household Income
$33,839
Median Earnings
$1,128
Median Rent
$249,600
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Quadplex - All four units are occupied and leased in Jackson’s Fondren neighborhood.
Where is this quadplex located?
The property is located at 232 Lorenz Blvd Jackson, MS.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four‑unit multifamily property; All units currently occupied and leased; Located at 232 Lorenz Blvd in Jackson’s Fondren neighborhood
