Renovated C-2 Office
For Sale
$675,000
2909 Terry Rd, Jackson, MS 39212
C-2-zoned office property with full occupancy and convenient access to major highways.
Property Size7,188 SF
Price / SF$103.97
Days on Market194
Property Features for 2909 Terry Rd
General Information
Standard status
Active
Size
7,188 SF
Property subtype
Street Retail
Zoning
C-2
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Building Size
7,188 SF
Year Built
1999
Year Renovated
2025
Properties For Sale
at 2909 Terry Rd Contact us- Size
- 1,692 SF
- Lease Type
- Modified Gross
B
Listing Agency:
Speed Commercial Real Estate
(601) 987-0202
Listed By:
Jeff Speed · License #B16810
(601) 987-0202
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 6:25PM
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 Speed Commercial Real Estate
Investment Insights
Based on property information with market context.
This office building at 2909 Terry Rd was constructed in 1999 and renovated in 2025. The property carries C-2 zoning and is reported at 100% occupancy, providing an established commercial setting for office use.
The Jackson location offers access to major highways and is near the Mississippi State Capitol, Walker's Drive-In, and the Fondren Arts District. These surrounding destinations add established civic, dining, and cultural context to the property’s setting.
The Jackson location offers access to major highways and is near the Mississippi State Capitol, Walker's Drive-In, and the Fondren Arts District. These surrounding destinations add established civic, dining, and cultural context to the property’s setting.
Key Highlights
- 6,492 SF office building
- 100% occupancy
- Constructed in 1999 and renovated in 2025
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
$60,672
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
8.99%
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%
$1,213,440
$1.2M
Cap Rate 7%
$866,743
$866.7K
Cap Rate 9%
$674,133
$674.1K
Market Conditions
NOI Build-Up for 6,492 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
$91.9K $14.16/SF
− Vacancy
−$11.0K −$1.70/SF
EGI
$80.9K $12.46/SF
− OpEx
−$20.2K −$3.12/SF
NOI
$60.7K $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%
$1,213,440
Cap Rate 7%
$866,743
Cap Rate 9%
$674,133
Alternative Uses
Best Use
Office B
$866.7K
$758.4K – $1.01M
NOI $60,672 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$973.4K – $1.30M
NOI $77,873 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Explore this area
Business Placement
Demographics for 39212, MS
29,087
Population
12,738
Households
2.3
Avg Household Size
36
Median Age
22%
College-Educated
89%
High-School Grad
29.6 sq mi
ZIP Area
983
Density / Sq Mi
$53,300
Median Household Income
$31,604
Median Earnings
$1,128
Median Rent
$105,500
Median Home Value
Market
Vacancy Rate% for Office 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?
Office building - C-2-zoned office property with full occupancy and convenient access to major highways.
Where is this office building located?
The property is located at 2909 Terry Rd Jackson, MS.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 6,492 SF office building; 100% occupancy; Constructed in 1999 and renovated in 2025
