Building Details

Buildings 4

Listing Agency: Insight Group LLC W***@gmail.com Show Phone

Listed By: Jill Acey-Callender · License #S23563 Show Phone

Source: Exprealty

Added: Feb 26 Changed: Oct 14 Last Checked: Oct 23 at 1:20PM

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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 Insight Group LLC

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Investment Insights

Based on property information with market context.

This former full-service restaurant property includes a fully equipped primary kitchen and a second building with its own kitchen and built-in bar. The property also includes two large equipment buildings, providing additional enclosed support space for restaurant or other commercial operations.

The site has ample lighted parking and is located at 3107 Highway 80 W in Jackson, Mississippi. The restaurant has a seventy-year history, while the separate building offers an additional commercial component alongside the primary restaurant facility.

Key Highlights

• Former full‑service restaurant with a seventy‑year history
• Fully equipped primary kitchen
• Second building includes a full kitchen and built‑in bar

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,075

Cap Rate

6.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$241,500 $241.5K

Cap Rate 7%

$172,500 $172.5K

Cap Rate 9%

$134,167 $134.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,730 SF

Gross rent

$18.4K $4.92/SF

− Vacancy

−$1.1K −$0.30/SF

EGI

$17.3K $4.62/SF

− OpEx

−$5.2K −$1.39/SF

NOI

$12.1K $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 Rate 5%

$241,500

Cap Rate 7%

$172,500

Cap Rate 9%

$134,167

Alternative Uses

Best Use

Specialty Retail

$592.3K

$518.2K – $691.0K (±1% cap)

NOI $41,459 @ 7.0% cap · market cap 20.73%

Second Best

Industrial

$172.5K

$150.9K – $201.3K (±1% cap)

NOI $12,075 @ 7.0% cap · market cap 6.04%

Theoretical Best

Office A

$639.2K

$559.3K – $745.7K (±1% cap)

NOI $44,742 @ 7.0% cap · market cap 22.37%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Gym & Fitness Center Skin Care Clinic Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

462

Businesses Nearby

Under-served

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 Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Former restaurant property with two kitchens, a built-in bar, lighted parking, and additional support buildings.

Where is this conventional restaurant located?

The property is located at 3107 Highway 80 W Jackson, MS.

What is the asking price?

The asking price for this property is $200,000.

What are key features of this property?

This property features: Former full‑service restaurant with a seventy‑year history; Fully equipped primary kitchen; Second building includes a full kitchen and built‑in bar