Single-Story Office
For Sale
$315,000
4515 Office Park Drive, Jackson, MS 39206
Commercial Sale, Jackson, MS
Property Size2,588 SF
Lot Size0.23 Acres
Price / SF$121.72
Days on Market380
Property Features for 4515 Office Park Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Directions
Situated across Office Park Drive from Banner Hall and across Interstate 55 from Highland Viillage.
Standard status
Active
APN
535-524
Size
2,588 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
80 FT N & S BY 125 FT E & W BEG 95 FT N OF SW COR & BEING PT LOT 4 TRAWICK EST SUB
Tax Annual Amount
3742
Legal Description
80 FT N & S BY 125 FT E & W BEG 95 FT N OF SW COR & BEING PT LOT 4 TRAWICK EST SUB
Amenities
two restrooms
welcoming entrance foyer
Building Details
Year built
1956
Floors in Building
1
Listing Agency:
Real Broker, LLC.
(228) 471-5211
Listed By:
Will Miller · License #S40834
(601) 214-4906
Added: Aug 11, 2025
Changed: Aug 23
Last Checked: Aug 25 at 5:06AM
MLS# 4122087
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-story office property contains Approx. 2,588 sq ft of interior space, with a welcoming entrance foyer and two restrooms. The layout can be configured into three individual office suites, providing flexibility for separate occupants or a multi-office arrangement. The property is being sold as-is, with no warranties from the seller.
Located in the Interstate 55 North Corridor at 4515 Office Park Drive in Jackson, the building includes fourteen parking spaces. Past occupants included an architectural practice and a chiropractic business, providing established office-use context for the existing improvements.
Located in the Interstate 55 North Corridor at 4515 Office Park Drive in Jackson, the building includes fourteen parking spaces. Past occupants included an architectural practice and a chiropractic business, providing established office-use context for the existing improvements.
Key Highlights
- Approx. 2,588 sq ft of office space
- Fourteen parking spaces
- Can be configured into three individual office suites
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
$24,186
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
7.68%
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%
$483,720
$483.7K
Cap Rate 7%
$345,514
$345.5K
Cap Rate 9%
$268,733
$268.7K
Market Conditions
NOI Build-Up for 2,588 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
$36.6K $14.16/SF
− Vacancy
−$4.4K −$1.70/SF
EGI
$32.2K $12.46/SF
− OpEx
−$8.1K −$3.12/SF
NOI
$24.2K $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%
$483,720
Cap Rate 7%
$345,514
Cap Rate 9%
$268,733
Alternative Uses
Best Use
Office B
$345.5K
$302.3K – $403.1K
NOI $24,186 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$443.5K
$388.1K – $517.4K
NOI $31,044 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 39206, MS
22,553
Population
11,237
Households
2
Avg Household Size
38
Median Age
28%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
2,563
Density / Sq Mi
$41,611
Median Household Income
$32,410
Median Earnings
$1,084
Median Rent
$117,400
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 - The existing layout can be arranged as separate office suites with a dedicated entrance foyer.
Where is this office building located?
The property is located at 4515 Office Park Drive Jackson, MS.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Approx. 2,588 sq ft of office space; Fourteen parking spaces; Can be configured into three individual office suites
