Downtown Office Building with
For Sale
$425,000
501 State Street, Jackson, MS 39201
One-story office building in downtown with front and rear parking.
Property Size2,824 SF
Days on Market224
Property Features for 501 State Street
General Information
Standard status
Active
Size
2,824 SF
Class
B
Property subtype
Office
Building Details
Building Size
2,824 SF
Year Built
1985
Listing Agency:
Speed Commercial Real Estate
Listed By:
Jeff Speed, CCIM · License #MS #16810
(601) 624-8380
Source:
Speedcres
Added: Mar 6
Changed: Oct 2
Last Checked: Oct 16 at 6:27AM
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
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Investment Insights
Based on property information with market context.
This standalone one-story building is located at the corner of State Street and Court St, in the heart of downtown. It features a front parking lot with eight spaces and a gated rear parking lot with twelve spaces. The interior includes three large offices, a break area, a reception area, a separate waiting room in the front, two bathrooms, and a spacious conference room. It is within walking distance of the courthouse, post office, and federal buildings. The property is conveniently situated near restaurants and shops, with easy access to the interstate.
Key Highlights
- Prime downtown location at the corner of State Street and Court St, offering high visibility and accessibility.
- Ample parking with 20 spaces (8 in front, 12 gated in rear).
- Functional layout featuring three large offices, a spacious conference room, and a separate waiting room.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,392
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$527,840
$527.8K
Cap Rate 7%
$377,029
$377.0K
Cap Rate 9%
$293,244
$293.2K
Market Conditions
NOI Build-Up for 2,824 SF
Gross rent
$40.0K $14.16/SF
− Vacancy
−$4.8K −$1.70/SF
EGI
$35.2K $12.46/SF
− OpEx
−$8.8K −$3.12/SF
NOI
$26.4K $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 Rate 5%
$527,840
Cap Rate 7%
$377,029
Cap Rate 9%
$293,244
Alternative Uses
Best Use
Office B
$377.0K
$329.9K – $439.9K
NOI $26,392 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$483.9K
$423.4K – $564.6K
NOI $33,874 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,155
Businesses Nearby
Explore this area
Business Placement
Demographics for 39201, MS
574
Population
749
Households
0.8
Avg Household Size
40
Median Age
75%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
273
Density / Sq Mi
$77,946
Median Household Income
$77,838
Median Earnings
$1,341
Median Rent
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - One-story office building in downtown with front and rear parking.
Where is this office building located?
The property is located at 501 State Street Jackson, MS.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Prime downtown location at the corner of State Street and Court St, offering high visibility and accessibility.; Ample parking with 20 spaces (8 in front, 12 gated in rear).; Functional layout featuring three large offices, a spacious conference room, and a separate waiting room.
