Flex Warehouse with Office
For Sale
$1,800,000
5295 I 55 N, Jackson, MS 39206
Flex property with warehouse and office space, plus an option to retain the current flag store tenant.
Property Size20,000 SF
Lot Size2.73 Acres
Price / SF$90
Days on Market226
Property Features for 5295 I 55 N
General Information
Standard status
Active
Size
20,000 SF
Lot size
2.73 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$17,202
Listing Agency:
Overby, Inc.
Listed By:
Matthew Benton · License #S49807
(601) 366-8511
Source:
Exprealty
Added: Jan 21
Changed: Sep 4
Last Checked: Sep 1 at 11:49PM
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 Overby, Inc.
Investment Insights
Based on property information with market context.
This versatile flex property was formerly operated as a car dealership and tire shop and is currently home to A Complete Flag Source. The site offers the option to retain the flag store as a tenant while using approximately 6,000 SF of warehouse/office space for personal use or additional leasing. The property is situated on a 2.73-acre lot, providing room for flexible operations and potential future development while keeping the existing structure.
The property has excellent frontage and visibility from I-55, with convenient access from both the I-55 Frontage Road and Bounds Street.
For buyers and owner-operators, the combination of retail tenancy and warehouse/office space supports multiple use approaches within a highly accessible, visible location.
The property has excellent frontage and visibility from I-55, with convenient access from both the I-55 Frontage Road and Bounds Street.
For buyers and owner-operators, the combination of retail tenancy and warehouse/office space supports multiple use approaches within a highly accessible, visible location.
Key Highlights
- Versatile flex property formerly used as a car dealership and tire shop
- Option to retain the current flag store as a tenant while using space for personal use or leasing
- Approximately 6,000 SF of warehouse/office space for owner use or additional tenanting
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
$108,497
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
6.03%
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%
$2,169,940
$2.2M
Cap Rate 7%
$1,549,957
$1.5M
Cap Rate 9%
$1,205,522
$1.2M
Market Conditions
NOI Build-Up for 20,000 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
$132.0K $6.60/SF
− Vacancy
−$4.4K −$0.22/SF
EGI
$127.6K $6.38/SF
− OpEx
−$19.1K −$0.96/SF
NOI
$108.5K $5.42/SF
Area
Jackson, MS
Vacancy
3.30%
Lease Rate
$6.60 /SF/Yr
Expense Ratio
15.00%
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%
$2,169,940
Cap Rate 7%
$1,549,957
Cap Rate 9%
$1,205,522
Alternative Uses
Best Use
Warehouse
$1.55M
$1.36M – $1.81M
NOI $108,497 @ 7.0% cap · market cap 6.03%
Second Best
Industrial
$925.0K
$809.3K – $1.08M
NOI $64,747 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $239,904 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Under-served
Demand for This Use
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 Industrial 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?
Flex space - Flex property with warehouse and office space, plus an option to retain the current flag store tenant.
Where is this flex space located?
The property is located at 5295 I 55 N Jackson, MS.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Versatile flex property formerly used as a car dealership and tire shop; Option to retain the current flag store as a tenant while using space for personal use or leasing; Approximately 6,000 SF of warehouse/office space for owner use or additional tenanting
