Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Multifamily Investment Opportunity Title is generated by Realmo AI

    8221 Mississippi 39, Meridian, MS 39305

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    73-unit multifamily community with value-add potential near major employers.

    Added:
    Jan 27, 2026
    Days on Market:
    128
    Last Refresh:
    Feb 8 at 9:43 pm

    Property Features for 8221 Mississippi 39

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Jenny Hale

    Listing agent Jenny Hale License #995712583

    Listing office ICON Real Estate Co

    Listing date Jan 27, 2026

    Source Nmrk

    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 ICON Real Estate Co

    HighLights

    • Significant rent increase potential through interior renovations; comparable upgraded units achieving $243-$289 monthly premiums.
    • Recent capital improvements, including new roofs and municipal sewer connection.
    • Strategic location at the intersection of I‑20 and I‑59, placing 55% of the U.S. population within a day's drive.
    • Proximity to major employers, including Naval Air Station Meridian, Ochsner Rush Health, and Anderson Regional Medical Center.
    • Favorable market dynamics with limited renovated multifamily inventory and steady rent growth.
    • Meridian serves as a regional medical and education hub, hosting Mississippi State University–Meridian.

    Overview

    This 73-unit multifamily community presents a value-add opportunity through interior renovations, as most kitchens and baths remain original. Upgraded units in the market achieve rent premiums of $243–$289 per month, indicating immediate revenue growth potential. The property is located within minutes of Naval Air Station Meridian (3,000 employees), Ochsner Rush Health (2,465 employees), Anderson Regional Medical Center (1,343 employees), and East Mississippi State Hospital (943 employees). The limited supply of renovated multifamily inventory and steady rent growth create a compelling environment for repositioning success. Major exterior and infrastructure work was completed in 2020, including new roofs and connection to municipal sewer, allowing new ownership to focus capital on high-return interior upgrades. Meridian serves as East Mississippi’s leading healthcare center and hosts Mississippi State University–Meridian, a growing academic anchor with expanding medical programs. Meridian sits at the intersection of I-20, I-59, and five major highways, placing 55% of the U.S. population within a day’s drive.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Meridian
    County
    Lauderdale
    State
    Mississippi
    Longitude
    -88.6162
    Latitude
    32.4868

    Nearby Similar for Sale

    • $250,000
      5,000 SF

      Meridian Commercial Building on Acreage

      5000 sqft commercial building on 3.59 acres for sale.
      5381 Vimville Causeyville Road, Meridian, MS 39301
      View Details
    • $149,900
      2,530 SF

      Multifamily Income Home

      Multi-family home with multiple bedrooms and kitchen spaces, suitable for owner-occupants or rental use.
      2300 23rd Avenue, Meridian, MS 39301
      View Details
    • $27,500

      Multi-Use Office and Day Care Building

      Flexible interior layout with central HVAC, reception space, multiple offices, and a large back yard for added parking.
      4717 8th Street, Meridian, MS 39301
      View Details
    • $475,000

      Mixed-Use Office and Retail Property

      Two-level configuration offers income potential with a rented ground-floor and upstairs office space on a busy thoroughfare.
      1312 22nd Avenue, Meridian, MS 39301
      View Details
    • $139,000
      735 SF

      Commercial Building on Highway 19N

      Well-maintained commercial building with high traffic and secure workspace.
      420 MS-19, Meridian, MS 39307
      View Details
    • $28
      13,631 SF

      New Retail Strip in Meridian

      New retail strip center in Meridian's shopping and entertainment corridor.
      300 N Frontage Rd, Meridian, MS 39301
      View Details
    • $302,000

      Meridian Income Property Near Downtown

      Income-producing property near hospitals and downtown Meridian.
      2310 15th Street, Meridian, MS 39301
      View Details
    • $2,300,000
      17,815 SF

      Conference Center and Restaurant Facility

      Strategically located conference center and restaurant facility for sale.
      111 U.S. 11, Meridian, MS, 39301
      View Details
    • $1,750,000
      16,732 SF

      Downtown Meridian Commercial Building

      Versatile commercial building with office, warehouse, and storefront.
      1425 4th Street, Meridian, MS 39301
      View Details
    • $1,329,000

      Meridian Commercial Property I-20/I-59 Frontage

      Prime commercial property with I-20/I-59 frontage in Meridian, MS.
      400 N Frontage Rd, Meridian, MS
      View Details
    • Contact for pricing
      4,640 SF

      Single Story Office Building For Sale

      Single-story office building featuring a drive-in garage/storage area.
      4910 29th Avenue, Meridian, MS, 39305
      View Details
    • $630,000
      8,200 SF

      Office and Warehouse on Highway

      Office and warehouse space with highway frontage in Meridian, MS.
      5625 Old Hwy 80 W, Meridian, MS 39307
      View Details

    FAQs

    What type of property is this?
    Apartment building - 73-unit multifamily community with value-add potential near major employers.
    Where is this apartment building located?
    The property is located at 8221 Mississippi 39 Meridian, MS.
    What are key features of this property?
    This property features: Significant rent increase potential through interior renovations; comparable upgraded units achieving $243-$289 monthly premiums.; Recent capital improvements, including new roofs and municipal sewer connection.; Strategic location at the intersection of I‑20 and I‑59, placing 55% of the U.S. population within a day's drive.
    (337) 534-4099
    We can help!
    Listing Contact
    Jenny Hale
    Real Estate License ID: 995712583
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    8221 Mississippi 39, Meridian, MS 39305-9658
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!