Four-Story Apartment Building with
For Sale
$3,250,000
827 N State Street, Jackson, MS 39202
Gated, fob-controlled parking serves a renovated residential property with elevator access and updated unit finishes.
Property Size23,220 SF
Price / SF$139.97
Days on Market143
Property Features for 827 N State Street
General Information
Standard status
Active
Size
23,220 SF
Elevators
Yes
Property subtype
Multi Family Home
Occupancy
100%
Additional Details
Road Access
Yes
Multifamily Units
24
Tenant in Place
Yes
Amenities
gated parking
LED lighting
security lighting
Building Details
Building Size
23,220 SF
Year Built
1941
Buildings
1
Stories
4
Units
24
Listing Agency:
Madison Properties, Inc.
Listed By:
Rimes H Dinkins · License #57638
(601) 853-0032
Source:
Cumbestrealty
Added: Jun 9
Changed: Oct 28
Last Checked: Oct 26 at 3:52AM
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 Madison Properties, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-story apartment building contains 24 residential units and has an elevator. Renovated interiors feature luxury vinyl plank flooring and tile-wrapped shower surrounds. Building amenities include gated parking with fob-controlled entry, LED lighting, and security lighting. The property was built in 1941 and is reported at 100% occupancy.
At 827 N State Street in Jackson, the building is near UMMC, Baptist Medical Center, Millsaps College, Mississippi College School of Law, Belhaven University, and the Mississippi State Capitol. A roof coating was applied in May 2026 and carries a 15-year unlimited warranty.
At 827 N State Street in Jackson, the building is near UMMC, Baptist Medical Center, Millsaps College, Mississippi College School of Law, Belhaven University, and the Mississippi State Capitol. A roof coating was applied in May 2026 and carries a 15-year unlimited warranty.
Key Highlights
- 24 residential units; 100% occupancy
- Four‑story building with passenger elevator
- Gated parking with fob‑controlled access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,831
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,856,620
$2.9M
Cap Rate 7%
$2,040,443
$2.0M
Cap Rate 9%
$1,587,011
$1.6M
Market Conditions
NOI Build-Up for 23,220 SF
Gross rent
$278.6K $12.00/SF
− Vacancy
−$18.9K −$0.82/SF
EGI
$259.7K $11.18/SF
− OpEx
−$116.9K −$5.03/SF
NOI
$142.8K $6.15/SF
Area
Jackson, MS
Vacancy
6.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,856,620
Cap Rate 7%
$2,040,443
Cap Rate 9%
$1,587,011
Alternative Uses
Best Use
Apartment 5plus
$2.04M
$1.79M – $2.38M
NOI $142,831 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.98M
$3.48M – $4.64M
NOI $278,529 @ 7.0% cap · market cap 8.57%
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
Lease Details
24
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,207
Businesses Nearby
Explore this area
Business Placement
Demographics for 39202, MS
7,405
Population
4,332
Households
1.7
Avg Household Size
35
Median Age
42%
College-Educated
88%
High-School Grad
3.9 sq mi
ZIP Area
1,899
Density / Sq Mi
$41,250
Median Household Income
$32,111
Median Earnings
$876
Median Rent
$211,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Gated, fob-controlled parking serves a renovated residential property with elevator access and updated unit finishes.
Where is this apartment building located?
The property is located at 827 N State Street Jackson, MS.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 24 residential units; 100% occupancy; Four‑story building with passenger elevator; Gated parking with fob‑controlled access
