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    Gillespie Green Streets 3.7Acres Spg Starkville, MS 39759

    Sponsored
    For Sale
    $9,995,000

    3.7-acre prime Starkville property. High potential.

    Property size:
    161,172 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 3.7-acre mixed-use property in Starkville, Mississippi, presents a rare redevelopment opportunity. Located near Highway 12, the Cotton District, and Mississippi State University, this prime location boasts significant potential for investors. The property currently features multiple apartment structures and two houses, including the Chateau Maroon (30 units, all 2-bed/1-bath), University Apartments (16 units, all 2-bed/1-bath), a fourplex, an office building, a shop building, and a 2-bed/1-bath house at 515 E Gillespie St, and a 3-bed/1-bath house at 506 Green St. The total square footage is 161,172, encompassing retail, multifamily, and office space. Zoning is primarily T-5C, with some areas zoned TN-E. The asking price is $9,995,000. Due to existing loan terms, the earliest closing date is December 2025. The owner strongly prefers a joint venture/partnership proposal but will consider an outright purchase offer. This property offers substantial upside for a developer seeking to capitalize on Starkville's thriving market and its designation as one of the "best small towns in the South." Subject to city guidelines. Address: 3.7 acres Spring Gillespie Green Streets, Starkville, MS 39759.

    Property Features for Gillespie Green Streets 3.7Acres Spg

    General Information

    Property type
    Multifamily properties
    Square Feet
    161,172 SF
    Lot Size
    161,172 SF

    HighLights

    • Chateau Maroon, 30‑unit multifamily property, all 2‑bedroom/1‑bathroom units.
    • University Apartments, 16‑unit multifamily building, all 2‑bedroom/1‑bathroom units.
    • Mixed‑use building at 521 & 523 E Gillespie St, including fourplex, office, and retail space.
    • 2‑bedroom/1‑bathroom single‑family home at 515 E Gillespie St.
    • 3‑bedroom/1‑bathroom single‑family home at 506 Green St.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Starkville
    County
    Oktibbeha
    State
    Mississippi
    Longitude
    -88.8106671
    Latitude
    33.459544

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    FAQs

    What type of property is this?
    Multifamily property - 3.7-acre prime Starkville property. High potential.
    Where is this multifamily property located?
    The property is located at Gillespie Green Streets 3.7Acres Spg Starkville, MS.
    What is the asking price?
    The asking price for this property is $9,995,000.
    What are key features of this property?
    This property features: Chateau Maroon, 30-unit multifamily property, all 2-bedroom/1-bathroom units.; University Apartments, 16-unit multifamily building, all 2-bedroom/1-bathroom units.; Mixed-use building at 521 & 523 E Gillespie St, including fourplex, office, and retail space.
    Request Owner's contact information
    Gillespie Green Streets 3.7Acres Spg Starkville, MS 39759
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    Starkville, MS 39759
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    Realmo Value Estimation

    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.

    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.

    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
    Gillespie Green Streets 3.7Acres Spg Starkville, MS 39759
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