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    Property profile & analytics

    249 Mitchell Ave Jackson, MS 39213-7024

    • Manufacturing properties
    • 58,742 SF
    • 3.82 lot acres
    OFF-MARKET
    Value Estimations
    $965,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0126685
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Manufacturing properties

    Property Details for 249 Mitchell Ave

    Year built
    2000
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.82 lot acres
    Property size
    58,742 SF
    Property type
    Manufacturing properties
    APN
    0103 0034 000
    APU
    1030034000

    Description

    This exceptional 58,846-square-foot industrial property, located at 249 W Mitchell Ave in Jackson, Mississippi, presents a compelling investment opportunity. Built in 2000 and extensively renovated in 2020, this single-story building sits on a 3.7-acre lot and is zoned I-1 INDUSTRIAL. The property features three loading docks and three dock-high doors, making it ideal for efficient distribution and warehousing operations. The asking price is $1,995,000, translating to a price per square foot of $50.90. The property's multi-tenant configuration offers flexibility for various business models, including distribution, flex space, warehouse, and manufacturing uses. The property's address is 249 W Mitchell Ave, Jackson, MS 39213, and its APN is 103-34. This well-maintained facility offers a blend of modern amenities and strategic location, making it an attractive option for owner-users seeking a versatile and functional industrial space. The property's single-story design optimizes workflow and accessibility. Its location in Hinds County provides convenient access to major transportation routes, enhancing logistical efficiency. This is a rare opportunity to acquire a substantial industrial property in a thriving Mississippi market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $970,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,125,000
      Market price range: $1.13M - $2.43M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Hinds
    State
    Mississippi
    Longitude
    -90.1869
    Latitude
    32.3353
    CBSA code
    27140
    CBSA name
    JACKSON, MS METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $12,826
    $12,872
    $53,807
    $66,679
    -
    $85,810
    $358,710
    $444,520

    Comparable in this City

    • Value Estimation
      $875,000
      44,883 SF

      100 Woodrow Wilson Ave

      MANUFACTURING (LIGHT) • 44,883 SF
      100 Woodrow Wilson Ave, Jackson, MS 39213-7643
      View Details
    • Value Estimation
      $220,000
      990 SF

      715 Lerida Ct

      MANUFACTURING (LIGHT) • 990 SF
      715 Lerida Ct, Jackson, MS 39213-6915
      View Details
    • Value Estimation
      $255,000
      5,111 SF

      1000 Pocahontas Rd

      MANUFACTURING (LIGHT) • 5,111 SF
      1000 Pocahontas Rd, Jackson, MS 39213
      View Details
    • Value Estimation
      $965,000
      86,063 SF

      2050 Frst Ave

      MANUFACTURING (LIGHT) • 86,063 SF
      2050 Frst Ave, Jackson, MS 39213-8134
      View Details
    • Value Estimation
      $275,000
      8,182 SF

      330 Commerce Park Dr

      MANUFACTURING (LIGHT) • 8,182 SF
      330 Commerce Park Dr, Jackson, MS 39213-7054
      View Details
    • Value Estimation
      $270,000
      4,080 SF

      County Line Rd

      MANUFACTURING (LIGHT) • 4,080 SF
      County Line Rd, Jackson, MS 39213
      View Details

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    Similar Nearby for Lease

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    249 Mitchell Ave
    Jackson, MS 39213-7024
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    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
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