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    1600 State St Jackson, MS 39202

    For Sale
    $2,550,000

    Prime Medical/Office Building, High Potential

    Property size:
    33,274 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional redevelopment opportunity presents a 33,274 square foot, four-story Class B building situated on a 1.63-acre lot in Jackson, Mississippi's thriving medical district. Located at 1600 N State St, zip code 39202, this property boasts a strategic location between Baptist Hospital and the University of Mississippi Medical Center (UMMC), across from Millsaps College, and adjacent to the Fairview Inn. Currently at 10% occupancy, with one existing 3,729 square foot medical office lease in place on the second floor, this mixed-use property (C-2 zoning) offers significant upside. The building, constructed in 1973, presents a compelling value-add investment opportunity. Its prime location offers excellent visibility due to a traffic signal and convenient access from Fairview Street. The property's proximity to major medical facilities, a college campus, and a hotel creates a unique opportunity for a mixed-use development, potentially incorporating retail space on the ground floor and medical/office/residential units on the upper three floors. The asking price is $2,550,000, translating to $76.64 per square foot. This is a rare chance to acquire a substantial property in a high-demand area with considerable potential for future growth and return on investment.

    Property Features for 1600 State St

    General Information

    Property type
    Medical offices
    Square Feet
    33,274 SF
    Class
    B
    Lot Size
    71,003 SF

    Building Details

    Year Built
    1973
    Buildings
    1
    Stories
    4

    HighLights

    • High‑traffic corner lot adjacent to Fairview Inn.
    • Signalized intersection provides excellent visibility.
    • Prominent location directly across from Millsaps College's Oakwood Street entrance.
    • Convenient access from Fairview Street.
    • Less than half a mile from the University of Mississippi Medical Center.
    • Close proximity to Baptist Memorial Hospital (0.31 miles).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Allin Jr John ... Psychologist Adams Robert Psychologist Dr. Todd N. ... Allergist Sims Tammy Doctor Murphy S Martin Nephrologist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Dental Office Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Hinds
    State
    Mississippi
    Longitude
    -90.1775214
    Latitude
    32.3206365

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    FAQs

    What type of property is this?
    Medical office - Prime Medical/Office Building, High Potential
    Where is this medical office located?
    The property is located at 1600 State St Jackson, MS.
    What is the asking price?
    The asking price for this property is $2,550,000.
    What are key features of this property?
    This property features: High-traffic corner lot adjacent to Fairview Inn.; Signalized intersection provides excellent visibility.; Prominent location directly across from Millsaps College's Oakwood Street entrance.
    Request Owner's contact information
    1600 State St Jackson, MS 39202
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    Jackson, MS 39202
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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
    1600 State St Jackson, MS 39202
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