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    123 State St Jackson, MS 39201

    Sponsored
    For Sale
    $525,000

    Historic 3-Story Office Building, Value-Add Opportunity

    Property size:
    5,044 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional value-add investment opportunity presents a historic three-story office building located at 123 N State St in the heart of Jackson, Mississippi. Known as "The Lavorn," this mixed-use property boasts a total of 5,044 square feet, currently operating at 50% occupancy. The asking price is $525,000, translating to $104.08 per square foot. The building's traditional office layout offers multiple rooms and/or offices on each of its three floors, providing significant potential for renovation and increased rental income. Situated in Hinds County, zip code 39201, this property presents a unique chance to capitalize on the revitalization of downtown Jackson. The building's prime location and historic character offer a compelling investment proposition for those seeking a value-add project with substantial upside potential. The property's existing infrastructure provides a solid foundation for future improvements and tenant enhancements. This is an excellent opportunity to acquire a significant piece of Jackson's history and contribute to its ongoing growth. Further details are available upon request.

    Property Features for 123 State St

    General Information

    Property type
    Multifamily properties
    Square Feet
    5,044 SF

    Building Details

    Buildings
    1
    Stories
    3

    HighLights

    • Asking price: $525,000
    • Mixed‑use, multifamily, and traditional office property totaling 5,044 square feet
    • Value‑add investment opportunity with a price per square foot of $104.08
    • Currently 50% occupied
    • Three‑story building located at 123 N State St, Jackson, MS 39201.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Hinds
    State
    Mississippi
    Longitude
    -90.18057
    Latitude
    32.3000344

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    FAQs

    What type of property is this?
    Multifamily property - Historic 3-Story Office Building, Value-Add Opportunity
    Where is this multifamily property located?
    The property is located at 123 State St Jackson, MS.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: Asking price: $525,000; Mixed-use, multifamily, and traditional office property totaling 5,044 square feet; Value-add investment opportunity with a price per square foot of $104.08
    Request Owner's contact information
    123 State St Jackson, MS 39201
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    Jackson, MS 39201
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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
    123 State St Jackson, MS 39201
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