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    1421 State St Jackson, MS 39202

    For Sale
    $6,500,000

    Jackson, MS Medical Office Building - Redevelopment Opportunity

    Property size:
    95,281 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This five-story, 95,281-square-foot medical office building in Jackson, Mississippi, presents a compelling value-add redevelopment opportunity. Located at 1421 N State St, 39202, in the heart of the Jackson medical district, this property offers significant potential. The building, constructed in 1986, sits on a 3.72-acre lot and features 290 parking spaces. Currently zoned C-2, it benefits from a prime location between Millsaps College and Belhaven University, and is within close proximity to Baptist Memorial Hospital and the University of Mississippi Medical Center. One 3,918-square-foot medical office lease is currently in place on the fifth floor. The asking price is $6,500,000, translating to $68.22 per square foot. This property is ideal for an owner-user or a developer seeking to capitalize on its strategic location and substantial square footage. Its proximity to major medical facilities, universities, and convenient access via North State Street and Webster Street make it a highly attractive investment. The property's size and existing lease provide a solid foundation for future growth and development. This is a rare chance to acquire a significant asset in a thriving medical district.

    Property Features for 1421 State St

    General Information

    Property type
    Multifamily properties
    Square Feet
    95,281 SF
    Lot Size
    162,043 SF

    Building Details

    Year Built
    1986
    Buildings
    1
    Stories
    5

    HighLights

    • Adjacent to Millsaps College.
    • 0.44 miles west of Belhaven University.
    • Across from First Presbyterian Church on Belhaven Street.
    • Access to Webster Street traffic signal on North State Street.
    • 0.56 miles south of the University of Mississippi Medical Center.
    • 600 feet north of Baptist Memorial Hospital.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jackson Ear Nose ... Medical Clinic Permanent Cosmetics By ... Beauty Salon The Clinic of Plastic Surgery Plastic Surgeon Dr. William H. ... Cosmetic Surgeon Dr. William O. ... Plastic Surgeon

    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
    -90.178390393961
    Latitude
    32.319191804345

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    FAQs

    What type of property is this?
    Multifamily property - Jackson, MS Medical Office Building - Redevelopment Opportunity
    Where is this multifamily property located?
    The property is located at 1421 State St Jackson, MS.
    What is the asking price?
    The asking price for this property is $6,500,000.
    What are key features of this property?
    This property features: Adjacent to Millsaps College.; 0.44 miles west of Belhaven University.; Across from First Presbyterian Church on Belhaven Street.
    Request Owner's contact information
    1421 State St 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
    1421 State St Jackson, MS 39202
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