229 Highway 19Meridian, MS 39307

Property Details for 229 Highway 19

Year built

1955

Lot size

1.30 AC

Property size (Sq ft)

3,600 SF

Property type

Retail properties

Property subtype

Retail space

APN

76144415000100201

APU

76144415000100201

Description

This exceptional commercial property, located at 229 Highway 19 North in Meridian, Mississippi, presents a unique investment opportunity. The 4,579 square foot brick building sits on a 1.25-acre lot, offering significant potential for expansion or additional parking. The building boasts a prime location with high visibility and substantial drive-by traffic. Inside, you'll find a well-designed layout including an office reception area, a private office, ample storage space, and two half-bathrooms. An overhead door on the north side of the building provides convenient access for loading and unloading. The office area is climate-controlled for year-round comfort. The building also features a relatively new roof, installed approximately two years ago. This property is ideal for a variety of commercial uses and offers a compelling combination of location, size, and features. Its strategic positioning on Highway 19 North ensures maximum exposure to a large volume of daily traffic, making it an excellent choice for businesses seeking high visibility and accessibility. The additional acre of level land provides significant room for future growth and development. The asking price is $149,500. This is a rare opportunity to acquire a well-maintained commercial property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $887,067

  6.5%

  $818,831

  7%

  $760,343

• Comparable approach

  Method

  Valuation

  Relative Method

  $675,375

  Geo Method

  $1,769,584

• Alternative Use

  Use

  Valuation

  Residential

  $690,714

  Hospitality

  $632,691

  Educational

  $526,391

  Medical

  $544,495

  Retail

  $818,831

Location Insight

City

Meridian

County

Lauderdale

State

Mississippi

Latitude

32.3585

Longitude

-88.7306

CBSA code

32940

CBSA name

MERIDIAN, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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