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    102 Ivy St Ellisville, MS 39437

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    102 Ivy St Ellisville, MS 39437

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    • Retail space
    • 11,657 SF
    • 0.17 lot acres
    For Sale
    $840,000
    View Listing →
    Mixed-Use Property in Downtown Ellisville For Sale
    $840,000
    12,000 SF

    Mixed-Use Property in Downtown Ellisville

    Twelve-unit mixed-use property with retail and residential spaces.

    102 Ivy Street, Ellisville, MS 39437
    View Listing
    Property ID
    US50-0600482
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 102 Ivy St

    Year built
    1900
    Lot size
    0.17 lot acres
    Property size
    11,657 SF
    Property type
    Retail space
    APN
    077D-03-56-001.01
    APU
    077D035600101

    Description

    This exceptional Ellisville, MS property presents a lucrative investment opportunity encompassing a twelve-unit mixed-use building situated in the heart of downtown. The building comprises six residential apartments on the upper floor and six commercial units on the ground floor. Adding to its versatility, four of the ground-floor commercial units have been thoughtfully converted into apartments, each equipped with a kitchen. This adaptable design allows for flexible use, easily reverting these four units back to commercial spaces to suit evolving market demands. The property boasts a prime downtown location, offering excellent visibility and accessibility. Individual utility metering is in place, with twelve separate electrical meters and twelve water meters, simplifying management and tenant billing. Significant renovations have been undertaken, including the installation of new wiring, plumbing, and insulation, ensuring both efficiency and longevity. High-quality custom doors and windows enhance the building's aesthetic appeal and energy efficiency. Current monthly rental income ranges from $550 to $650 per unit, generating a substantial return on investment. The 12,000 square foot building sits on a 0-acre lot, providing ample space for the twelve units. This property offers a unique blend of residential and commercial potential, making it an ideal investment for those seeking a diversified portfolio with strong rental income and significant upside potential. The property's strong location and recent renovations make it a truly attractive proposition.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ellisville
    County
    Jones
    State
    Mississippi
    Longitude
    -89.1964
    Latitude
    31.604
    CBSA code
    29860
    CBSA name
    LAUREL, MS MICROPOLITAN 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
    $11,239
    $0.00
    $0.00
    $67,822
    -
    $8,190
    $443,950
    $452,140

    Comparable in this City

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      811 Hl St

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    • Value Estimation by Request
      1,240 SF

      401 Hwy 11th N

      RETAIL STORES (PERSONAL SERVICES) • 1,240 SF
      401 Hwy 11th N, Ellisville, MS 39437-2232
      View Details
    • Value Estimation by Request
      2.65 Acres

      Ellisville, MS 39437

      RETAIL STORES (PERSONAL SERVICES) • 2.65 Acres
      Ellisville, MS 39437
      View Details
    • Value Estimation by Request
      2,768 SF

      113 Frnt St

      RETAIL STORES (PERSONAL SERVICES) • 2,768 SF
      113 Frnt St, Ellisville, MS 39437-3117
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    • Value Estimation by Request
      4,745 SF

      392 Hwy 590

      RETAIL STORES (PERSONAL SERVICES) • 4,745 SF
      392 Hwy 590, Ellisville, MS 39437-8242
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    • Value Estimation by Request
      3,600 SF

      Ellisville, MS 39437

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      Ellisville, MS 39437
      View Details

    Similar Nearby for Sale

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      12,000 SF

      Mixed-Use Property in Downtown Ellisville

      Twelve-unit mixed-use property with retail and residential spaces.
      102 Ivy St, Ellisville, MS 39437
      View Details
    • $200,000
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      Restaurant Location Opportunity in Ellisville

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      Downtown Ellisville Two-Story Building

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    Ellisville, MS 39437
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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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