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    119 W Ivy St, Unit 1 Ellisville, MS 39437
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    119 W Ivy St, Unit 1, Ellisville, MS 39437

    View on Map
    • Retail space
    • 8,458 SF
    • 0.21 lot acres
    For Sale
    $250,000
    View Listing →
    Downtown Ellisville Two-Story Building For Sale
    $250,000
    6,102 SF

    Downtown Ellisville Two-Story Building

    Two-story building in downtown Ellisville with restaurant and office space.

    119 W Ivy St, Building 1, Ellisville, MS 39437
    View Listing
    Property ID
    US50-0551904
    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 119 W Ivy St

    Year built
    1900
    Lot size
    0.21 lot acres
    Property size
    8,458 SF
    Property type
    Retail space
    APN
    077D-03-47-009.00
    APU
    077D034700900

    Description

    This exceptional 9,630 square foot retail property, located at 119 Ivy St Bldg 2, Ellisville, MS 39437, presents a unique investment opportunity. The building, constructed circa 1900, boasts a captivating blend of historical charm and modern functionality. Its eclectic layout is ideal for a variety of uses, including a flea market, event venue, restaurant, or other retail ventures. The property features high ceilings with exposed beams, showcasing its historical character. A notable feature is the balcony that wraps around four sides of the front section of the building. For ease of access to the second floor, a freight elevator is conveniently located in the rear. Recent improvements include a new silicone roof installed in April 2021, complemented by spray foam insulation. The building's substantial size, ranging from 7,501 to 10,000 square feet, offers ample space for diverse business needs. Explore the numerous nooks and crannies throughout the first and second floors, revealing the building's unique character. This property is available for purchase, and a package deal with MLS#36176 is also an option, offering potential price reductions. The asking price is $415,000. A virtual tour is available online.

    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
    -89.1965
    Latitude
    31.6046
    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
    $9,358
    $0.00
    $0.00
    $56,474
    -
    $10,370
    $366,120
    $376,490

    Comparable in this City

    • Value Estimation by Request
      1,440 SF

      811 Hl St

      RETAIL STORES (PERSONAL SERVICES) • 1,440 SF
      811 Hl St, Ellisville, MS 39437
      View Details
    • 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
      View Details
    • Value Estimation by Request
      4,745 SF

      392 Hwy 590

      RETAIL STORES (PERSONAL SERVICES) • 4,745 SF
      392 Hwy 590, Ellisville, MS 39437-8242
      View Details
    • Value Estimation by Request
      4,914 SF

      101 Ivy St

      RETAIL STORES (PERSONAL SERVICES) • 4,914 SF
      101 Ivy St, Ellisville, MS 39437-2637
      View Details

    Similar Nearby for Sale

    • $120,000
      1.60 Acres

      Commercial Land I-59 Corridor Access

      1.6-acre commercial development opportunity off I-59 in Ellisville, MS.
      00 Highway 11, Ellisville, MS 39437
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    • $120,000
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      Ellisville Commercial Development Opportunity

      1.6-acre commercial development site off I-59 in Ellisville, MS.
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    • Contact for pricing
      12,000 SF

      Mixed-Use Property in Downtown Ellisville

      Twelve-unit mixed-use property with retail and residential spaces.
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    • $250,000
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      Downtown Ellisville Two-Story Building

      Two-story building in downtown Ellisville with restaurant and office space.
      119 W Ivy St, Ellisville, MS 39437
      View Details
    • $299,900
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      Ellisville Commercial Corner Lot

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      Restaurant Location Opportunity in Ellisville

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    View Listing
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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.

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