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    1224 Eminence Row Jackson, MS 39213
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    1224 Eminence Row Jackson, MS 39213

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    • Schools
    • 37,921 SF
    For Sale
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    Former School Building For Sale For Sale
    Contact for pricing
    37,921 SF

    Former School Building For Sale

    37,921 SF former school building, part of JPS Repurposing Initiative.

    1224 Eminence Row, Jackson, MS 39213
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    Property ID
    US50-0856519
    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

    • Morrison Adult Education Center / High School / Vocational School

    Property Details for 1224 Eminence Row

    Property size
    37,921 SF
    Property type
    Schools
    Property subtype
    Commercial real estate

    Description

    Single story, 37,921 SF building formerly Morrison Attendance Center (Jackson Public Schools). This property is part of the JPS Repurposing Initiative. The initiative was created to help promote the reuse and redevelopment of the JPS surplus school sites. The primary goal is to spur redevelopment of surplus and undeveloped properties, ensuring that they are transformed into valuable assets that contribute to the growth and prosperity of Jackson’s neighborhoods.

    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
    Jackson
    County
    Rankin
    State
    Mississippi
    Longitude
    -90.1982471
    Latitude
    32.3491413

    Comparable in this City

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      39,280 SF

      Former Dawson Elementary School Property

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      30,132 SF

      Jackson School Repurposing Initiative Property

      Single-story building, part of JPS Repurposing Initiative.
      2601 Ivanhoe Ave, Jackson, MS 39213
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      2.06 Acres Versatile Land Parcel

      2.06 acres zoned for multiple uses in Jackson, MS.
      Vine St & White Oak Ct, Jackson, MS 39213
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    • $199,900
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      Jackson Commercial Property For Sale

      Commercial property featuring shop space, offices, and storage.
      4503 Methodist Farm Rd, Jackson, MS 39213
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    • $199,995
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      Jackson Commercial Property - High Potential

      Prime Jackson location, multi-tenant, expansion potential.
      4410 Medgar Evers Blvd, Jackson, MS 39213
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    • $179,900
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      Prime Jackson Retail Space

      High-potential retail building, 4,000 sq ft
      4470 Sunset Dr, Jackson, MS 39213
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      39,280 SF

      Former Dawson Elementary School Property

      Property formerly used as Dawson Elementary School, part of JPS.
      4215 Sunset Dr, Jackson, MS 39213
      View Details
    • Contact for pricing
      30,132 SF

      Jackson School Repurposing Initiative Property

      Single-story building, part of JPS Repurposing Initiative.
      2601 Ivanhoe Ave, Jackson, MS 39213
      View Details
    • Contact for pricing

      2.06 Acres Versatile Land Parcel

      2.06 acres zoned for multiple uses in Jackson, MS.
      Vine St & White Oak Ct, Jackson, MS 39213
      View Details
    • $199,900
      18,000 SF

      Jackson Commercial Property For Sale

      Commercial property featuring shop space, offices, and storage.
      4503 Methodist Farm Rd, Jackson, MS 39213
      View Details
    • $199,995
      3,555 SF

      Jackson Commercial Property - High Potential

      Prime Jackson location, multi-tenant, expansion potential.
      4410 Medgar Evers Blvd, Jackson, MS 39213
      View Details
    • $179,900
      4,000 SF

      Prime Jackson Retail Space

      High-potential retail building, 4,000 sq ft
      4470 Sunset Dr, Jackson, MS 39213
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office/Warehouse Flex Space Available

      22,500 SF office/warehouse on 3.5 acres for lease.
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      2,000 SF

      Retail Space in Established Center

      Retail space available in high-traffic, visible shopping center.
      3198 W Northside Dr, Jackson, MS 39213
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      22,500 SF

      Office/Warehouse Space in Jackson, MS

      22,500 SF office/warehouse on 3.5 acres for lease.
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      Commercial Land with Concrete Pad

      1.47 acre commercial land with concrete pad and fencing.
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      2,847 SF

      Retail Space in Established Center

      Retail space available in high-traffic Jackson shopping center.
      3188 W Northside Dr, Jackson, MS 39213
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    • $18 SF/Yr

      Renovated Office Building with Lake Views

      Class A+ office building with recent renovations and lake views.
      6425 Lakeover Rd, Jackson, MS 39213
      View Details
    View Listing
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    1224 Eminence Row
    Jackson, MS 39213
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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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