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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1510 State St Jackson, MS 39202-1647

    • Office buildings
    • 13,245 SF
    • 0.48 lot acres
    OFF-MARKET
    Last Sale
    Oct 05, 2020
    Value Estimations
    $1,225,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0347913
    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.

    Current Use by Public Records

    • WAS Design, Inc. / Landscape Architect
    • Turk Law Firm / Legal Services
    • Fuse Cloud / Internet Service Provider / Telecommunications Service Provider
    • Carroll Law Firm / Law Firm
    • Foil Wyatt Architects & Planners PLLC / Architect / Design

    Property Details for 1510 State St

    Year built
    1950
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.48 lot acres
    Property size
    13,245 SF
    Property type
    Office buildings
    APN
    0012 0055 000
    APU
    120055000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,140,000
      Market price range: $541k - $1.47M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,010,000
      Current use
      RESTAURANT
      $1,495,000
      Change: +48% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,355,000
      Change: +34% Conversion: Easy
      RETAIL STORES
      $1,175,000
      Change: +16% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,125,000
      Change: +11% Conversion: Difficult
      MEDICAL BUILDING
      $1,060,000
      Change: +5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Hinds
    State
    Mississippi
    Longitude
    -90.1778
    Latitude
    32.3197
    CBSA code
    27140
    CBSA name
    JACKSON, MS METROPOLITAN 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
    $21,262
    $19,800
    $87,348
    $107,148
    -
    $132,000
    $582,320
    $714,320

    Comparable in this City

    • Value Estimation
      $3,910,000
      38,321 SF

      5 Old Riv Pl

      PROFESSIONAL BUILDING • 38,321 SF
      5 Old Riv Pl, Jackson, MS 39202-3449
      View Details
    • Value Estimation
      $1,025,000
      10,812 SF

      4 Old Riv Pl

      PROFESSIONAL BUILDING • 10,812 SF
      4 Old Riv Pl, Jackson, MS 39202-3434
      View Details
    • Value Estimation
      $1,475,000
      19,320 SF

      455 Lamar St

      OFFICE BUILDING • 19,320 SF
      455 Lamar St, Jackson, MS 39202-4016
      View Details
    • Value Estimation
      $950,000
      12,427 SF

      643 State St

      OFFICE BUILDING • 12,427 SF
      643 State St, Jackson, MS 39202-3304
      View Details
    • Value Estimation
      $760,000
      9,966 SF

      921 President St

      OFFICE BUILDING • 9,966 SF
      921 President St, Jackson, MS 39202-2563
      View Details
    • Value Estimation by Request
      2,378 SF

      909 President St

      OFFICE BUILDING • 2,378 SF
      909 President St, Jackson, MS 39202-2563
      View Details

    Similar Nearby for Sale

    • $2,550,000
      33,274 SF

      Office Building Near Millsaps College

      Office building for sale, located near Millsaps College.
      1600 N State St, Jackson, MS 39202
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    • $615,000
      6,559 SF

      Belhaven Office Building Opportunity

      Two-story office building in Belhaven neighborhood, Jackson, MS.
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    • $370,000

      Medical Office Building For Sale

      Leased medical office building with potential leaseback opportunity.
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    • $1,300,000
      15,000 SF

      Red Brick Office/Warehouse Building

      15,000 SF office building with climate-controlled warehouse. I-55 visibility.
      817 East River Pl, Jackson, MS 39202
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    • $6,500,000
      95,281 SF

      Prime Commercial Property For Sale

      Commercial property for sale with high traffic and favorable zoning.
      1421 N State St, Jackson, MS 39202
      View Details
    • Contact for pricing
      1,200 SF

      East River Place Office Complex

      Jackson, MS Executive Suites
      840 River Pl, Jackson, MS 39202
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    Similar Nearby for Lease

    • $13 SF/Yr
      1,795 SF

      North Jackson Office Space Available

      Office space for rent with I-55 access in Jackson.
      4915 North St North, Jackson, MS 39202
      View Details
    • $17 SF/Yr
      3,129 SF

      Flowood Office Space for Rent

      Office space featuring 10 offices, conference room, and break room.
      132 Riverview Dr, Flowood, MS 39202
      View Details
    • $5,250 /Mo
      10,500 SF

      Industrial Property with Office Space

      Centrally located industrial property with warehouse and office space for rent.
      819 Larson St, Jackson, MS 39202
      View Details
    • Contact for pricing
      5,236 SF

      Retail Space Available For Lease

      Retail property with 5236 square feet available for rent.
      680 Larson St, Jackson, MS 39202
      View Details
    • Contact for pricing
      2,205 SF

      Retail Space in Jackson, MS

      Retail space available for lease in Jackson, Mississippi.
      1121 N Jefferson St, Jackson, MS 39202
      View Details
    • $5 SF/Yr
      10,500 SF

      10,500 SF Warehouse for Lease

      Prime Industrial Space, Excellent Location
      819 Larson St, Jackson, MS 39202
      View Details
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    1510 State St
    Jackson, MS 39202-1647
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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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