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    Property profile & analytics

    1775 Lelia Dr Jackson, MS 39216

    • Office buildings
    • 4,762 SF
    • 0.23 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimations
    $205,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0097490
    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

    • Brown Stella w PhD / Psychologist
    • Level 3 Transactions / Real Estate Agency
    • AccuCom / Accountant
    • Good Neighbors Fence Building / Handyman/Handywoman/Handyperson
    • Hair By Day / Beauty Salon

    Property Details for 1775 Lelia Dr

    Year built
    1971
    Construction
    WOOD
    Lot size
    0.23 lot acres
    Property size
    4,762 SF
    Property type
    Office buildings
    APN
    0542 0242 000
    APU
    5420242000

    Description

    The Newman Building, located at 1775 Lelia Dr, Jackson, MS 39216, offers a fantastic opportunity to lease a well-maintained office space. This traditional office building, constructed in 1971, features a total of 4,762 square feet spread across two stories. Currently, there is 400 square feet of immediately available space, perfect for a small business or individual professional. The suite includes a private office, a reception area, and a kitchenette, providing a complete and functional workspace. Common area restrooms are conveniently located within the building. The minimum divisible space is 400 square feet, making this an ideal option for those seeking a smaller, efficient office. The building is situated near Ridgewood Rd in Hinds County and does not have elevators. The monthly rent is $500, which includes all utilities and janitorial services, offering significant cost savings. This is a rare opportunity to secure a move-in ready office space in a desirable Jackson location at an attractive price point. Don't miss out on this chance to establish your business in a well-maintained and convenient setting.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $240,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $174,000
      Market price range: $175k - $396k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $290,000
      Current use
      RETAIL STORES
      $365,000
      Change: +25% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Hinds
    State
    Mississippi
    Longitude
    -90.1421
    Latitude
    32.3328
    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
    $4,353
    $11,363
    $11,270
    $22,633
    -
    $75,750
    $75,130
    $150,880

    Comparable in this City

    • Value Estimation
      $465,000
      6,977 SF

      490 Woodrow Wilson Ave

      OFFICE BUILDING • 6,977 SF
      490 Woodrow Wilson Ave, Jackson, MS 39216-4526
      View Details
    • Value Estimation
      $400,000
      9,044 SF

      1425 Lakeland Dr

      OFFICE BUILDING • 9,044 SF
      1425 Lakeland Dr, Jackson, MS 39216-4725
      View Details
    • Value Estimation
      $490,000
      14,980 SF

      2616 Lakeward Dr

      OFFICE BUILDING • 14,980 SF
      2616 Lakeward Dr, Jackson, MS 39216-4863
      View Details
    • Value Estimation by Request
      15,807 SF

      1435 Lakeland Dr

      OFFICE BUILDING • 15,807 SF
      1435 Lakeland Dr, Jackson, MS 39216
      View Details
    • Value Estimation
      $325,000
      4,183 SF

      1915 Dunbarton Dr

      OFFICE BUILDING • 4,183 SF
      1915 Dunbarton Dr, Jackson, MS 39216-5002
      View Details
    • Value Estimation
      $300,000
      6,013 SF

      2093 Lakeland Dr

      OFFICE BUILDING • 6,013 SF
      2093 Lakeland Dr, Jackson, MS 39216-5010
      View Details

    Similar Nearby for Sale

    • $399,000
      6,643 SF

      Fondren District Office Building

      6,643 SF office building in the Fondren District.
      490 E Woodrow Wilson Ave, Jackson, MS 39216
      View Details
    • $395,000
      14,032 SF

      Jackson Office Building For Sale

      10,241 SF office building in Jackson, MS for sale.
      1985 Lakeland Dr, Jackson, MS 39216
      View Details
    • $4,300,000
      16,717 SF

      Trustmark Bank Office Building

      Jackson, MS: Prime Bank Investment
      1887 Lakeland Dr, Jackson, MS 39216
      View Details
    • $285,000
      2,570 SF

      Jackson Medical Office Building

      Vacant, 2570 sq ft, $285,000
      2680 River Ridge Dr, Jackson, MS 39216
      View Details
    • $290,000
      4,144 SF

      Office Space Near Lakeland Drive

      Office property with monument signage and scenic views for sale.
      3 Lakeland Cir, Jackson, MS 39216
      View Details
    • $400,000
      4,200 SF

      Prime Jackson Office/Residential Property

      4,200 SF Office, 100% Occupied, High NOI
      12 Lakeland Cir, Jackson, MS 39216
      View Details

    Similar Nearby for Lease

    • $2,750,000
      16,434 SF

      Two-Story Building with Flex Space

      Two-story building with flex space available for lease or sale.
      1919 Lakeland Dr, Jackson, MS 39216
      View Details
    • $699,000
      4,848 SF

      Renovated Office Building with Visibility

      Renovated office building with modern amenities and high traffic frontage.
      10 Lakeland Cir, Jackson, MS 39216
      View Details
    • $17 SF/Yr
      2,570 SF

      Jackson Medical Office Building

      2,570 SF Vacant Office Space in Jackson, MS
      2680 River Ridge Dr, Jackson, MS 39216
      View Details
    • $6,306 /Mo
      3,153 SF

      Office Space in Convenient Location

      Office spaces available in a highly visible, accessible Jackson location.
      1675 Lakeland Dr, Jackson, MS 39216
      View Details
    • $20 SF/Yr
      1,850 SF

      Flowood Office Space For Rent

      Six-story office building near Highway 25 and I-55.
      2506 Lakeland Dr, Flowood, MS 39216
      View Details
    • $1,650 /Mo
      825 SF

      Office Space in Riverhill Tower

      Conveniently located office spaces with utilities and janitorial included.
      1675 Lakeland Dr, Jackson, MS 39216
      View Details
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    Jackson, MS 39216
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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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