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    Property profile & analytics

    2711 Greenway Dr Jackson, MS 39204-3304

    • Retail space
    • 199,976 SF
    • 23.77 lot acres
    OFF-MARKET
    Value Estimations
    $27,185,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0314245
    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

    • Coinstar / Bank / Credit Union
    • FSNB / Bank / Loan Service
    • Walmart Vision & Glasses / Ophthalmologist / (Bike/Boat/Book/etc) Store
    • Walmart Garden Center / Garden Center
    • Mississippi Eye of Jackson / Physician

    Property Details for 2711 Greenway Dr

    Year built
    1997
    Lot size
    23.77 lot acres
    Property size
    199,976 SF
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    0831 0104 000
    APU
    8310104000

    Description

    This exceptional retail opportunity presents 24,073 square feet of space within the Metro Junction community center, situated at 2711 Greenway Dr, Jackson, MS 39204. Built in 2002, the center boasts a strong tenant mix including national brands such as Cato, It's Fashion, Shoe Show, H&R Block, and Check Into Cash. The property offers excellent visibility from MS Highway 18, benefiting from high traffic counts exceeding 34,000 vehicles per day. Currently, 4,626 square feet of space is available, with a minimum divisible unit of 1,602 square feet and a maximum contiguous space of 3,024 square feet. One space of 2,715 square feet is immediately available. The center provides ample parking with a ratio of 5.94 spaces per 1,000 square feet. Its strategic location in Hinds County places it within easy reach of downtown Jackson and Jackson State University, serving a densely populated area. The property's restrictions prohibit internet cafes and tattoo parlors. This is a rare opportunity to secure retail space in a thriving, well-established center with strong co-tenancy and high visibility. The property is conveniently located in a high-traffic area, ensuring maximum exposure for your business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $33,035,000
      6.5%
      $30,495,000
      7%
      $28,315,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $23,876,000
      Market price range: $7.07M - $25.0M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $16,730,000
      Current use
      RESTAURANT
      $22,080,000
      Change: +32% Conversion: Easy
      COMMERCIAL (GENERAL)
      $20,975,000
      Change: +25% Conversion: Easy
      OFFICE BUILDING
      $20,270,000
      Change: +21% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Hinds
    State
    Mississippi
    Longitude
    -90.2683
    Latitude
    32.2885
    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
    $315,066
    $448,689
    $1,189,296
    $1,637,985
    -
    $2,991,260
    $7,928,640
    $10,919,900

    Comparable in this City

    • Value Estimation by Request
      3,848 SF

      824 Gallatin St

      STORE, RETAIL OUTLET • 3,848 SF
      824 Gallatin St, Jackson, MS 39204-3014
      View Details
    • Value Estimation by Request
      3,496 SF

      4520 Mcraven Rd

      STORE, RETAIL OUTLET • 3,496 SF
      4520 Mcraven Rd, Jackson, MS 39204-2031
      View Details
    • Value Estimation by Request
      1,568 SF

      4514 Mcraven Rd

      STORE, RETAIL OUTLET • 1,568 SF
      4514 Mcraven Rd, Jackson, MS 39204-2031
      View Details
    • Value Estimation
      $735,000
      8,783 SF

      165 Wilmington St

      STORE, RETAIL OUTLET • 8,783 SF
      165 Wilmington St, Jackson, MS 39204-5029
      View Details
    • Value Estimation
      $9,110,000
      108,878 SF

      590 Raymond Rd

      STORE, RETAIL OUTLET • 108,878 SF
      590 Raymond Rd, Jackson, MS 39204-3619
      View Details
    • Value Estimation by Request
      1,870 SF

      2410 Terry Rd

      STORE, RETAIL OUTLET • 1,870 SF
      2410 Terry Rd, Jackson, MS 39204-5754
      View Details

    Similar Nearby for Sale

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      Jackson Warehouse: Prime Location

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    • $925,000
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      Hwy 80 & Ellis Ave Commercial Land

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    Similar Nearby for Lease

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      Retail space available for lease in Jackson, MS.
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    • Contact for pricing
      7,500 SF

      Office/Showroom/Warehouse/Distribution Space Available

      7500 SF Office/Warehouse centrally located near I-20 & I-55.
      719 S Gallatin St, Jackson, MS 39204
      View Details
    • $5,250 /Mo

      Distribution Center Near Interstates

      Distribution center with offices, kitchen, dock doors, and parking.
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    • $5 SF/Yr
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      35,900 SF industrial complex with I-20 frontage for lease.
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      View Details
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    2711 Greenway Dr
    Jackson, MS 39204-3304
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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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