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    Property profile & analytics

    2903 State St Jackson, MS 39216-4202

    • Medical offices
    • 3,013 SF
    • 0.27 lot acres
    OFF-MARKET
    Last Sale
    Sep 14, 2022
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0148055
    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

    • Jackson Women's Health Organization / Women'S Health Clinic / Abortion Clinic
    • Hunt The Shop / Home Goods Store
    • Clinic / Hospital
    • Hunt / Consignment Shop

    Property Details for 2903 State St

    Year built
    1957
    Lot size
    0.27 lot acres
    Property size
    3,013 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    0051 0125 000
    APU
    510125000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $409,000
      Market price range: $188k - $410k

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

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Hinds
    State
    Mississippi
    Longitude
    -90.177
    Latitude
    32.3346
    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
    $7,388
    $10,586
    $21,681
    $32,267
    -
    $70,570
    $144,540
    $215,110

    Comparable in this City

    • Value Estimation
      $250,000
      1,485 SF

      500th E Woodrow Wilson Ave

      MEDICAL CLINIC • 1,485 SF
      500th E Woodrow Wilson Ave, Jackson, MS 39216-4538
      View Details
    • Value Estimation
      $245,000
      1,047 SF

      500th E Woodrow Wilson Ave

      MEDICAL CLINIC • 1,047 SF
      500th E Woodrow Wilson Ave, Jackson, MS 39216-4538
      View Details
    • Value Estimation by Request
      6,376 SF

      882 Lakeland Dr

      MEDICAL CLINIC • 6,376 SF
      882 Lakeland Dr, Jackson, MS 39216-4644
      View Details
    • Value Estimation
      $275,000
      2,424 SF

      3304 State St

      MEDICAL BUILDING • 2,424 SF
      3304 State St, Jackson, MS 39216-3129
      View Details
    • Value Estimation
      $265,000
      2,134 SF

      2630 Ridgewood Rd

      MEDICAL CLINIC • 2,134 SF
      2630 Ridgewood Rd, Jackson, MS 39216-4920
      View Details
    • Value Estimation
      $285,000
      2,051 SF

      500 Woodrow Wilson Ave

      MEDICAL CLINIC • 2,051 SF
      500 Woodrow Wilson Ave, Jackson, MS 39216-4538
      View Details

    Similar Nearby for Sale

    • $285,000
      2,570 SF

      Jackson Medical Office Building

      Vacant, 2570 sq ft, $285,000
      2680 River Ridge 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
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    • $400,000
      4,200 SF

      Prime Jackson Office/Residential Property

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

    Similar Nearby for Lease

    • $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
    • $12 SF/Yr
      12,838 SF

      Lakeward Drive Office Space for Lease

      Jackson, MS Office Building - 7,127 SF Available
      2525 Lakeward Dr, Jackson, MS 39216
      View Details
    • $20 SF/Yr
      53,981 SF

      Fondren Medical Office Building

      Jackson, MS: Prime Medical & Retail Space
      3000 Old Canton Rd, Jackson, MS 39216
      View Details
    • $21 SF/Yr
      7,976 SF

      Medical Space in St. Dominic

      Newly renovated medical space within a hospital campus.
      965-971 Lakeland Dr, Jackson, MS 39216
      View Details
    • $3,675,000
      20,995 SF

      Medical Office Building For Lease

      Well-maintained medical office building in North Jackson.
      1530 Old Canton Rd, 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
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    2903 State St
    Jackson, MS 39216-4202
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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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