Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2903 State St Jackson, MS 39216-4202
    Back to Search
    Property profile & analytics

    2903 State St, Jackson, MS 39216-4202

    View on Map
    • Medical Office Space
    • 3,013 SF
    • 0.27 lot acres
    Off-Market
    Last Sale Sep 14, 2022
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Jackson Women's Health Organization / Medical Clinic
    • Hunt The Shop / Home Decor Store / Department Store
    • Clinic / Hospital
    • Hunt / Discount Store / (Bike/Boat/Book/etc) Store

    Property Details for 2903 State St

    Year built
    1957
    Lot size
    0.27 lot acres
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    0051 0125 000
    APU
    510125000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 13, 2022 — Michael J Peters — Deed · related $496k · Guaranty Bank & Trust
    Sep 14, 2022 — Micahel J Peters 2 Docs And Ad LLC Warranty Deed —
    Jun 14, 2010 — 2 Docs & Ad LLC Owner Name Unavailable Grant Deed · related —
    Apr 6, 2000 — Y & S Realty INC — Warranty Deed · related —
    Apr 3, 2000 — Owner Name Unavailable — Warranty Deed · related —

    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
    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 by Request
      1,485 SF

      500th E Woodrow Wilson Ave

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

      500th E Woodrow Wilson Ave

      MEDICAL CLINIC
      500th E Woodrow Wilson Ave, Jackson, MS 39216-4538
      View Details
    • Value Estimation
      $690,000
      6,376 SF

      882 Lakeland Dr

      MEDICAL CLINIC
      882 Lakeland Dr, Jackson, MS 39216-4644
      View Details
    • Value Estimation by Request
      2,424 SF

      3304 State St

      MEDICAL BUILDING
      3304 State St, Jackson, MS 39216-3129
      View Details
    • Value Estimation by Request
      1,344 SF

      1855 Crane Rdg Dr

      MEDICAL CLINIC
      1855 Crane Rdg Dr, Jackson, MS 39216-4944
      View Details
    • Value Estimation by Request
      2,134 SF

      2630 Ridgewood Rd

      MEDICAL CLINIC
      2630 Ridgewood Rd, Jackson, MS 39216-4920
      View Details

    Similar Nearby for Sale

    • $59,500
      2,145 SF

      Commercial Space Near UMMC

      First-floor commercial space suitable for office or medical use.
      500 E Woodrow Wilson Ave, Jackson, MS 39216
      View Details
    • Contact for pricing
      21,000 SF

      Industrial Property in Fondren District

      Industrial property with office/shop and warehouse in up-and-coming district.
      145 Lorenz Blvd, Jackson, MS 39216
      View Details
    • Contact for pricing
      20,128 SF

      Versatile Building on Lakeland Drive

      Office or retail building with open floorplan and warehouse space.
      1995 Lakeland Dr, Jackson, MS 39216
      View Details
    • Contact for pricing
      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
    • $78,500

      Residential Land for Sale

      Residential land available in Jackson, Mississippi.
      200 Ridge Dr, Jackson, MS 39216
      View Details
    • Contact for pricing
      16,717 SF

      Trustmark Bank Prime Investment Property

      Prime Trustmark Bank property on Lakeland Drive, Jackson, MS.
      1887 Lakeland Dr, 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
    • $4,870 /Mo
      2,541 SF

      Renovated Office Space in Fondren

      Versatile commercial space in a vibrant, accessible Jackson location.
      3000 Old Canton Rd Lot, Jackson, MS 39216
      View Details
    • Contact for pricing

      Renovated Commercial Building in Fondren

      Versatile space in a vibrant, accessible Jackson neighborhood.
      3000 Old Canton Rd, Jackson, MS 39216
      View Details
    • Contact for pricing

      Lakeland Drive Office/Medical Space

      Office or medical space tucked off Lakeland Drive.
      2525 Lakeward Dr, Jackson, MS 39216
      View Details
    • Contact for pricing
      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
    • Contact for pricing
      1,404 SF

      Fondren District Commercial/Retail Space

      Commercial/retail space in the Fondren District with ample parking.
      2752 N State St, Jackson, MS 39216
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2903 State St
    Jackson, MS 39216-4202
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2903 State St, Jackson, MS, 39216
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!