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    Property profile & analytics

    2909 Oak Forest Dr Jackson, MS 39212

    • Schools
    • 44,451 SF
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0631103
    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

    • Marshall Elementary School / High School

    Property Details for 2909 Oak Forest Dr

    Property size
    44,451 SF
    Property type
    Schools

    Description

    This exceptional 44,451-square-foot single-story building presents a unique redevelopment opportunity. Formerly Marshall Elementary School within the Jackson Public Schools system, this property is now available as part of the JPS Repurposing Initiative. This initiative actively promotes the reuse and redevelopment of surplus school sites, aiming to transform underutilized properties into valuable community assets. Located at 2909 Oak Forest Dr, Jackson, MS 39212, in Hinds County, this property offers significant potential for adaptive reuse. The building's substantial size and single-story design provide flexibility for a variety of potential projects. Its location within Jackson offers access to established infrastructure and a growing community. The JPS Repurposing Initiative's focus on redevelopment ensures a supportive environment for innovative projects that contribute to the city's growth and prosperity. This is an unparalleled chance to acquire a large-scale property with a rich history and a bright future, perfectly positioned for a transformative project that will benefit the Jackson community. The property is ready for its next chapter, offering a blank canvas for creative vision and entrepreneurial spirit. Serious inquiries are encouraged to explore the possibilities this unique property offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Hinds
    State
    Mississippi
    Longitude
    -90.2478129
    Latitude
    32.2641461

    Comparable in this City

    • Contact for pricing
      28,700 SF

      Jackson School Redevelopment Opportunity

      28,700 SF Single-Story School Building
      330 Judy St, Jackson, MS 39212
      View Details
    • Contact for pricing
      48,049 SF

      Sykes Elementary: Redevelopment Opportunity

      Jackson, MS school; 48,049 SF; redevelopment potential.
      3555 Simpson St, Jackson, MS 39212
      View Details
    • $49,000
      1,888 SF

      Commercial Property with Endless Potential

      Versatile commercial property suitable for retail, office, or event space.
      4517 Terry Rd, Jackson, MS 39212
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    • $69,000
      601 SF

      Commercial Building in High-Visibility Location

      Commercial building with barber/salon tenant and auto detailing business.
      270 Maddox Rd, Jackson, MS 39212
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    • $349,900
      95.00 Acres

      Raymond Road Acreage with Airstrip

      95+/- acres with creek, ponds, airstrip, and workshop.
      Raymond Rd, Jackson, MS 39212
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    • $220,000
      2,600 SF

      Jackson Office & Warehouse Space

      Prime Location, Versatile Commercial Property
      240 Maddox Rd, Jackson, MS 39212
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      28,700 SF

      Jackson School Redevelopment Opportunity

      28,700 SF Single-Story School Building
      330 Judy St, Jackson, MS 39212
      View Details
    • Contact for pricing
      48,049 SF

      Sykes Elementary: Redevelopment Opportunity

      Jackson, MS school; 48,049 SF; redevelopment potential.
      3555 Simpson St, Jackson, MS 39212
      View Details
    • $49,000
      1,888 SF

      Commercial Property with Endless Potential

      Versatile commercial property suitable for retail, office, or event space.
      4517 Terry Rd, Jackson, MS 39212
      View Details
    • $69,000
      601 SF

      Commercial Building in High-Visibility Location

      Commercial building with barber/salon tenant and auto detailing business.
      270 Maddox Rd, Jackson, MS 39212
      View Details
    • $349,900
      95.00 Acres

      Raymond Road Acreage with Airstrip

      95+/- acres with creek, ponds, airstrip, and workshop.
      Raymond Rd, Jackson, MS 39212
      View Details
    • $900,000

      Residential Land Investment Opportunity

      16 acres for 37 lots with development plans.
      4801 Old Byram Rd, Jackson, MS 39212
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      14,740 SF

      Jackson Retail Center Investment Opportunity

      High-traffic retail & warehouse space in Jackson, MS
      4611 Terry Rd, Jackson, MS 39212
      View Details
    • $8 SF/Yr
      26,516 SF

      Retail Space in Kroger Anchored Center

      26,516 SF retail space in Jackson, Mississippi available for lease.
      4910 Highway Dr N, Jackson, MS 39212
      View Details
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    2909 Oak Forest Dr
    Jackson, MS 39212
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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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