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    Property profile & analytics

    3002 Ml St Jackson, MS 39216-3825

    • Warehouses
    • 11,925 SF
    • 6.19 lot acres
    OFF-MARKET
    Value Estimations
    $930,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0239947
    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

    • The Yurtkuran Law Firm / Law Firm
    • Electric Works / Electrical Service / General Contractor
    • Mississippi Modern, Inc. / Theater & Performing Art Venue

    Property Details for 3002 Ml St

    Year built
    1965
    Construction
    TYPE NOT SPECIFIED
    Lot size
    6.19 lot acres
    Property size
    11,925 SF
    Property type
    Warehouses
    APN
    0056 0032 000
    APU
    560032000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,080,000
      6.5%
      $995,000
      7%
      $925,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $862,000
      Market price range: $368k - $862k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $585,000
      Current use
      RESTAURANT
      $1,355,000
      Change: +132% Conversion: Difficult
      MEDICAL BUILDING
      $1,295,000
      Change: +122% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,055,000
      Change: +80% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,010,000
      Change: +73% Conversion: Easy
      RETAIL STORES
      $920,000
      Change: +57% Conversion: Moderate
      OFFICE BUILDING
      $730,000
      Change: +25% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Hinds
    State
    Mississippi
    Longitude
    -90.1832
    Latitude
    32.3363
    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
    $17,703
    $18,132
    $73,905
    $92,037
    -
    $120,880
    $492,700
    $613,580

    Comparable in this City

    • Value Estimation
      $505,000
      18,340 SF

      2666 Ml St

      WAREHOUSE, STORAGE • 18,340 SF
      2666 Ml St, Jackson, MS 39216-4406
      View Details
    • Value Estimation
      $565,000
      11,535 SF

      3209 St

      WAREHOUSE, STORAGE • 11,535 SF
      3209 St, Jackson, MS 39216-3854
      View Details
    • Value Estimation
      $1,505,000
      19,330 SF

      2715 State St

      WAREHOUSE, STORAGE • 19,330 SF
      2715 State St, Jackson, MS 39216-4311
      View Details
    • Value Estimation by Request
      7,509 SF

      145 Lorenz Blvd

      WAREHOUSE, STORAGE • 7,509 SF
      145 Lorenz Blvd, Jackson, MS 39216-3816
      View Details
    • Value Estimation by Request
      5,466 SF

      2900 Ml St

      WAREHOUSE, STORAGE • 5,466 SF
      2900 Ml St, Jackson, MS 39216
      View Details
    • Value Estimation
      $850,000
      43,271 SF

      2920 Ml St

      MANUFACTURING (LIGHT) • 43,271 SF
      2920 Ml St, Jackson, MS 39216
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      21,000 SF

      Jackson Industrial Property: 21,000 SF

      Two-building flex space, ideal owner-user.
      145 Lorenz Blvd, Jackson, MS 39216
      View Details
    • $325,000
      4,400 SF

      Jackson Retail & Industrial Property

      4,400 SF Multi-Use Building, $325K
      500D Woodrow Wilson Ave, Jackson, MS 39216
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    • $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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    • Contact for pricing

      Income-Producing Duplex with Recent Upgrades

      Updated duplex in Fondren area, ideal for investors or homeowners.
      207-209 Dunbar St, Jackson, MS 39216
      View Details
    • $187,300
      2,976 SF

      Jackson Commercial Building Investment

      Prime Fondren-area commercial property.
      3417 West St, 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

    Similar Nearby for Lease

    • Contact for pricing
      4,310 SF

      Flowood Office Space For Rent

      First floor office space with private offices and conference room.
      3900 Lakeland Dr, Flowood, MS 39216
      View Details
    • Contact for pricing
      22,400 SF

      Retail Space in Flowood

      Retail property available for lease in Flowood, Mississippi.
      2323 Lakeland Dr, Flowood, 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
    • $8,940 /Mo
      4,126 SF

      Fondren Retail/Restaurant Opportunity

      Prime location in Jackson's vibrant Fondren District.
      3000 Old Canton Rd Lot, Jackson, 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
    • $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
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    3002 Ml St
    Jackson, MS 39216-3825
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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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