Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    302 23rd S Ave Meridian, MS 39301-6033

    • Office buildings
    • 1,755 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0525519
    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

    • Pink Nellie Llc / General Contractor

    Property Details for 302 23rd S Ave

    Year built
    1920
    Lot size
    0.16 lot acres
    Property size
    1,755 SF
    Property type
    Office buildings
    APN
    84184392000301100
    APU
    84184392000301100

    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
    Meridian
    County
    Lauderdale
    State
    Mississippi
    Longitude
    -88.6971
    Latitude
    32.359
    CBSA code
    32940
    CBSA name
    MERIDIAN, MS MICROPOLITAN 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
    $1,267
    $0.00
    $0.00
    $7,131
    -
    $14,660
    $32,880
    $47,540

    Comparable in this City

    • Value Estimation by Request
      13,200 SF

      409 Frnt St Ext

      OFFICE BUILDING • 13,200 SF
      409 Frnt St Ext, Meridian, MS 39301-4502
      View Details
    • Value Estimation by Request
      546 SF

      1700 20th Ave

      OFFICE BUILDING • 546 SF
      1700 20th Ave, Meridian, MS 39301-3215
      View Details
    • Value Estimation by Request
      3,339 SF

      2011 23rd Ave

      OFFICE BUILDING • 3,339 SF
      2011 23rd Ave, Meridian, MS 39301-3110
      View Details
    • Value Estimation by Request
      3,190 SF

      2308 25th St

      OFFICE BUILDING • 3,190 SF
      2308 25th St, Meridian, MS 39301-2123
      View Details
    • Value Estimation by Request
      400 SF

      1481 Hwy 19th S

      OFFICE BUILDING • 400 SF
      1481 Hwy 19th S, Meridian, MS 39301-8257
      View Details
    • Value Estimation by Request
      22,088 SF

      2128 Hwy 39th N

      OFFICE BUILDING • 22,088 SF
      2128 Hwy 39th N, Meridian, MS 39301-2723
      View Details

    Similar Nearby for Sale

    • $1,350,000
      32,852 SF

      Meridian Office Building Investment

      Historic Meridian office building, 32,852 SF.
      814 22Nd Ave, Meridian, MS 39301
      View Details
    • $475,000
      900 SF

      Downtown Meridian Medical Office

      Prime Medical Office Building & Lot
      1204 Constitution Ave, Meridian, MS 39301
      View Details
    • $475,000

      Meridian Commercial Property For Sale

      Commercial property with ground floor retail and office space.
      1312 22Nd Avenue Hts, Meridian, MS 39301
      View Details
    • Contact for pricing
      0.26 Acres

      Meridian Commercial Building For Sale

      Commercial building in Meridian, MS, suitable for various business types.
      4717 8Th Street Ext, Meridian, MS 39301
      View Details
    • $400,000

      Meridian MS Commercial Land Development

      20+ Acres, Prime Commercial Location, Highway Access
      000 Us-80, Meridian, MS 39301
      View Details
    • $110,500

      Meridian Commercial Building - $110,500

      Prime Meridian location, 5400 sq ft, ample parking.
      1313 B St, Meridian, MS 39301
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      7,958 SF

      Meridian Retail Space Sublease Opportunity

      Prime 7,958 SF retail space, former Family Dollar.
      2107 24 avenue, Meridian, MS 39301
      View Details
    • Contact for pricing

      Sellers Drive Office Space For Sale

      Prime Lauderdale Office with Warehouse Potential
      2518 Sellers Dr, Meridian, MS 39301
      View Details
    • Contact for pricing
      70,117 SF

      Eastgate Plaza: Prime Retail Space

      Fully Leased Retail Center, Lauderdale County
      2014 Highway 45, Meridian, MS 39301
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Highway 45

      Retail space available in Meridian, Mississippi, on Highway 45.
      2014-2018 Highway 45 N, Meridian, MS 39301
      View Details
    • $28 SF/Yr
      13,631 SF

      300 Frontage Rd

      Retail properties • 13,631 SF
      300 Frontage Rd, Meridian, MS 39301
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Meridian, MS

      Retail space available for lease in Meridian, Mississippi.
      103 S Frontage Rd, Meridian, MS 39301
      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.
    302 23rd S Ave
    Meridian, MS 39301-6033
    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

    Google sign-in failed. Please try again or use another login method.