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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    305 W Market St Greenwood, MS 38930

    • Investment properties
    • 24,255 SF
    For Sale
    View listing
    $1,150,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-1166970
    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

    • Investment properties

    Property Details for 305 W Market St

    Year built
    1920
    Property size
    24,255 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    8510032500100
    APU
    8510032500100

    Description

    This exceptional 24,255 square foot commercial building sits on a 0.35-acre lot in Greenwood, Mississippi's historic district, directly across from the courthouse. The well-preserved early 20th-century structure boasts classic architectural details, including a grand yet understated brick facade and large windows that flood the interior with natural light. Its prime downtown location offers unparalleled convenience, with proximity to restaurants, banks, and professional offices, contributing to the area's revitalization efforts. The building's versatility allows for a blend of commercial and residential uses. The ground floor is ideal for retail spaces such as boutiques, restaurants, or cafes, while the upper floors are perfect for conversion into luxury apartments, capitalizing on high ceilings and the potential for modern amenities. This unique opportunity presents a chance to combine historic charm with contemporary living. The property is eligible for historic tax credits, significantly reducing renovation costs while preserving its architectural integrity. To ensure continued vibrancy, the owner will lease back a portion of the building for their attorney offices, guaranteeing a thriving presence within Greenwood's historic fabric. This mixed-use development promises to be a cornerstone of the community's ongoing growth and development, offering a compelling investment opportunity in a desirable location. The asking price for this landmark property is $1,150,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $540,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,252,000
      Market price range: $1.25M - $3.61M

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenwood
    County
    Leflore
    State
    Mississippi
    Longitude
    -90.184
    Latitude
    33.5199
    CBSA code
    24900
    CBSA name
    GREENWOOD, 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
    $7,824
    $10,243
    $34,356
    $44,599
    -
    $68,288
    $229,041
    $297,329

    Comparable in this City

    • Value Estimation by Request
      7,036 SF

      3204 Baldwin Rd

      STORE/OFFICE (MIXED USE) • 7,036 SF
      3204 Baldwin Rd, Greenwood, MS 38930-5059
      View Details
    • Value Estimation by Request
      2,240 SF

      62901 Hwy 82nd W

      STORE/OFFICE (MIXED USE) • 2,240 SF
      62901 Hwy 82nd W, Greenwood, MS 38930-5072
      View Details
    • Value Estimation
      $585,000
      7,204 SF

      313 Howard St

      STORE/OFFICE (MIXED USE) • 7,204 SF
      313 Howard St, Greenwood, MS 38930-4335
      View Details
    • Value Estimation
      $4,950,000
      100,000 SF

      Greenwood, MS 38930

      STORE/OFFICE (MIXED USE) • 100,000 SF
      Greenwood, MS 38930
      View Details
    • Value Estimation by Request
      5,556 SF

      Greenwood, MS 38930

      STORE/OFFICE (MIXED USE) • 5,556 SF
      Greenwood, MS 38930
      View Details
    • Value Estimation
      $515,000
      5,469 SF

      1515 Lasalle St

      STORE/OFFICE (MIXED USE) • 5,469 SF
      1515 Lasalle St, Greenwood, MS 38930-2760
      View Details

    Similar Nearby for Sale

    • $1,150,000
      24,255 SF

      Historic Greenwood Building For Sale

      Historic mixed-use building in downtown Greenwood, MS.
      305 W Market St, Greenwood, MS 38930
      View Details
    • $300,000
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      Downtown Greenwood Mixed-Use Building

      Two-story commercial building with retail and residential spaces.
      220 Howard St, Greenwood, MS 38930
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    • $635,000
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      Downtown Greenwood Commercial Gem

      Historic building, renovated, 6,975 sq ft
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    • $1,259,259
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      Pizza Hut Net Lease Investment

      Mississippi Restaurant, Strong ROI
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    • Contact for pricing
      1.10 Acres

      Vacant Commercial Lot Greenwood, MS

      Vacant commercial lot in a C-1 Neighborhood Zoning District.
      1901 Carrollton Ave, Greenwood, MS 38930
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    • $635,000

      Renovated Historic Greenwood Restaurant Building

      Completely renovated restaurant and bar/event space in historic downtown.
      222 Howard St, Greenwood, MS 38930
      View Details

    Similar Nearby for Lease

    • $1,300 /Mo
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      Greenwood, MS Retail/Office Space

      High-visibility commercial space in Greenwood, MS with flexible build-out options.
      100 E Claiborne Ave, Greenwood, MS 38930
      View Details
    • $750 /Mo
      1,103 SF

      High-Visibility Office Space Available

      Prime office space in Greenwood, MS with flexible build-out.
      102 E Claiborne Ave, Greenwood, MS 38930
      View Details
    • $2,273 /Mo
      1,564 SF

      Greenwood Medical Complex Office Space

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      View Details
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    305 W Market St
    Greenwood, MS 38930
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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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