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

    602 State St Jackson, MS 39201-5611

    • Commercial real estate
    • 2,098 SF
    • 0.42 lot acres
    OFF-MARKET
    Last Sale
    Apr 21, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0061350
    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

    • Shell / Gas Station
    • Vape store / Gas Station
    • State st gas and food / Gas Station

    Property Details for 602 State St

    Year built
    1986
    Lot size
    0.42 lot acres
    Property size
    2,098 SF
    Property type
    Commercial real estate
    APN
    0195 0001 000
    APU
    1950001000

    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
    -90.181
    Latitude
    32.2936
    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
    $9,049
    $28,800
    $18,242
    $47,042
    -
    $192,000
    $121,610
    $313,610

    Comparable in this City

    • Value Estimation
      $3,605,000
      49,175 SF

      815 State St

      COMMERCIAL (GENERAL) • 49,175 SF
      815 State St, Jackson, MS 39201-5908
      View Details
    • Value Estimation
      $535,000
      7,200 SF

      123 Griffith St

      COMMERCIAL (GENERAL) • 7,200 SF
      123 Griffith St, Jackson, MS 39201
      View Details
    • Value Estimation
      $860,000
      28,865 SF

      200 Commerce St

      COMMERCIAL (GENERAL) • 28,865 SF
      200 Commerce St, Jackson, MS 39201-4420
      View Details
    • Value Estimation by Request
      2,436 SF

      1677 Gallatin St

      COMMERCIAL (GENERAL) • 2,436 SF
      1677 Gallatin St, Jackson, MS 39201-6406
      View Details
    • Value Estimation
      $515,000
      5,600 SF

      113 President St

      COMMERCIAL (GENERAL) • 5,600 SF
      113 President St, Jackson, MS 39201
      View Details
    • Value Estimation by Request
      1.25 Acres

      West St

      Land • 1.25 Acres
      0 West St, Jackson, MS 39201
      View Details

    Similar Nearby for Sale

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      Hwy 80 Commercial Land - Jackson, MS

      1.86 Acres, High-Traffic Retail Opportunity
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    • Contact for pricing
      1.15 Acres

      Jackson Industrial Land - 1.15 Acres

      Prime Jackson industrial land, 22,930 sq ft, owner-user opportunity.
      317 Rankin St, Jackson, MS 39201
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    • $250,000

      Redevelopment Opportunity on J R Lynch

      Land suitable for redevelopment into single-family, mixed-use, retail.
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    • New
      Contact for pricing
      1.25 Acres

      Industrial Land Near Downtown Jackson

      1.25 acre industrial land near Downtown Jackson, Mississippi.
      West St, Jackson, MS 39201
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    • $1,301,500
      68,500 SF

      Two-Story Office/Warehouse Building For Sale

      Two-story office/warehouse building encompassing one city block.
      815 State St, Jackson, MS 39201
      View Details
    • $1,140,432

      Lakeland Drive Commercial Land

      Prime commercial land for sale on Lakeland Drive.
      Cypress Cv N Layfair, Flowood, MS 39201
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    Similar Nearby for Lease

    • $18 SF/Yr
      95,061 SF

      Heritage Building: Jackson Office Space

      Historic Downtown Jackson Office Suites, 10 Spaces Available
      401 Capitol St, Jackson, MS 39201
      View Details
    • $17 SF/Yr
      1,292 SF

      Office Space Available For Lease

      Office space for lease featuring full service lease terms.
      329 E Capitol St, Jackson, MS 39201
      View Details
    • $600,000
      20,000 SF

      Secure Warehouse in Central District

      Warehouse with remodeled offices, dock doors, and fenced storage.
      925 Wholesale Row, Jackson, MS 39201
      View Details
    • Contact for pricing
      5,876 SF

      Flowood Retail Opportunity For Rent

      Retail property with drive-thru and outdoor patio available for lease.
      200 Ridge Way, Flowood, MS 39201
      View Details
    • Contact for pricing
      5,879 SF

      Retail Space in Flowood, MS

      Retail space available in a large shopping center.
      310-384 Ridge Way, Flowood, MS 39201
      View Details
    • $12 SF/Yr
      2,361 SF

      Office Space Available For Rent

      Office space available for lease in Jackson, MS.
      736 S President St, Jackson, MS 39201
      View Details
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    602 State St
    Jackson, MS 39201-5611
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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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