501 State StJackson, MS 39201

Property Details for 501 State St

Year built

1985

Construction

WOOD

Lot size

0.32 AC

Property size (Sq ft)

2,585 SF

Property type

Office properties

Property subtype

Office buildings

APN

0187 0016 000

APU

1870016000

Description

This exceptional 2,545-square-foot office building is situated at the corner of State and Court Streets in the heart of Jackson, Mississippi. The single-story, Class B property, built in 1985, sits on a 0.32-acre lot and offers convenient access to the interstate, courthouse, post office, federal buildings, restaurants, and shops. The building boasts 100% occupancy with a single tenant. Ample parking is provided with twenty spaces, eight in a front lot and twelve additional spaces in a gated rear lot. The interior layout includes three large offices, a welcoming reception area, a comfortable waiting room, two bathrooms, a convenient break room, and a spacious conference room. The property is zoned for office use and features a single unit within a single building. This is a fantastic opportunity to acquire a well-located, established office building in a thriving downtown area. The asking price is $425,000. The Hinds County APN is 187-16.

• CAP approach

  CAP return

  Valuation

  6%

  $277,854

  6.5%

  $256,481

  7%

  $238,161

• Comparable approach

  Method

  Valuation

  Relative Method

  $197,186

  Geo Method

  $504,230

• Alternative Use

  Use

  Valuation

  Residential

  $318,036

  Hospitality

  $291,319

  Educational

  $242,374

  Medical

  $250,710

  Retail

  $377,027

Location Insight

City

Jackson

County

Hinds

State

Mississippi

Latitude

32.2948

Longitude

-90.1817

CBSA code

27140

CBSA name

JACKSON, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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