1887 Lakeland DrJackson, MS 39216

Property Details for 1887 Lakeland Dr

Year built

1977

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.34 AC

Property size (Sq ft)

17,210 SF

Property type

Office properties

Property subtype

Office buildings

APN

0590 0103 001

APU

5900103001

Description

This exceptional investment opportunity presents a 16,717 square foot, single-tenant executive office building in Jackson, Mississippi. Currently 100% occupied by Trustmark Bank under a gross lease with a remaining term of 2.5 years (expiring June 7, 2027), the property boasts a strong 6.26% cap rate and a substantial NOI of $269,140. Built in 1977 and renovated in 2020, this Class B building sits on a 1.34-acre lot (C-2 zoning) and includes 75 parking spaces. The asking price is $4,300,000, translating to $257.22 per square foot. Lease terms include rent bumps and two options available after the initial three-year lease. The property offers a stable income stream from a credit-rated tenant in a high-traffic commercial location on Lakeland Drive. This fee-simple ownership presents a secure investment in a thriving Southeast market. The property's strategic location and strong tenant history make it an attractive opportunity for investors seeking long-term value and predictable returns. This is a rare chance to acquire a key asset in Jackson's banking infrastructure.

• CAP approach

  CAP return

  Valuation

  6%

  $2,821,162

  6.5%

  $2,604,150

  7%

  $2,418,139

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,312,794

  Geo Method

  $3,356,982

• Alternative Use

  Use

  Valuation

  Residential

  $3,229,146

  Hospitality

  $2,957,880

  Educational

  $2,460,922

  Medical

  $2,545,557

  Retail

  $3,828,100

Location Insight

City

Jackson

County

Hinds

State

Mississippi

Latitude

32.3328

Longitude

-90.1379

CBSA code

27140

CBSA name

JACKSON, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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