120 Scarbrough StRichland, MS 39218

Property Details for 120 Scarbrough St

Year built

1993

Lot size

0.97 AC

Property size (Sq ft)

14,081 SF

Property type

Office properties

APN

D06K000022 00010

APU

D06K00002200010

Description

This Class A, 12,885-square-foot medical office building in Richland, Mississippi, presents a unique owner-user opportunity. Located at the prominent intersection of Scarbrough Street and US 49, this single-story building sits on a 2.09-acre lot and boasts a completely renovated interior and exterior. Improvements include a new roof, paint, carpeting, flooring, lighting, and HVAC system. The parking and drive areas feature new asphalt and striping. The building is fully sprinklered. The interior comprises 8,577 square feet of built-out medical offices, including individual exam rooms, x-ray rooms, conference rooms, multiple nurses' stations, medical records rooms, and a spacious waiting area. A new medical lease is in place for this section. Additionally, there are 3,073 square feet of professional office/retail space with a new lease, and a 1,205-square-foot retail space currently leased to a dental tenant. The asking price is $1,795,000, translating to $139.31 per square foot. This property offers a compelling investment for medical professionals or investors seeking a high-quality, turnkey medical facility in a thriving Mississippi market. The building's prime location and recent renovations ensure strong potential for long-term growth and profitability.

• CAP approach

  CAP return

  Valuation

  6%

  $2,505,950

  6.5%

  $2,313,180

  7%

  $2,147,960

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,074,110

  Geo Method

  $2,746,640

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,545,960

  Retail / Commercial

  $2,332,740

  Mixed-Use / Specialty

  $2,325,690

  Hospitality / Lodging

  $1,707,920

  Institutional / Educational

  $2,418,230

  Residential Income

  $2,829,330

  Multifamily

  $3,386,350

  Automotive / Energy

  $2,072,770

  Parking / Income-Based Land

  $714,041

  Restaurant / Food Service

  $1,212,300

  Healthcare / Senior Housing

  $2,383,660

Location Insight

City

Richland

County

Rankin

State

Mississippi

Latitude

32.2145

Longitude

-90.1541

CBSA code

27140

CBSA name

JACKSON, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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