120 Scarbrough StRichland, MS 39218
- Office properties
- 14,081 SF
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
- Property subtype
- Other 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,211,132
- 6.5%
- $2,041,045
- 7%
- $1,895,256
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,074,111
- Geo Method
- $2,746,640
-
Alternative Use
- Use
- Valuation
- Residential
- $2,530,896
- Hospitality
- $2,318,287
- Educational
- $1,928,788
- Medical
- $1,995,121
- Retail
- $3,000,336
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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