120 Scarbrough StRichland, MS 39218

  • Office properties
  • 14,081 SF
For Sale
$1,795,000 View listing

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
120 Scarbrough St, Richland, Mississippi

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

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
2019
$17,597
-
-
$170,971
-
$169,010
$970,790
$1,139,800

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