123 State StJackson, MS 39201

Property Details for 123 State St

Year built

1982

Lot size

0.09 AC

Property size (Sq ft)

5,044 SF

Property type

Office buildings

APN

0033 0010 000

APU

330010000

Description

This exceptional value-add investment opportunity presents a historic three-story office building located at 123 N State St in the heart of Jackson, Mississippi. Known as "The Lavorn," this mixed-use property boasts a total of 5,044 square feet, currently operating at 50% occupancy. The asking price is $525,000, translating to $104.08 per square foot. The building's traditional office layout offers multiple rooms and/or offices on each of its three floors, providing significant potential for renovation and increased rental income. Situated in Hinds County, zip code 39201, this property presents a unique chance to capitalize on the revitalization of downtown Jackson. The building's prime location and historic character offer a compelling investment proposition for those seeking a value-add project with substantial upside potential. The property's existing infrastructure provides a solid foundation for future improvements and tenant enhancements. This is an excellent opportunity to acquire a significant piece of Jackson's history and contribute to its ongoing growth. Further details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $542,165

  6.5%

  $500,460

  7%

  $464,713

• Comparable approach

  Method

  Valuation

  Relative Method

  $384,761

  Geo Method

  $983,883

• Alternative Use

  Use

  Valuation

  Residential

  $620,570

  Hospitality

  $568,439

  Educational

  $472,935

  Medical

  $489,200

  Retail

  $735,676

Location Insight

City

Jackson

County

Hinds

State

Mississippi

Latitude

32.3

Longitude

-90.1806

CBSA code

27140

CBSA name

JACKSON, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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