200 East Capitol Building
Office
for Sale
| Catylist Listing ID: |
30837914 |
| Property Subtypes: |
Office Building
|
| Building Size (RSF): |
161,542 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
10,455 SF
|
| Sale Price: |
$2,300,000 |
| Unit Price: |
$14.24 PSF |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
4/19/2024 |
Overview / Comments
The ownership group has selected Corporate Realty, Inc. as its exclusive agent to market the former Regions Building, a historic 18-story building located in the heart of downtown Jackson, MS. The building contains a total of 161,542 rentable square feet of space that is constructed upon a land parcel of approximately 10,455 square feet (0.24 acres). The building is strategically located at the corner of East Capitol and North Lamar streets.
Centrally located in the midst of the Downtown Jackson Business Improvement District, the 200 East Capitol Office Building remains one of the tallest buildings in Jackson. It is registered on the National Register of Historic Places. The concrete-framed structure features a Renaissance Revival architectural style that displays classic details, such as historic windows and brick/marble exteriors, combined with intricate detailing. The building opened as the Merchants Trust and Bank Building in 1929, and, despite experiencing some economic depression in the 1930s, continued to function as a bank until 1957, when it expanded to its current size and configuration (161,542 sf). It was most recently the main office of Regions Bank in Jackson.
|
Additional Details
| Nearest MSA: |
Jackson |
| County: |
Hinds |
| Tax ID/APN: |
85-18 |
| Property Located Between: |
Amite and Pearl streets |
| Property Visibility: |
Excellent |
| Highway Access: |
I-55, US-51, 1-20 |
| Airports: |
JAN |
| Site Description: |
Centrally located in the midst of the Downtown Jackson Business Improvement District on 0.24 acres, this is one of the tallest buildings in Jackson. It is registered on the National Register of Historic Places. The concrete-framed structure features a Renaissance Revival architectural style that displays classic details, such as historic windows and brick/marble exteriors, combined with intricate detailing. The building opened as the Merchants Trust and Bank Building in 1929, and, despite experiencing some economic depression in the 1930s, continued to function as a bank until 1957, when it expanded to its current size and configuration (161,542 sf). It was most recently the main office of Regions Bank in Jackson. |
| Area Description: |
Jackson has approximately eight million (8,000,000) square feet of office space. Roughly one third, or 2,500,000 square feet, is located in this Downtown Office Market, where the 200 East Capitol Building is located.
Overall occupancy in the Downtown Office Market is 70+/- percent. Average rental rates are in the $17.00 - $17.50 range. The office market’s tenant mix is largely governmental, healthcare, and legal sectors. |
| Total Number of Buildings: |
1 |
| Number of Stories: |
18 |
| Year Built: |
1929 |
| Exterior Description: |
Brick and marble facade |
| Passenger Elevators: |
3 |
| Freight Elevators: |
1 |
| Interior Description: |
Everything needs to be verified by purchaser |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
5,174 |
55,026 |
135,926 |
| Median Age: |
35.68 |
32.5 |
32.39 |
| Households: |
2,341 |
20,302 |
49,968 |
|
The information presented herein is provided as is, without warranty of any kind.
Neither Louisiana Commercial Database, LLC nor
Moody's assume any liability for errors or omissions.
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