504 N Chrisman Avenue Active Save Request In-Person Tour Request Virtual Tour
Cleveland,MS 38732
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 15,093 sqft
Price per Sqft $62
MLS Listing ID 4102320
Year Built 1974
Annual Tax Amount $11,071
Lot Size 0.640 Acres
Property Sub-Type Office
Property Description
IF YOU ARE A COMMERCIAL INVESTOR LOOKING TO EXPAND YOUR PORTFOLIO, CHECK OUT THIS 15,093± SQUARE FOOT COMMERCIAL BUILDING IN BOLIVAR COUNTY, MS. The building is located at 504 North Chrisman Avenue in downtown Cleveland and is occupied by the Mississippi Division of Medicaid. A new five-year lease was signed on August 1, 2024, and it expires July 31, 2029. In 2012, an 8,000± square foot portion underwent a renovation to meet the needs of the current tenant. The remaining space is currently being used as storage by the owner but could be renovated and leased to a second tenant. The paved parking lot, which offers 18,000± square feet, was recently re-striped. This offering is ideal for an investor seeking low risk, low management, and a capitalization rate of approximately 9.2%.
Location
State MS
County Bolivar
Interior
Heating Central
Cooling Central Air
Flooring Tile
Exterior
Parking Features Asphalt/Blacktop
Utilities Available Cable Available,Electricity Connected,Natural Gas Available,Phone Available,Sewer Connected,Water Connected
Building
Lot Description City Lot,Level
Sewer Public Sewer
Water Public
New Construction No