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%.

If you are interested in an income-producing commercial real estate property, give Billy Carpenter or Henry Mosco a call today.

Features

Location:

• 504 N Chrisman Avenue Cleveland, MS 38751
• Bolivar County

Coordinates:

• 33.7464, -90.71877

Tax Information:

• 2024 – $11,070.84
• Parcel #: 33-21-030-20-00100

Property Use:

• Investment
• Storage

Property Information:

• 0.68± Acre Lot
• 15,093± SqFt Commercial Building
• 8,000± SqFt Leased Through July 2029
• 7,093±SqFt Storage Space
• 18,000± SqFt Paved Parking Area
• Offices, Breakroom, Conference Room, File Room
• New Roof in 2024
• Remodeled in 2012