504 North Chrisman Avenue , Cleveland, MS 38732(Bolivar County)

Commercial Building on 0.68 Acres in Bolivar County, MS

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 us a call today.