225 E Capitol St, Jackson, MS 39201
OFF MARKET

225 E Capitol St
Jackson, MS 39201

State Capitol
  • Studio
Studio

Local Information

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Description

This 208 room, eight story, full service hotel is one of only two existing hotels currently operating in the heart of this downtown Southern Capital City. The Hotel has operated continuously since 1929. A New Convention Center is scheduled to open in downtown in the Spring of 2009 - where are all of these new visitors going to stay - at the other hotel- The expected new owner has an agreement with the current owner to purchase the hotel and intends to be the new majority owner. He is seeking to sell 9 blocks of 5% interest in the hotel at a purchase price of $220,000 each. The purchase price equates to 78 cents on the appraised "as is" dollar. The "bank ordered' March 2008 "as if" appraisal - when stabalized at a 45% occupancy rate - is $8,000,000. The bank holding the mortgage has endorsed the expected new owner's effort to purchase the hotel and so has the bankruptcy judge. Time is of the essence. The expected new owner will personally guarantee a $3,800,000 personal bank note but the judge has ruled that by August 11, 2008 he must raise a minimum of $800,000 for critical repairs, renovations, and operating capital (half the hotel's a/c system is inoperable and the current occupancy rate is only 20% - The Appraisers say the hotel will be stabilized at 45% occupancy - $80 average daily rate) and return a 8.5% Capitalization Rate. The 128,886 sq. ft. hotel and the additional 71,148 sq. ft. parking garage's real property value (at 45% occupancy) is $7,070,000 ($55 per heated & cooled sq. ft.) according to the Appraisers. A draft copy of the March 2008 "bank ordered" appraisal is available as is an interview with the expected new owner.
This property is off market, which means it's not currently listed for sale or rent on Trulia. This may be different from what's available on other websites or public sources.

Home Highlights

Parking
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Outdoor
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HOA
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Price/Sqft
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Listed
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Home Details for 225 E Capitol St

Property Information

Property Type / Style
Property Type: Condo

Price History for 225 E Capitol St

DatePriceEventSource
09/15/2008$1,980,000ListingRemovedAgent Provided
08/04/2008$1,980,000Listed For SaleAgent Provided
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Comparable Sales for 225 E Capitol St

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
35 Eastbrooke St, Jackson, MS
3.21
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03/06/26
2
2.5
2,076
12 Eastbrooke St, Jackson, MS
3.37
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04/01/26
2
2.5
1,873
246 Eastbrooke St, Jackson, MS
3.47
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12/19/25
2
2
1,777
1310 Roxbury Ct #1310-A-1310, Jackson, MS
3.79
Condo
-
06/10/25
3
2
2,617
1200 Meadowbrook Rd #49, Jackson, MS
3.85
Condo
-
02/25/26
2
2.5
2,444
1200 Meadowbrook Rd #18, Jackson, MS
3.85
Condo
-
04/28/26
3
3.5
3,150
1200 Meadowbrook Rd #11, Jackson, MS
3.85
Condo
-
05/23/25
3
3.5
2,781
5025 Wayneland Dr #B3, Jackson, MS
5.26
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-
05/20/25
2
2
1,124
5155 Wayneland Dr #L3, Jackson, MS
5.35
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07/07/25
2
2.5
1,340
5155 Wayneland Dr #C8, Jackson, MS
5.35
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-
10/31/25
1
1
804

Assigned Schools

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Neighborhood Overview

State Capitol
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Neighborhood stats provided by third party data sources.

What Locals Say about State Capitol

At least 4 Trulia users voted on each feature.

  • 88 % Say yards are well-kept

  • 75 % Say car is needed

  • 75 % Say parking is easy

  • 70 % Say there's holiday spirit

  • 57 % Say it's quiet

  • 50 % Say there are sidewalks

  • 50 % Say they plan to stay for at least 5 years

  • 43 % Say it's walkable to restaurants

  • 42 % Say there are community events

  • 36 % Say people would walk alone at night

  • 30 % Say it's dog friendly

  • 27 % Say kids play outside

  • 27 % Say neighbors are friendly

  • 20 % Say streets are well-lit

  • 18 % Say there's wildlife

  • 17 % Say it's walkable to grocery stores

Learn more about our methodology.

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Apartments for Rent

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Homes for sale near 225 E Capitol St

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Homes for rent near 225 E Capitol St

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Off Market Homes Near 225 E Capitol St

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225 E Capitol St, Jackson, MS 39201 is a studio condo. 225 E Capitol St is located in State Capitol, Jackson. This property is not currently available for sale.