Former Gas Station
For Sale
Under Contract
$329,000
1301 Carterville Rd, Petal, MS 39465
Commercial Sale, Petal, MS
Property Size2,300 SF
Price / SF$143.04
Days on Market144
Property Features for 1301 Carterville Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Lot features
Corner Lot
Subdivision
Petal
Standard status
Active Under Contract
Taxes and HOA fees
Tax Year
2025
Tax Description
See delta 2 parcels PPIN - 027854 and 028922
Tax Annual Amount
2358
Legal Description
See delta 2 parcels PPIN - 027854 and 028922
Utilities
Utilities
Electricity Available
Heating system
Central
Cooling system
Central Air
Building Details
Flooring type
Tile, Concrete
Building materials
Brick Veneer, Steel Siding
Listing Agency:
RE/MAX Real Estate Partners · RE/MAX International
(601) 296-2001
Listed By:
Kristen Dickinson · License #S-56163
(601) 543-7927
Added: Apr 15
Changed: Sep 3
Last Checked: Sep 5 at 3:06PM
MLS# 146709
Copyright © 2026 Hattiesburg Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,300-square-foot commercial building at 1301 Carterville Rd in Petal, Mississippi, was formerly used as a gas station. The underground tanks and fuel pumps have been removed. Construction includes brick veneer and steel siding, with tile and concrete flooring throughout the existing improvements. Central heating and central air are in place, and electricity is available. The property also includes a bathroom. The building is described as suitable for retail, office, automotive, or service-oriented use, subject to applicable requirements.
Key Highlights
- 2,300‑square‑foot commercial building
- Former gas station with underground tanks and fuel pumps removed
- Brick veneer and steel siding construction
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,857
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$477,140
$477.1K
Cap Rate 7%
$340,814
$340.8K
Cap Rate 9%
$265,078
$265.1K
Market Conditions
NOI Build-Up for 2,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.5K $15.00/SF
− Vacancy
−$2.7K −$1.17/SF
EGI
$31.8K $13.83/SF
− OpEx
−$8.0K −$3.46/SF
NOI
$23.9K $10.37/SF
Area
Forrest County, MS
Vacancy
7.80%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$477,140
Cap Rate 7%
$340,814
Cap Rate 9%
$265,078
Alternative Uses
Best Use
Specialty Retail
$340.8K
$298.2K – $397.6K
NOI $23,857 @ 7.0% cap · market cap 7.25%
Second Best
Retail
$252.5K
$221.0K – $294.6K
NOI $17,678 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$378.5K
$331.2K – $441.6K
NOI $26,496 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
4,652 visits/mo
0.1 miles
Demographics for 39465, MS
23,002
Population
8,854
Households
2.6
Avg Household Size
37
Median Age
25%
College-Educated
91%
High-School Grad
122.7 sq mi
ZIP Area
187
Density / Sq Mi
$73,785
Median Household Income
$40,465
Median Earnings
$921
Median Rent
$166,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - Brick-and-steel commercial building with central heating, central air, tile, and concrete flooring.
Where is this gas station located?
The property is located at 1301 Carterville Rd Petal, MS.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 2,300‑square‑foot commercial building; Former gas station with underground tanks and fuel pumps removed; Brick veneer and steel siding construction
