Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1321 Ms-42 Petal, MS 39465

    View on Map
    Sponsored
    For Sale
    $326,700

    Commercial/Business, Unimproved Land - Petal, MS

    Type:Unimproved Land
    Lot size:
    0.75 Acres
    Days on Market:
    47
    Last Refresh:
    Mar 6 at 9:06 pm

    Property Features for 1321 Ms-42

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    Lot size
    0.75 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Mark M. Graham
    Mark M. Graham

    The Executive Team Inc (601) 268-1600

    Listing agent Mark M. Graham (601) 268-1600 License #13527

    Listing date Jan 19, 2026

    MLS# 139175 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Commercial Land in Growing Area

    This 0.75-acre commercial property is located in an area of growth in Petal, Mississippi. The unimproved land is situated just past the high school and adjacent to Tractor Supply. The property would need to be surveyed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Petal
    County
    Forrest
    State
    Mississippi
    Longitude
    -89.191717
    Latitude
    31.351033

    Nearby Similar for Sale

    • $53,000
      220 SF

      Versatile Commercial Property in Petal

      Small business property with flexible space in Petal, Mississippi.
      1886 Old Richton Rd, Petal, MS 39465
      View Details
    • $285,000

      Office/Residential Duplex in Petal, MS

      Unique mixed-use property: office/clinic and renovated apartment.
      221 N Main St, Petal, MS 39465
      View Details
    • $1,500,000

      Leased Shopping Centers For Sale

      Three leased shopping centers available in Petal, Mississippi.
      121 N Front St, Petal, MS
      View Details
    • Contact for pricing
      2,694 SF

      Petal Office For Sale

      Office space for sale with covered parking in Petal.
      212 Mcinnis St, Petal, MS 39465
      View Details
    • Contact for pricing

      Retail Property on Highway 42

      Retail property for sale located on Highway 42.
      1800 Highway 42, Petal, MS 39465
      View Details
    • $250,000
      2,400 SF

      Established Petal Muffler Shop

      Profitable Business, 3+ Acres, Equipment Included
      1130 Main St, Petal, MS 39465
      View Details
    • $180,000

      Prime Petal Office Building

      Exceptional Petal Office - 4 Lots!
      108 Main St, Petal, MS 39465
      View Details
    • $450,000
      2,960 SF

      Petal Office Building - Prime Location

      Versatile Office Space, Excellent Location
      226 Central Ave, Petal, MS 39465
      View Details

    FAQs

    What type of property is this?
    Commercial land - 0.75 acres of commercial land in Petal, Mississippi.
    Where is this commercial land located?
    The property is located at 1321 Ms-42 Petal, MS.
    What is the asking price?
    The asking price for this property is $326,700.
    What are key features of this property?
    This property features: - Prime commercial property location.; - Located in an area with growth potential.; - Adjacent to Tractor Supply.
    (601) 550-4454
    Request Owner's contact information
    1321 Ms-42 Petal, MS 39465
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1321 Ms-42
    Petal, MS 39465
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1321 Ms-42 Petal, MS 39465
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mark M. Graham
    Mark M. Graham
    Real Estate License ID: 13527
    (601) 550-4454 (601) 268-1600
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!