Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Lot on Sunset Drive Title is generated by Realmo AI

    1331 Sunset Drive, Grenada, MS 38901

    View on Map
    Claim this Listing
    For Sale
    $998,000

    COMMERCIAL - GRENADA, MS

    Property size:
    1,728 SF
    Lot size:
    2.15 Acres
    Price / SF:
    $577/SF
    Added:
    Oct 2, 2025
    Days on Market:
    246
    Last Refresh:
    Jun 4 at 10:06 am

    Property Features for 1331 Sunset Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    1,728 SF
    Lot size
    2.15 Acres

    Building Details

    Year built
    1979

    We can help!

    Listing Contact
    Molly Hawkins
    Molly Hawkins

    Listing agent Molly Hawkins License #22895

    Listing office Landhawk Realty 428 Hwy 6 E Box #262, Batesville, MS

    Listing date Oct 2, 2025

    MLS# 161797

    Copyright © 2026 North Central Mississippi Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑traffic corner lot on Sunset Drive, ideal for commercial ventures.
    • Over 2 acres zoned B‑3 (Heavy Commercial) offering endless business opportunities.
    • Excellent frontage: Over 300 feet on Sunset Drive and nearly as much on Jefferson Trail.
    • Located just 1 mile east of I‑55, providing easy access.
    • Includes a 1728 sq ft freestanding building previously leased to a restaurant.
    • Over an acre of concrete and 3 separate entrances.

    Overview

    This commercial corner lot, situated on heavily trafficked Sunset Drive, spans over 2 acres and is located 1 mile east of I-55. Zoned B-3, Heavy Commercial, the property offers various business opportunities. It features over 300 feet of frontage on Sunset Drive and nearly as much on Jefferson Trail, providing space for multiple businesses. The property includes a freestanding 1728 square foot building that was previously leased to Yamato Steak House of Japan. The lot has over an acre of concrete, three separate entrances, and a row of trees buffering the back of the property. This high-traffic corner property has been surveyed.
    Property Profile Location Intelligence

    Current Use by Public Records

    Yamato Steak House ... Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grenada
    County
    Grenada
    State
    Mississippi
    Longitude
    -89.8268359
    Latitude
    33.7782915

    Nearby Similar for Sale

    • $220,000
      6,040 SF

      Versatile Commercial Building on 2.58 Acres

      6,040 sq ft building near Highway 51 and Interstate 55.
      180 Highway 7, Grenada, MS 38901
      View Details
    • $220,000
      6,040 SF

      Grenada Commercial Property with Storage

      Versatile commercial property with warehouse and storage potential.
      180 Highway 7, GRENADA, MS 38901
      View Details
    • $599,000
      13,000 SF

      Turnkey Family Entertainment Venue

      Premier family entertainment center with dual-venue income streams.
      3440 Commerce Street, Grenada, MS 38901
      View Details
    • $420,000

      Prime Vacant Commercial Land

      18.1 acre commercial tract with high visibility and frontage.
      11555 Hwy 51 N, Grenada, MS 38901
      View Details
    • $420,000

      Grenada Commercial Land For Sale

      18.1 acre commercial tract with high visibility and access.
      11555 Hwy 51 N, Grenada, MS 38901
      View Details
    • $85,000
      1,603 SF

      Industrial Building in Grenada, MS

      Industrial building, framed, plumbed, with A/C on 0.23 acres.
      2001 Highway 332, Grenada, MS 38901
      View Details
    • $1,999,000
      7,000 SF

      Grenada Lake Commercial Corner Property

      Prime commercial property near Grenada Lake with multiple income streams.
      197 Scenic Loop 333, Grenada, MS 38901
      View Details
    • $56,072

      Grenada County Home Site Land

      7.009 acre home site near Grenada, Mississippi.
      60 Nelia Road, Grenada, MS 38901
      View Details
    • $515,000

      Prime Land in Grenada, MS

      2.4-acre lot with high visibility and easy access.
      100 Rodrich Avenue, Grenada, MS 38901
      View Details
    • $131,538

      Grenada County Home Site Land

      21.923 acre home site near Grenada with utilities.
      50 Nelia Road, Grenada, MS 38901
      View Details
    • $99,000

      Grenada Vacant Land with Home

      6.5-acre tract with mature trees and restoration potential.
      2264 Long Street, Grenada, MS 38901
      View Details
    • $36,000

      6.6 Acres of Vacant Land

      Unrestricted 6.6-acre parcel near Grenada, MS, suitable for various uses.
      1181 Salem Church Road, Grenada, MS 38901
      View Details

    FAQs

    What type of property is this?
    Storefront property - Commercial corner lot with high traffic and business opportunities.
    Where is this storefront property located?
    The property is located at 1331 Sunset Drive Grenada, MS.
    What is the asking price?
    The asking price for this property is $998,000.
    What are key features of this property?
    This property features: High‑traffic corner lot on Sunset Drive, ideal for commercial ventures.; Over 2 acres zoned B‑3 (Heavy Commercial) offering endless business opportunities.; Excellent frontage: Over 300 feet on Sunset Drive and nearly as much on Jefferson Trail.
    (662) 609-8455
    We can help!
    Listing Contact
    Molly Hawkins
    Molly Hawkins
    Real Estate License ID: 22895
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1331 Sunset Drive, GRENADA, MS 38901
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!