Building Details

Year built 2016

Floors in Building 1

Listing Agency: TM REALTORS t***@tmhomes.com Show Phone

Listed By: Joyce R Hogan · License #S-56999 Show Phone

Added: Oct 5 Last Checked: Oct 7 at 3:06AM

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MLS# 26-3723

Copyright © 2026 Northeast Mississippi Board 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.

Built in 2016, this flex property combines 5,000 square feet of office and warehouse space on a 2-acre parcel. The office area contains four offices and a reception area, while the warehouse provides additional loft storage. A bathroom with a shower serves the building, and the yard is fenced and partly covered.

The property is located at 1587 Road 814 in Plantersville, Mississippi. Sale and lease options are indicated.

Key Highlights

• 5,000‑square‑foot office and warehouse property
• Four offices and a reception area
• Fenced yard with partial coverage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,924

Cap Rate

8.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$618,480 $618.5K

Cap Rate 7%

$441,771 $441.8K

Cap Rate 9%

$343,600 $343.6K

Market Conditions

NOI Build-Up for 5,000 SF

Gross rent

$47.4K $9.48/SF

− Vacancy

−$3.2K −$0.64/SF

EGI

$44.2K $8.84/SF

− OpEx

−$13.3K −$2.65/SF

NOI

$30.9K $6.18/SF

Area

Lee County, MS

Vacancy

6.80%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$618,480

Cap Rate 7%

$441,771

Cap Rate 9%

$343,600

Alternative Uses

Best Use

Flex RnD

$562.6K

$492.3K – $656.4K (±1% cap)

NOI $39,382 @ 7.0% cap · market cap 11.25%

Second Best

Warehouse

$536.4K

$469.4K – $625.8K (±1% cap)

NOI $37,550 @ 7.0% cap · market cap 10.73%

Theoretical Best

Office A

$939.0K

$821.6K – $1.10M (±1% cap)

NOI $65,731 @ 7.0% cap · market cap 18.78%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

SPATCO Energy Solutions Industrial Manufacturer

Suggested Use

Top Pick Electrical Service Auto Parts Store Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

7

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 38862, MS

2,271

Population

1,091

Households

2.1

Avg Household Size

46

Median Age

30%

College-Educated

84%

High-School Grad

29.8 sq mi

ZIP Area

76

Density / Sq Mi

$51,688

Median Household Income

$41,543

Median Earnings

$841

Median Rent

$136,900

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - A flexible work property pairs administrative offices with warehouse space and a partly sheltered yard.

Where is this flex space located?

The property is located at 1587 Road 814 Plantersville, MS.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: 5,000‑square‑foot office and warehouse property; Four offices and a reception area; Fenced yard with partial coverage