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    Hattiesburg Office Plaza For Sale Title is generated by Realmo AI

    17 Plaza Dr., Hattiesburg, MS 39402

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    For Sale
    $699,500

    Business Service,Office,Professional Service, Business - Hattiesburg, MS

    Type:Business
    Property size:
    5,805 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $120/SF
    Added:
    Sep 30, 2025
    Days on Market:
    231
    Last Refresh:
    May 18 at 11:06 am

    Property Features for 17 Plaza Dr.

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Bedrooms
    4
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Interior features
    Reception Area
    Standard status
    Active
    Size
    5,805 SF
    Lot size
    1.00 Acre

    Building Details

    Flooring type
    Carpet, Laminate
    Building materials
    Brick, Brick Veneer
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    JAMES STROO
    JAMES STROO

    Listing agent JAMES STROO License #14852

    Listing office Realty Executives The Executive Team 118 Lamar Blvd, Hattiesburg, MS 39402, Hattiesburg, MS

    Listing date Sep 30, 2025

    MLS# 144350 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.

    HighLights

    • Prime location in the center of the Hattiesburg office/retail district.
    • Easy access to Hwy 98 West (3 blocks) and I‑59 (4 blocks).
    • Includes 16 private offices, a bullpen office, conference room, and multiple lobby areas.
    • Spacious lot size of almost one acre with potential for additional parking.
    • Existing 26 parking spaces.
    • Option to purchase existing office furniture.

    Overview

    This office plaza is situated in the center of the Hattiesburg office and retail district, approximately three blocks from Highway 98 West and four blocks from Interstate 59. The building contains 16 private offices, a bullpen office with six spaces, a conference room, two lobby areas, a kitchen, and four bathrooms. The property is in good condition. The lot size is almost one acre, with 26 parking spaces currently available. There is room to add more parking spaces if needed. The site currently serves as the Grand Bank Mortgage Center, which will be relocating upon completion of construction at a new location. The building has 5,805 square feet of space and is suitable for business, office, or professional services.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grand Bank Mortgage ... Loan Service Denetria Gamble, Mortgage ... Loan Service Shakita Lofton Loan Service Goldin Patricia Insurance Agency

    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
    Hattiesburg
    County
    Forrest
    State
    Mississippi
    Longitude
    -89.354635
    Latitude
    31.328207

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    FAQs

    What type of property is this?
    Office building - Office plaza in the heart of Hattiesburg's office/retail district.
    Where is this office building located?
    The property is located at 17 Plaza Dr. Hattiesburg, MS.
    What is the asking price?
    The asking price for this property is $699,500.
    What are key features of this property?
    This property features: Prime location in the center of the Hattiesburg office/retail district.; Easy access to Hwy 98 West (3 blocks) and I‑59 (4 blocks).; Includes **16 private offices, a bullpen office, conference room, and multiple lobby areas.**
    (601) 408-8717
    We can help!
    Listing Contact
    JAMES STROO
    JAMES STROO
    Real Estate License ID: 14852
    Learn More
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    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.

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