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    1975 Ms-178 Myrtle, MS 38650

    View on Map
    Sponsored
    For Sale
    $5,200,000

    LAND - Myrtle, MS

    Lot size:
    800.00 Acres
    Days on Market:
    148
    Last Refresh:
    Mar 6 at 2:06 pm

    Property Features for 1975 Ms-178

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    027r0600103,027r0600102,027r0500300,10840310000270
    Lot size
    800.00 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well
    Water front
    1

    We can help!

    Listing Contact
    Fargason F Erb

    Burch Realty Group, LLC (662) 893-1700

    Listing agent Fargason F Erb (662) 893-1700 License #S-48724

    Listing date Oct 10, 2025

    MLS# 4127127

    Copyright © 2026 MLS United. 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

    Myrtle Estate with Lake

    This 800+/- acre estate is located in Union and Benton County, MS, accessed through a gated entrance. The property includes wooded acreage with open fields surrounding a 55-acre watershed lake constructed in the late 1960s. Miles of internal trails provide access throughout the land. The property is suited for outdoor activities, with deer, turkey, seasonal waterfowl, and bass fishing. A covered floating boat dock and fish house are located on the lake. The property features a custom home overlooking the lake, constructed in 2014. The 4,000 sqft home includes 3 bedrooms and 3 bathrooms, featuring 2 master bedrooms, custom hardwood flooring, cabinetry, crown molding, and 2 gas and/or wood burning fireplaces. The custom chefs kitchen includes Thermador appliances with gas range. Additional features include a professional audio/visual system with surround sound, steam shower, outdoor porch and entertainment area with remote control roll up screening, a three-car garage, workshop, library and/or offices, Generac generator, professional landscaping with irrigation system, and home security. A 2-bedroom, 1-bath wood cabin, equipment shed, barn, and walk-in coolers are also situated on the property. There are approximately 30 acres of agricultural fields. The property adjoins 400+/- landlocked acres to Holly Springs National Forest on 3 sides. The property is located in Myrtle, MS, 10 miles from historic downtown New Albany, 40 miles from Oxford, and within 1 hour from Tupelo and Memphis.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Myrtle
    County
    Union
    State
    Mississippi
    Longitude
    -89.131147
    Latitude
    34.593255

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    FAQs

    What type of property is this?
    Farm - 800-acre estate with custom home and 55-acre lake.
    Where is this farm located?
    The property is located at 1975 Ms-178 Myrtle, MS.
    What is the asking price?
    The asking price for this property is $5,200,000.
    What are key features of this property?
    This property features: - 800-acre estate featuring a 55-acre lake and access to 400 acres of Holly Springs National Forest.; - Custom 4,000 sqft home built in 2014 with high-end finishes overlooking the lake.; - Enjoy the covered floating boat dock, fish house, porch with remote-controlled screening, and professional landscaping.
    (901) 277-9055
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    1975 Ms-178 Myrtle, MS 38650
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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.

    More about this property
    1975 Ms-178 Myrtle, MS 38650
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    We can help!
    Listing Contact
    Fargason F Erb
    Real Estate License ID: S-48724
    (901) 277-9055 (662) 893-1700
    Learn more
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