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    Turnkey Wedding and Event Venue Title is generated by Realmo AI

    234 Rutledge Rd., Lumberton, MS 39455

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    For Sale
    $1,450,000

    Food Service,Other - See Remarks, Business - Lumberton, MS

    Type:Business
    Property size:
    10,323 SF
    Lot size:
    11.00 Acres
    Price / SF:
    $140/SF
    Added:
    Mar 27, 2026
    Days on Market:
    48
    Last Refresh:
    May 13 at 10:06 pm

    Property Features for 234 Rutledge Rd.

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Bedrooms
    7
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Interior features
    Reception Area
    Standard status
    Active
    Size
    10,323 SF
    Lot size
    11.00 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Building materials
    Brick, Brick Veneer, Other, See Remarks
    Architectural style
    Other

    We can help!

    Listing Contact
    Stacey Byrd
    Stacey Byrd

    Listing agent Stacey Byrd License #S-28859

    Listing office Vines Realty & Land 2516 Old Hwy 24 Ste E, Hattiesburg, MS 39402, Hattiesburg, MS, MS

    Listing date Mar 27, 2026

    MLS# 146428 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

    • Turnkey wedding/event venue with established business potential.
    • App. 7,200 sq ft main venue features a reception area, bridal suite, catering room, and restrooms.
    • Multiple ceremony locations, landscaped water feature with waterfall, and photo backdrops create stunning settings.
    • Separate building with commercial, health department‑approved kitchen and storage.
    • Updated main residence for on‑site living or guest lodging, plus a groom's cottage with swimming pool access.
    • 30x40 workshop with half bath, RV hookups, irrigation, electrical outlets, and water access on 11 acres.

    Overview

    Located 30 miles south of Hattiesburg, MS, this family-owned venue is designed for weddings and special occasions. The main venue building offers approximately 7,200 square feet, featuring a reception area, bridal suite with a prep room, separate restrooms, a private bathroom, and a catering room. Outdoor decks are accessible via a serving window attached to the kitchen. The property includes multiple ceremony locations and backdrops, including a ceremony wall and a landscaped water feature with a waterfall. A separate building houses a commercial health department-approved kitchen and storage area. The groom's cottage, suitable for guest lodging, is located near the swimming pool. The main residence has been updated for on-site living or guest lodging. A 30x40 workshop with a half bath and RV hookups are also included. The property features irrigation, electrical outlets, and water access across its 11 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wedding venues

    Suggested Use

    HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Lumberton
    County
    Lamar
    State
    Mississippi
    Longitude
    -89.401164
    Latitude
    31.068358

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    FAQs

    What type of property is this?
    Wedding venue - Family-owned venue with lodging, commercial kitchen, and multiple ceremony locations.
    Where is this wedding venue located?
    The property is located at 234 Rutledge Rd. Lumberton, MS.
    What is the asking price?
    The asking price for this property is $1,450,000.
    What are key features of this property?
    This property features: Turnkey wedding/event venue with established business potential.; App. 7,200 sq ft main venue **features a reception area, bridal suite, catering room, and restrooms.**; **Multiple ceremony locations, landscaped water feature with waterfall, and photo backdrops create stunning settings.**
    (601) 261-3236
    We can help!
    Listing Contact
    Stacey Byrd
    Stacey Byrd
    Real Estate License ID: S-28859
    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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