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    The Largest CRE Database in the US with Over 1 Million Listings

    2704 Ms-15 Laurel, MS 39440

    Sponsored
    For Sale
    $775,000

    Auto Service,Building/Supplies,Business Service,Office,Retail,Warehouse,Wholesale - Business

    Type:Business
    Property size:
    26,060 SF
    Days on Market:
    1
    Last Refresh:
    Feb 4 at 11:06 pm

    Property Features for 2704 Ms-15

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Standard status
    Active
    Rooms
    Bedroom 1, Bedroom 2
    Bedrooms
    2
    Interior features
    Add'l Building, Security Fenced
    Size
    26,060 SF

    Utilities

    Heating system
    Central, Forced Air
    Cooling system
    Central Air, Other (Cooling)

    Building Details

    Flooring type
    Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    G Lee Boyette, SRS

    Woodland Realty Inc (601) 319-7325

    Listing agent G Lee Boyette, SRS (601) 649-9402 License #16901

    Listing date Feb 4, 2026

    MLS# 145717 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.

    Learn more

    Overview

    Commercial Buildings Near Car Dealers

    Two commercial buildings are available, situated between two car dealerships and across from a Kubota tractor dealer. The front building offers 19,460 square feet and is ready for interior design. The rear building provides 6,420 square feet and features multiple bays and storage areas. The front building has a new SPF roof and insulation with a 20-year warranty. Significant drainage improvements have been made at the Nissan boundary. The property has MDOT approval for the driveway, new Dixie Elec transformers, and DE link internet. Updated sewer and water infrastructure are in place. Previously used as an automobile dealership and a retail tire company, the buildings are suitable for auto service, building/supplies, business service, office, retail, warehouse, or wholesale businesses. None of the buildings are located in a FEMA flood zone. Approximately 1.4 acres on the North side of the site are located in a flood zone.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Similar Places Nearby

    U-Haul Neighborhood Dealer, U-Haul Neighborhood Dealer, U-Haul Neighborhood Dealer, U-Haul Neighborhood Dealer, U-Save Car & Truck Rental - Laurel

    Map

    City
    Laurel
    County
    Jones
    State
    Mississippi
    Longitude
    -89.14922
    Latitude
    31.7237

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    FAQs

    What type of property is this?
    Automotive property - Two commercial buildings totaling 26,060 SF near car dealerships.
    Where is this automotive property located?
    The property is located at 2704 Ms-15 Laurel, MS.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: - Two commercial buildings totaling 25,880 sq. ft. ready for various uses.; - New SPF roof and insulation on front building with a 20-year warranty.; - Updated sewer and water infrastructure.
    (601) 649-9402
    Request Owner's contact information
    2704 Ms-15 Laurel, MS 39440
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    Laurel, MS 39440
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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
    2704 Ms-15 Laurel, MS 39440
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    We can help!
    Listing Contact
    G Lee Boyette, SRS
    Real Estate License ID: 16901
    (601) 649-9402
    Learn more
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