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    Hattiesburg Commercial Property For Sale Title is generated by Realmo AI

    307 3rd Ave., Hattiesburg, MS 39401

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    For Sale
    $105,000

    Business Service,Medical,Office,Professional Service,Retail - Business

    Type:Business
    Property size:
    750 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $140/SF
    Added:
    Apr 16, 2026
    Days on Market:
    47
    Last Refresh:
    Jun 1 at 3:06 pm

    Property Features for 307 3rd Ave.

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Zoning
    B-1
    Bedrooms
    1
    Rooms
    Bedroom 1
    Interior features
    Reception Area
    Standard status
    Active
    Size
    750 SF
    Lot size
    0.05 Acres

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Electric

    Building Details

    Flooring type
    Tile, Vinyl
    Building materials
    Other, See Remarks
    Roof type
    Asphalt, Shingle, Wood
    Architectural style
    Other

    We can help!

    Listing Contact
    Chad Cranford

    Listing agent Chad Cranford License #B-20252

    Listing office Cranford & Company 11 Woodstone Plaza Suite A, Hattiesburg, MS 39402, Hattiesburg, MS

    Listing date Apr 16, 2026

    MLS# 146712 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 near USM, downtown, and Hardy Street offering high visibility and accessibility.
    • Versatile +/-750 SF space suitable for office or retail use.
    • Functional layout with two private offices, reception area, storage, and restroom.
    • Recent updates including fresh paint and modern lighting, ensuring a move‑in ready condition.
    • Three on‑site parking spaces providing convenience.
    • Located in a steadily developing area with long‑term investment potential.

    Overview

    Located at 307 3rd Ave in Hattiesburg, this commercial property offers approximately 750 square feet of space, suitable for office or retail use. The property is zoned B-1 and is situated on a 35x60 lot. The building's layout includes two private offices, a reception area, a storage room, and one restroom. Recent updates within the past two years include fresh paint and modern lighting. There are three on-site parking spaces available. The property is located minutes from USM and downtown, directly off Hardy Street. It is suitable for medical, legal, insurance, boutique retail, or small business operations. The property is positioned in a steadily developing area, making it an attractive option for investors and owner-occupants alike.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $10.8k $14.40
    − Vacancy −$2.4k −$3.17
    EGI $8.4k $11.23
    − OpEx −$2.1k −$2.81
    NOI $6.3k $8.42
    750 SF · lease $14.40/SF/yr · vacancy 22.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $90.3K
    $79.0K – $105.3K (±1% cap)
    NOI $6,318 @ 7.0% cap · market cap 6.02%
    Second Best
    Retail
    $82.4K
    $72.1K – $96.1K (±1% cap)
    NOI $5,765 @ 7.0% cap · market cap 5.49%
    Theoretical Best
    Office A
    $123.4K
    $108.0K – $144.0K (±1% cap)
    NOI $8,640 @ 7.0% cap · market cap 8.23%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    billy peebles Law Firm Voltaire Electrolysis and Esthetics Hair Salon

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Hattiesburg
    County
    Forrest
    State
    Mississippi
    Longitude
    -89.297664
    Latitude
    31.323368

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    FAQs

    What type of property is this?
    Office units - Versatile 750 SF commercial property ideal for office or retail.
    Where is this office units located?
    The property is located at 307 3rd Ave. Hattiesburg, MS.
    What is the asking price?
    The asking price for this property is $105,000.
    What are key features of this property?
    This property features: Prime location near USM, downtown, and Hardy Street offering high visibility and accessibility.; Versatile +/-750 SF space suitable for office or retail use.; Functional layout with two private offices, reception area, storage, and restroom.
    (601) 450-1020
    We can help!
    Listing Contact
    Chad Cranford
    Real Estate License ID: B-20252
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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
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