Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    341 Wheeler Road Hernando, MS 38632

    View on Map
    Picture of Strip malls at 341 Wheeler Road, Hernando, MS
    For Lease
    $18 SF/Yr

    COMMERCIAL - Hernando, MS

    Property size:
    1,800 SF
    Lot size:
    7.20 Acres
    Added:
    Sep 4, 2025
    Days on Market:
    215
    Last Refresh:
    Apr 6 at 11:06 pm

    Property Features for 341 Wheeler Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    APN
    4086130000000200
    Size
    1,800 SF
    Lot size
    7.20 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    PT NW1/4 NE1/4
    Tax Annual Amount
    4055

    Building Details

    Year built
    2023

    We can help!

    Listing Contact
    Alexis L McNabb
    Alexis L McNabb

    Listing agent Alexis L McNabb License #S-52389

    Listing office Kaizen Realty 975 Swinnea Ridge, Germantown, MS

    Listing date Sep 4, 2025

    MLS# 4124585

    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.

    Overview

    Hernando Commercial Space For Lease

    This 1,800 square foot commercial bay is available for lease. The property is located in a strip plaza connected to a gas station on high-traffic Hwy 51 in Hernando, Mississippi. The location offers visibility and customer flow, suitable for retail, office, or service-oriented businesses. The property is situated in Hernando, one of the fastest-growing towns in North Mississippi, offering demographics, access, and a customer base from the adjoining gas station and surrounding residential communities. The property benefits from shared parking and signage along the highway. The lot size is 7.2 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Auto Repair Shop Bakery

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

    Location Insight

    • Map
    • Local Demand
    City
    Hernando
    County
    DeSoto
    State
    Mississippi
    Longitude
    -89.998802
    Latitude
    34.74271

    Nearby Similar for Lease

    • Contact for pricing

      Retail Space Near Interstate 55

      Retail space available in Hernando, Mississippi, near I-55.
      2631 McIngvale Road, Hernando, MS 38632
      View Details
    • Contact for pricing

      Retail Space Near Interstate 55

      Retail space available near Interstate 55 in Hernando, Mississippi.
      12 East Commerce St, Hernando, MS 38632
      View Details
    • Contact for pricing

      Retail Center in Hernando, Mississippi

      Retail spaces available for lease in new shopping center.
      McIngvale Rd and Monteith Ave, Hernando, MS 38632
      View Details
    • Contact for pricing

      Customizable Flex Space Near I-55

      6,000 +/- SF customizable space near I-55 interchange.
      1177 Nesbit Dr, Hernando, MS 38651
      View Details
    • $11/mo

      Modern Office Space Available

      Efficient office spaces with utilities included and ample parking.
      2018 Mcingvale Rd, Hernando, MS
      View Details
    • $20/mo

      Hernando Medical Office Space

      Medical office space in the heart of Hernando.
      124 W Commerce St, Hernando, MS
      View Details
    • $21/mo

      Hernando Office Space For Rent

      Office space available in Hernando, Mississippi, approximately 1,050 square feet.
      2575 Caffey St, Hernando, MS
      View Details
    • Contact for pricing

      Hernando Shopping Center For Rent

      70,957 SF shopping center located off Interstate 55.
      2631 McIngvale Rd, Hernando, MS 38632
      View Details
    • Contact for pricing

      Retail Spaces in New Development

      Retail spaces for lease in Hernando, Mississippi.
      McIngvale Rd & Monteith Ave, Hernando, MS 38632
      View Details
    • Contact for pricing

      Executive Office Suites on Square

      Professional office suites in historic Hernando Square available for rent.
      2555 Caffey St, Hernando, MS 38632
      View Details

    FAQs

    What type of property is this?
    Strip mall - 1,800 SF commercial bay on Hwy 51, Hernando, MS.
    Where is this strip mall located?
    The property is located at 341 Wheeler Road Hernando, MS.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: High‑traffic location on Hwy 51 with excellent visibility.; Located in Hernando, one of the fastest‑growing towns in North Mississippi.; **1,800 SF commercial bay suitable for retail, office, or service businesses.**
    (901) 238-1205
    We can help!
    Listing Contact
    Alexis L McNabb
    Alexis L McNabb
    Real Estate License ID: S-52389
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!