Add Listing
    For Sale
    • 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

    Gracies Way lot 21 Lucedale, MS 39452

    View on Map
    Claim this Listing
    For Sale
    $54,048

    LAND - Lucedale, MS

    Type:Single Family Residence
    Lot size:
    1.56 Acres
    Added:
    Apr 23, 2021
    Days on Market:
    1814
    Last Refresh:
    Apr 10 at 8:06 am

    Property Features for Gracies Way lot 21

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active
    Lot size
    1.56 Acres

    Taxes and HOA fees

    Tax Year
    2020
    Tax Description
    Lot 21 Live Oak Ridge Subdivision
    Tax Annual Amount
    1

    Utilities

    Utilities
    Electricity Available
    Water front
    1

    We can help!

    Listing Contact
    Russell Evans
    Russell Evans

    Listing agent Russell Evans License #B19770

    Listing office R Evans Realty, LLC 2210 Mill St. Ext. STE F, Lucedale, MS

    Listing date Apr 23, 2021

    MLS# 3374178

    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

    Lucedale, MS Lakefront Lots

    These lakefront lots are located in a new subdivision on Highway 63. Restrictive covenants are in place to maintain the aesthetic appeal and value within the subdivision. The majority of the lots are situated on the water, offering views. The available lots vary in size and view. One of the available lots is 1.56 acres.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Lucedale
    County
    George
    State
    Mississippi
    Longitude
    -88.5703
    Latitude
    30.8443

    Nearby Similar for Sale

    • $539,000
      4,050 SF

      Lucedale Commercial Building with Warehouse

      4050 SF commercial building with office and warehouse space.
      38 Susanne Street, Lucedale, MS 39452
      View Details
    • $525,000
      252,648 SF

      Lucedale, MS Development Opportunity

      5.8-acre cleared tract ideal for apartments, retail, or mixed-use.
      18125 W Highway 26, Lucedale, MS 39452
      View Details
    • $799,000
      12,000 SF

      Updated Skating Rink Near Lucedale

      Renovated skating rink with arcade, lounge, and expansion potential.
      6238 Ms-198, Lucedale, MS 39452
      View Details
    • $110,000

      Lucedale Land with Pond

      8.26 acres of land featuring mature timber and pond.
      6201 Wesley Powell Road, Lucedale, MS 39452
      View Details
    • $34,900

      Lucedale Land with RV Setup

      Two lots with RV barn and utilities in Cedar Creek.
      196 Cedar Creek Road, Lucedale, MS 39452
      View Details
    • $319,000
      1,600 SF

      Lucedale Home with Workshop

      Three-bedroom home with workshop and additional dwelling unit.
      6902 Tanner Williams Road, Lucedale, MS 39452
      View Details
    • $129,000

      Lucedale Land For Sale

      3 acres with highway frontage near industrial park.
      3ac Highway 198, Lucedale, MS 39452
      View Details
    • $428,000

      Lucedale, MS Land Opportunity

      10+ acre parcel with highway access near Lucedale.
      10 Ac Hwy 63, Lucedale, MS 39452
      View Details
    • $550,000

      Lucedale Commercial Land For Sale

      Commercial land available next to Walmart in Lucedale, Mississippi.
      Old Highway 63 S Parcel 3, Lucedale, MS 39452
      View Details
    • $450,000

      Commercial Land Next to Walmart

      Commercial land for sale in high-traffic Lucedale location.
      Old Highway 63 S Parcel 2, Lucedale, MS 39452
      View Details
    • $159,000

      Lucedale Commercial Land For Sale

      2.2 acres of commercial land in Lucedale, Mississippi.
      2.2 Acres Hwy 613, Lucedale, MS 39452
      View Details
    • $406,050

      Lucedale Land For Sale

      27 acre former cattle operation in Lucedale, Mississippi.
      27 Ac Old Highway 63, Lucedale, MS 39452
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Lakefront lots in a new subdivision on Highway 63.
    Where is this residential land & home lot located?
    The property is located at Gracies Way lot 21 Lucedale, MS.
    What is the asking price?
    The asking price for this property is $54,048.
    What are key features of this property?
    This property features: Lakefront lots available.; Located in a new, upscale subdivision.; Restrictive covenants to maintain property value and aesthetics.
    (601) 508-7877
    We can help!
    Listing Contact
    Russell Evans
    Russell Evans
    Real Estate License ID: B19770
    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!