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

    MS-15 New Albany, MS 38652

    View on Map
    Claim this Listing
    For Sale
    $900,000

    Lot/Land - New Albany, MS

    Type:Single Family Residence
    Lot size:
    39.49 Acres
    Added:
    Jun 5, 2025
    Days on Market:
    309
    Last Refresh:
    Apr 9 at 2:06 pm

    Property Features for MS-15

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    Argiculture / Open Space
    Standard status
    Active
    Lot size
    39.49 Acres

    Taxes and HOA fees

    Tax Annual Amount
    158.95

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Boomer Mize
    Boomer Mize

    Listing agent Boomer Mize License #24370

    Listing office COLDWELL BANKER SOUTHERN REAL ESTATE 3543 Tom Watson Dr., Saltillo, MS 38866, Saltillo, MS

    Listing date Jun 5, 2025

    MLS# 23-1214 Listing URL

    Copyright © 2026 Northeast Mississippi Board 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.

    Overview

    New Albany Land Opportunity

    This property offers nearly 40 acres of land in New Albany, Mississippi. The site is located on Highway 15, a few miles from I-22. The flat and fertile land provides space for development opportunities, including residential subdivisions, commercial complexes, or industrial facilities. The property is zoned for agriculture and open space.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    New Albany
    County
    Union
    State
    Mississippi
    Longitude
    -88.9766
    Latitude
    34.4917

    Nearby Similar for Sale

    • $750,000
      6,960 SF

      New Albany Commercial Property For Sale

      Commercial property with office and shop areas on 1.15 acres.
      919 Sam T Barkley Dr, New Albany, MS 38652
      View Details
    • $444,000

      100 Acres Near New Albany

      100 acres, 31 in row crop, near New Albany.
      County Road 87, New Albany, MS 38652
      View Details
    • $3,300,000
      17,255 SF

      Hamilton Place Mixed-Use Property

      Historical downtown New Albany property with retail and apartments.
      130-132 W Bankhead St., New Albany, MS 38652
      View Details
    • $39,000

      6.3 Acres Vacant Land

      Wooded 6.3 acre tract in Union County, MS.
      0 Hwy 30 East, New Albany, MS 38652
      View Details
    • $250,000

      New Albany Shop on Acreage

      6.20 acres with a large shop in good condition.
      Mississippi 30, New Albany, MS 38652
      View Details
    • $65,000

      3.67 Acres in New Albany

      Land for sale in Union County, Mississippi.
      County Road 94 Lot 3, New Albany, MS 38652
      View Details
    • $75,000

      Residential Lot in Ingomar Community

      Beautiful 2.75-acre building lot ready for construction.
      Cr 94 Lot 10, New Albany, MS 38652
      View Details
    • $78,000

      Residential Land Near Tanglefoot Trail

      5.51 acres near Tanglefoot Trail with utilities available.
      County Road 94 Lot 4, New Albany, MS 38652
      View Details
    • $65,000

      Residential Land in Ingomar Community

      3.63 acre residential lot in New Albany, Mississippi.
      County Road 94 Lot 7, New Albany, MS 38652
      View Details
    • $990,000

      Little Tallahatchie Riverside Retreat

      250 acre farm with river frontage near New Albany.
      01 30, New Albany, MS 38627
      View Details
    • $65,000

      Land in Ingomar Community

      2.49 acre lot ready for building in New Albany.
      CR 90 Lot 12, New Albany, MS 38652
      View Details
    • $250,000

      Commercial Land in High-Traffic Area

      One-acre commercial land parcel in a high-traffic location.
      Coulter Dr/Denton Road, New Albany, MS 38652
      View Details

    FAQs

    What type of property is this?
    Land - Nearly 40 acres in a sought-after New Albany location.
    Where is this land located?
    The property is located at MS-15 New Albany, MS.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: Nearly 40 acres of land in New Albany, Mississippi.; Strategic location on Highway 15.; Close proximity to I‑22.
    (901) 438-1651
    We can help!
    Listing Contact
    Boomer Mize
    Boomer Mize
    Real Estate License ID: 24370
    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!