Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Flowood Industrial Park Lease Opportunity Title is generated by Realmo AI

    1001 Underwood Dr, Flowood, MS 39232

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Warehouse/distribution/manufacturing space in renovated industrial park with rail access.

    Type:INDUSTRIAL
    Property size:
    39,500 SF
    Lot size:
    13.61 Acres
    Added:
    Jan 4, 2024
    Days on Market:
    864
    Last Refresh:
    Apr 5 at 8:21 pm

    Property Features for 1001 Underwood Dr

    General Information

    Standard status
    Active
    Size
    39,500 SF
    Lot size
    13.61 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 1001 Underwood Dr Contact us

    We can help!

    Listing Contact
    Sam Cox
    Sam Cox

    Listing agent Sam Cox

    Listing office Pinpoint Commercial Real Estate, LLC

    Listing date Jan 4, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Pinpoint Commercial Real Estate, LLC

    HighLights

    • Excellent location: Minutes from Hwy 80, I‑20, I‑55, and the International Airport.
    • Ideal for warehousing/distribution/manufacturing.
    • Located in a robust submarket of the Jackson MSA.
    • Features renovated buildings.
    • Located in Underwood Industrial Park.
    • Active rail spur.

    Overview

    Located just off Flowood Drive and minutes from Hwy 80, I-20, I-55 and the International Airport, 1001 Underwood Drive is available for lease. Situated in Underwood Industrial Park, this property offers an opportunity for warehousing, distribution, and manufacturing businesses. The property, with a size of 39500 square feet, is located in one of the more robust submarkets in the Jackson MSA. The park features renovated buildings and an active rail spur.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Real Estate Agency Law Firm Dental Office Auto Repair Shop Building Supply Department Store Grocery & Convenience Store Big Box & Wholesale Store Garden Center Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Flowood
    County
    Rankin
    State
    Mississippi
    Longitude
    -90.1304
    Latitude
    32.3071

    Nearby Similar for Lease

    • $17,611/Mo
      9,606 SF

      Flowood Office Building For Lease

      Highly visible office building with ample parking in Flowood, MS.
      2508 Lakeland Drive lot: 100, Flowood, MS 39232
      View Details
    • $2,700/Mo
      1,800 SF

      Flowood Office Space Available

      Functional office space in Flowood, ideal for various professional uses.
      148 Daughdrill Station, Flowood, MS 39232
      View Details
    • $800/Mo
      160 SF

      Flowood Office Space For Rent

      Office spaces with shared amenities in central Flowood location.
      781 Liberty Road lot: 7, Flowood, MS 39232
      View Details
    • $940/Mo
      188 SF

      Flowood Office Space For Rent

      Office spaces with shared amenities in central Flowood location.
      781 Liberty Road lot: 6, Flowood, MS 39232
      View Details
    • Sponsored
      $129-$6,796/Mo
      11-1,292 SF

      Market Street

      232 Market St, Unit Flowood, Flowood, MS 39232
      View Details
    • $24 SF/Yr
      7,671 SF

      Professional Office Suite For Lease

      Move-in ready office suite in Flowood's thriving professional district.
      110 Belle Meade Pt, Flowood, MS 39232
      View Details
    • $15 SF/Yr
      2,105 SF

      Flowood Office Space For Lease

      Premier office space in a highly desirable Flowood location.
      660 Katherine Dr, Flowood, MS
      View Details
    • $21 SF/Yr
      10,859 SF

      Flowood Drive Office Suite

      Second-floor office suite in Flowood's thriving business district.
      2540 Flowood Dr, Flowood, MS 39232
      View Details
    • $14 SF/Yr
      10,572 SF

      Flowood Industrial Flex Space Available

      3,000 SF industrial flex space for lease in Flowood.
      1018 N Flowood Dr, Flowood, MS 39232
      View Details
    • $5 SF/Yr
      28,000 SF

      Flowood Industrial and Flex Space

      Prime industrial/flex space near major highways in Flowood, Mississippi.
      710 Hwy 80 East, Flowood, MS 39232
      View Details
    • $8 SF/Yr
      39,500 SF

      Industrial Space Near Major Highways

      Functional industrial buildings for lease with convenient highway access.
      1001 Underwood Drive, Flowood, MS 39232
      View Details
    • $13 SF/Yr
      912 SF

      Flowood Office Space For Rent

      Professional building with marquee signage in a thriving area.
      1050 N. Flowood Dr., Flowood, MS
      View Details

    FAQs

    What type of property is this?
    Specialty property - Warehouse/distribution/manufacturing space in renovated industrial park with rail access.
    Where is this specialty property located?
    The property is located at 1001 Underwood Dr Flowood, MS.
    What are key features of this property?
    This property features: Excellent location: Minutes from Hwy 80, I‑20, I‑55, and the International Airport.; Ideal for warehousing/distribution/manufacturing.; Located in a robust submarket of the Jackson MSA.
    (601) 383-3733 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Sam Cox
    Sam Cox
    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

    Thank You for Inquiry
    1001 Underwood Dr, Flowood, MS
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!