1015 West Pine Street, Hattiesburg, MS 39401
Cash-flowing multifamily with long-term corporate lease for 12 units and 24-hour notice showings.
- Added:
- Jun 10, 2026
- Days on Market:
- 14
- Last Refresh:
- Jun 20 at 2:49 am
Property Features for 1015 West Pine Street
General Information
- Standard status
- Active
- Size
- 24,576 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1972
Listing agent Paulette Egler License #MS 15308
Listing office REALTYcom, LLC
Listing date Jun 10, 2026
Source Crexi
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 REALTYcom, LLC
HighLights
- 12‑unit multifamily property built in 1972
- Long‑term corporate tenant leasing all 12 units
- Lease has been in place for more than 6 years
- Trailing NOI with Cap Rate 6.78 and Stabilized NOI with Cap Rate 8.85 (as substantiate‑able by owners)
- Gross income, rent rolls, and total operating expenses available to qualified buyers with a signed confidentiality agreement
- 24‑hour notice required for showings; property manager does not live on‑site
Overview
The property is located at 1015 West Pine Street in Hattiesburg, Mississippi. The listing notes that this is the first time the property has been on the market in six years.
For buyers looking for a more stabilized tenant profile, the long-term corporate tenancy is positioned as the key operating factor in the current leasing structure. The seller’s remarks also indicate the current owners have maintained the existing contract in good standing throughout their ownership period. Please note that the property manager does not live on-site, and at least a 24-hour notice is required for showings. Owner financing and leaseback are not offered by the seller, while buyers who want deeper underwriting detail should be prepared to execute an NDA first.
Local Financial Insights For Apartment 5plus
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 | $271.3k | $11.04 |
| − Vacancy | −$21.4k | −$0.87 |
| EGI | $249.9k | $10.17 |
| − OpEx | −$112.4k | −$4.58 |
| NOI | $137.4k | $5.59 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Hattiesburg
- County
- Forrest
- State
- Mississippi
- Longitude
- -89.300496
- Latitude
- 31.318552
