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

    1401 Mississippi Dr Waynesboro, MS 39367

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $85,000

    1,360 sq ft building on 1 acre lot. Needs repairs, high potential.

    Property size:
    1,360 SF

    Property Features for 1401 Mississippi Dr

    General Information

    Property type
    Investment properties
    Square Feet
    1,360 SF
    Lot Size
    43,560 SF

    We can help!

    Listing Contact
    Laura Barnett
    Laura Barnett

    Listing Agency: Barnett Realty Listing Agent: Laura Barnett

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

    Learn more

    Property Insight Report

    Overview

    This exceptional business opportunity presents a 1,360 square foot building situated on a one-acre lot at 1401 Mississippi Drive in Waynesboro, Mississippi. The property boasts a highly visible location, making it ideal for a wide range of commercial ventures. While the building requires some repairs, this presents a significant advantage for a buyer seeking a property with substantial upside potential. The existing structure offers a solid foundation for a variety of business uses, allowing for customization and adaptation to suit specific needs. The one-acre lot provides ample space for expansion, outdoor operations, or additional parking. The asking price of $85,000 represents a compelling investment opportunity for entrepreneurs and business owners looking to establish or expand their operations in a prime Waynesboro location. The property's high visibility ensures significant exposure to potential customers, contributing to a strong return on investment. This is a chance to acquire a well-positioned property at an attractive price point, offering the potential for significant growth and profitability. Serious inquiries are encouraged to explore this promising business opportunity further. The property is sold as-is.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Investment properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Waynesboro
    County
    Wayne
    State
    Mississippi
    Longitude
    -88.64638
    Latitude
    31.68932

    Nearby Similar for Sale

    • $165,000
      2,000 SF

      Versatile Commercial Property in Waynesboro

      Ideally located commercial property suitable for retail or office use.
      902 Court St, Waynesboro, MS 39367
      View Details
    • $165,000
      2,000 SF

      Versatile Commercial Property in Waynesboro

      Ideally located commercial property suitable for various business uses.
      902 Court St, Waynesboro, MS 39367
      View Details
    • Contact for pricing
      1,100 SF

      Waynesboro Office and Retail Space

      Versatile commercial space suitable for office or retail use.
      805 Spring St, Waynesboro, MS 39367
      View Details
    • $565,000
      27.50 Acres

      Waynesboro Country Living Property

      Spacious home on 27.5 acres designed for country living.
      554 Buckatunna Chicora Clara Rd, Waynesboro, MS 39367
      View Details
    • $175,000

      Waynesboro Commercial Property Investment

      Prime C2 Zoned Location, High Potential
      902 Court St, Waynesboro, MS 39367
      View Details
    • $175,000
      1,731 SF

      Waynesboro Commercial Space Investment

      High-potential commercial property, 1700+ sq ft.
      911 Azalea Dr, Waynesboro, MS 39367
      View Details

    FAQs

    What type of property is this?
    Investment property - 1,360 sq ft building on 1 acre lot. Needs repairs, high potential.
    Where is this investment property located?
    The property is located at 1401 Mississippi Dr Waynesboro, MS.
    What is the asking price?
    The asking price for this property is $85,000.
    (601) 381-4003
    Request Owner's contact information
    1401 Mississippi Dr Waynesboro, MS 39367
    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.
    1401 Mississippi Dr
    Waynesboro, MS 39367
    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
    1401 Mississippi Dr Waynesboro, MS 39367
    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

    We can help!
    Listing Contact
    Laura Barnett
    Laura Barnett
    (601) 381-4003 (601) 381-5576
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!