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    232 Goodman Rd Southaven, MS

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    Office and retail space in the heart of Southaven.

    Type:OFFICE
    Property size:
    1,056 SF
    Lot size:
    1.36 Acres
    Added:
    May 16, 2024
    Days on Market:
    706
    Last Refresh:
    Apr 5 at 10:10 pm

    Property Features for 232 Goodman Rd

    General Information

    Standard status
    Active
    Size
    1,056 SF
    Lot size
    1.36 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 232 Goodman Rd Contact us

    We can help!

    Listing Contact
    Rhodes Thompson

    Listing agent Rhodes Thompson

    Listing office Keller Williams Realty

    Listing date May 16, 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 Keller Williams Realty

    Overview

    Southaven Office and Retail Space

    Located a few hundred feet from the I-55/Goodman Road Exit in the heart of Southaven, this property offers spacious offices with room to customize to tenant needs. A drive-thru is available for use or transformation. The location benefits from a traffic count of 38,000 cars per day. The property offers 1,056 square feet of space. Tenant improvement allowance is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Glider Howell & Associates Law Firm Mid-South Assay & Refinery Corporate Office Walsh Team Realty Real Estate Agency Oida Images Boudoir Publishing House Goldwell Institute Medical Clinic

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Southaven
    County
    DeSoto
    State
    Mississippi
    Longitude
    -89.9857
    Latitude
    34.9631

    Nearby Similar for Lease

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      Southaven Shopping Center Retail Space

      Retail spaces available in a busy Southaven shopping center.
      775-975 Goodman Rd E, Southaven, MS 38671
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      Southaven Flex Space For Rent

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      Retail Space in Southaven, MS

      Neighborhood shopping center with excellent visibility on Goodman Road.
      1055 Goodman Rd, Southaven, MS 38671
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    • $10/mo

      Retail Space in Prime Location

      9,862 SF retail space in Southaven, MS corridor.
      7065 Airways Blvd, Southaven, MS
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      Medical Office Park Near I-55

      Medical office space for lease near Baptist DeSoto Hospital.
      7900 Airways Boulevard, Southaven, MS, 38671
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      Medical Hub Location

      Located in the DeSoto County Medical hub.
      7535 Airways Boulevard, Southaven, MS, 38671
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      Southaven Office/Retail Space For Lease

      2,133 SF space in a popular mixed-use center.
      5960 Getwell Rd, Southaven, MS
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      Former Pharmacy Retail Space Available

      Freestanding retail building in Southaven, MS, for sublease.
      2945 Goodman Rd E, Southaven, MS
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      Southaven Warehouse with Cross Docking

      312,000 SF warehouse featuring cross-dock loading and trailer parking.
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      Retail and Restaurant Space Available

      New development with retail, restaurant, and entertainment space.
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      View Details

    FAQs

    What type of property is this?
    Office units - Office and retail space in the heart of Southaven.
    Where is this office units located?
    The property is located at 232 Goodman Rd Southaven, MS.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Prime Location: Heart of Southaven; High Traffic Count: 38,000 cars per day; Excellent Accessibility: Close to I‑55/Goodman Road Exit
    (662) 892-4000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Rhodes Thompson
    Learn More
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    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
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