Historic Mixed-Use Property in
For Sale
$429,000
121 Front Street, Forest, MS 39074
Restored mixed-use property with warehouse and fenced storage in Forest, MS.
Property Size6,800 SF
Lot Size0.67 Acres
Price / SF$63.09
Days on Market273
Property Features for 121 Front Street
General Information
Standard status
Active
Size
6,800 SF
Lot size
0.67 Acres
Listing Agency:
Alford Realty
Listed By:
Matt Alford · License #B18871
(601) 469-1377
Source:
Sunsetmississippirealty
Added: Jan 26
Changed: Oct 26
Last Checked: Oct 24 at 4:51PM
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 Alford Realty
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Investment Insights
Based on property information with market context.
Located one block south of the Scott County Courthouse at the corner of South Main Street and Front Street, this historic property offers a blend of classic charm and modern amenities suitable for various commercial uses. The property, situated on a 0.67-acre lot, includes two adjoining buildings. The east building, currently tenant-occupied, features a salon and a special events venue specializing in wedding receptions and personal gatherings. This building is well-suited for commercial, retail, or restaurant use, with two reception areas, private offices, storage, restrooms, and a kitchen. Multiple electrical meters are present, allowing for easy division into multiple commercial units. The main building, constructed in 1923, provides nearly 6,800 square feet of meticulously restored interior space. Adjoining the main building is a metal warehouse built in 1967, ideal for inventory storage or potential modification into a large gathering place or light industrial space. The western portion of the property includes over 6,000 square feet of fenced storage area, secured by a security fence. Situated across the street from two small city parks, the property is located in a pedestrian-friendly downtown area experiencing significant restoration with retail, office, and residential spaces. The City of Forest, near the geographic center of Mississippi in the Bienville National Forest, is 35 minutes from Jackson Medgar Evers International Airport and 40 minutes from downtown Meridian.
Key Highlights
- Meticulously restored historic building (built in 1923) with exposed brick, heart of pine beams and flooring, offering approximately 6,800 sq ft of interior space.
- Located in a pedestrian‑friendly downtown area undergoing dramatic restoration with retail, office, and residential spaces.
- Versatile property suitable for commercial, retail, or restaurant use, with potential for multiple commercial units due to multiple electrical meters.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,889
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$737,780
$737.8K
Cap Rate 7%
$526,986
$527.0K
Cap Rate 9%
$409,878
$409.9K
Market Conditions
NOI Build-Up for 6,800 SF
Gross rent
$44.9K $6.60/SF
− Vacancy
−$1.5K −$0.22/SF
EGI
$43.4K $6.38/SF
− OpEx
−$6.5K −$0.96/SF
NOI
$36.9K $5.42/SF
Area
Scott County, MS
Vacancy
3.30%
Lease Rate
$6.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$737,780
Cap Rate 7%
$526,986
Cap Rate 9%
$409,878
Alternative Uses
Best Use
Specialty Retail
$1.08M
$944.8K – $1.26M
NOI $75,582 @ 7.0% cap · market cap 17.62%
Second Best
Retail
$962.9K
$842.5K – $1.12M
NOI $67,402 @ 7.0% cap · market cap 15.71%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,567 @ 7.0% cap · market cap 19.01%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
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Business Placement
Demographics for 39074, MS
14,552
Population
6,222
Households
2.3
Avg Household Size
36
Median Age
14%
College-Educated
75%
High-School Grad
277.4 sq mi
ZIP Area
52
Density / Sq Mi
$46,890
Median Household Income
$31,378
Median Earnings
$795
Median Rent
$114,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restored mixed-use property with warehouse and fenced storage in Forest, MS.
Where is this mixed-use property located?
The property is located at 121 Front Street Forest, MS.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Meticulously restored historic building (built in 1923) with exposed brick, heart of pine beams and flooring, offering approximately 6,800 sq ft of interior space.; Located in a pedestrian‑friendly downtown area undergoing dramatic restoration with retail, office, and residential spaces.; Versatile property suitable for commercial, retail, or restaurant use, with potential for multiple commercial units due to multiple electrical meters.
