Sign Up Successful!
You now have access to more from Realmo!
    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

    3420 Groveland Rd Ocean Springs, MS 39564

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $695,000

    1.14 acre commercial lot near residential area.

    Property size:
    1 SF
    Lot size:
    1.14 Acres

    Property Features for 3420 Groveland Rd

    General Information

    Size
    1 SF
    Lot size
    1.14 Acres

    We can help!

    Listing Contact
    Ricky Sutherland
    Ricky Sutherland
    Source: Cbcworldwide

    Listing Agent: Ricky Sutherland

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

    Learn more

    Overview

    Commercial Land Near New Development

    This 1.14-acre lot is located on Groveland Road, adjacent to a new Chick Fil A development and near a residential area. The property is currently on the agenda to be rezoned for commercial use, making it suitable for various commercial applications.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Springs
    County
    Jackson
    State
    Mississippi
    Longitude
    -88.7750671
    Latitude
    30.4135209

    Nearby Similar for Sale

    • $695,975
      1,764 SF

      Commercial Office Space For Sale

      Prime location with tenant in place, great investment opportunity.
      6200 Washington Ave, Ocean Springs, MS 39564
      View Details
    • $850,000
      1,620 SF

      Historic Commercial Building, Ocean Springs

      Prime downtown location, ideal for restaurant or short-term rental.
      1705 Government St, Ocean Springs, MS 39564
      View Details
    • $364,000
      Pending

      Downtown Ocean Springs Duplex Opportunity

      Duplex in the heart of downtown Ocean Springs.
      605/607 Russell Ave, Ocean Springs, MS 39564
      View Details
    • $149,900
      Pending

      Retail Property on Highway 90

      Commercial property on Highway 90 with retail potential.
      2752 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $1,350,000
      6,000 SF

      Ocean Springs Retail Opportunity

      Three parcels with a 6,000 SF building for sale.
      6514 Washington Ave, Ocean Springs, MS 39564
      View Details
    • $895,000
      1 SF

      Commercial Lot with Retail/Storage

      1.27 acre commercial lot with retail and storage.
      4025 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $207,000
      Pending

      Land in Central Ocean Springs

      Residential land in walking distance to amenities and businesses.
      Maple Woods Ln, Ocean Springs, MS 39564
      View Details
    • $1,250,000
      Pending

      Profitable Bar & Grill For Sale

      Bar and grill with real property in Ocean Springs.
      2114 E Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $345,000

      Commercial Space on Government Street

      Prime location for office or retail in Ocean Springs.
      201 Walnut Dr, Ocean Springs, MS 39564
      View Details
    • $1,500,000
      4,400 SF

      Downtown Ocean Springs Restaurant Opportunity

      Restaurant property in the heart of downtown Ocean Springs.
      1223 Government St, Ocean Springs, MS 39564
      View Details
    • $66,000
      3,000 SF

      Ocean Springs Retail Build-to-Suit

      Prime 3,000 SF vacant lot, ideal for pharmacy.
      3082 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $1,850,000
      5,500 SF

      Ocean Springs Medical Office

      High-yield, 100% occupied medical building
      1511 Bienville Blvd, Ocean Springs, MS 39564
      View Details

    FAQs

    What type of property is this?
    Land - 1.14 acre commercial lot near residential area.
    Where is this land located?
    The property is located at 3420 Groveland Rd Ocean Springs, MS.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: - Prime location adjoining new Chick Fil A development; - **1.14 acre lot suitable for commercial development**; - Fronts on Groveland near residential development
    (228) 769-7777
    Request Owner's contact information
    3420 Groveland Rd Ocean Springs, MS 39564
    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.
    3420 Groveland Rd
    Ocean Springs, MS 39564
    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
    3420 Groveland Rd Ocean Springs, MS 39564
    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
    Ricky Sutherland
    Ricky Sutherland
    (228) 769-7777
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.