Listing Agency: Lee Hawkins, Realty w***@gmail.com Show Phone

Listed By: Bryan Jameson · License #S61225 Show Phone

Source: Exprealty

Added: May 12, 2025 Changed: Aug 20 Last Checked: Aug 21 at 1:31PM

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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 Lee Hawkins, Realty

Investment Insights

Based on property information with market context.

The property features two warehouses. The first warehouse measures approximately 50 feet by 200 feet by 20 feet, totaling approximately 10,000 square feet. The front of this building includes a finished office and showroom area of approximately 1,480 square feet, which consists of a reception area, a separate office, a breakroom, a bathroom, and a showroom area. The warehouse section has six overhead doors, a bathroom, and stairs leading to storage space above the finished office area. The second warehouse measures approximately 50 feet by 100 feet by 20 feet, totaling approximately 5,000 square feet, and has three overhead doors. The property is located in Gluckstadt, MS.

Key Highlights

• Two warehouses totaling 15,000 +/- SF.
• Warehouse 1 features a 1,480 +/- SF finished office/showroom area.
• Warehouse 1 has six overhead doors.

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$159,536

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.56%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$3,190,720 $3.2M

Cap Rate 7%

$2,279,086 $2.3M

Cap Rate 9%

$1,772,622 $1.8M

Market Conditions

NOI Build-Up for 15,000 SF 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.

Gross rent

$261.0K $17.40/SF

− Vacancy

−$48.3K −$3.22/SF

EGI

$212.7K $14.18/SF

− OpEx

−$53.2K −$3.55/SF

NOI

$159.5K $10.64/SF

Area

Madison County, MS

Vacancy

18.50%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$3,190,720

Cap Rate 7%

$2,279,086

Cap Rate 9%

$1,772,622

Alternative Uses

Best Use

Office B

$2.28M

$1.99M – $2.66M (±1% cap)

NOI $159,536 @ 7.0% cap · market cap 4.56%

Second Best

Warehouse

$1.34M

$1.18M – $1.57M (±1% cap)

NOI $94,002 @ 7.0% cap · market cap 2.69%

Theoretical Best

Office A

$3.27M

$2.86M – $3.81M (±1% cap)

NOI $228,571 @ 7.0% cap · market cap 6.53%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Office Units

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Auto Parts Store Plumbing Service (Bike/Boat/Book/etc) Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

305

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 39110, MS

48,474

Population

18,305

Households

2.6

Avg Household Size

41

Median Age

64%

College-Educated

97%

High-School Grad

74.3 sq mi

ZIP Area

652

Density / Sq Mi

$122,955

Median Household Income

$62,071

Median Earnings

$1,979

Median Rent

$342,600

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - Two warehouses featuring office/showroom space and multiple overhead doors.

Where is this warehouse located?

The property is located at 142 Enterprise Dr Gluckstadt, MS.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: Two warehouses totaling 15,000 +/- SF.; Warehouse 1 features a 1,480 +/- SF finished office/showroom area.; Warehouse 1 has six overhead doors.