Freestanding Laundromat Retail
For Sale
$384,900
Pending
1231 N Main St, Hattiesburg, MS 39401
Established laundromat with commercial equipment, paved parking, storefront windows, and an open customer-oriented layout.
Property Size1,800 SF
Days on Market10
Property Features for 1231 N Main St
General Information
Standard status
Pending
Size
1,800 SF
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$2,381
Amenities
commercial-grade washers and dryers
folding stations
vending machines
car vacuums
large paved parking lot
prominent signage
bright lighting
tile flooring
wide aisles
large storefront windows
Listing Agency:
Sigma Rlty dba RE/MAX RE Partners
(601) 674-6363
Listed By:
Maya C Stewart · License #S-48670
(601) 674-6363
Source:
Exprealty
Added: Aug 10
Changed: Aug 18
Last Checked: Aug 19 at 3:03PM
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 Sigma Rlty dba RE/MAX RE Partners
Investment Insights
Based on property information with market context.
This 1,800-square-foot freestanding retail property operates as an established laundromat. The interior includes commercial-grade washers and dryers, folding stations, customer waiting areas, vending machines, and car vacuums. Wide aisles, durable tile flooring, bright lighting, and an open arrangement support customer movement and daily operations. Storefront windows bring natural light into the customer area, while prominent signage and direct customer access serve the building’s retail function.
Located at 1231 N Main St in Hattiesburg, MS, the property includes a large paved parking lot and street frontage. The surrounding area includes established neighborhoods, providing a nearby residential context for the laundromat business.
Located at 1231 N Main St in Hattiesburg, MS, the property includes a large paved parking lot and street frontage. The surrounding area includes established neighborhoods, providing a nearby residential context for the laundromat business.
Key Highlights
- 1,800 SF freestanding retail building
- Established laundromat business with commercial‑grade washers and dryers
- Open interior with folding stations, wide aisles, and customer waiting areas
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
$13,835
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
3.59%
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%
$276,700
$276.7K
Cap Rate 7%
$197,643
$197.6K
Cap Rate 9%
$153,722
$153.7K
Market Conditions
NOI Build-Up for 1,800 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
$21.6K $12.00/SF
− Vacancy
−$1.8K −$1.02/SF
EGI
$19.8K $10.98/SF
− OpEx
−$5.9K −$3.29/SF
NOI
$13.8K $7.69/SF
Area
Forrest County, MS
Vacancy
8.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$276,700
Cap Rate 7%
$197,643
Cap Rate 9%
$153,722
Alternative Uses
Best Use
Retail
$197.6K
$172.9K – $230.6K
NOI $13,835 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$296.2K
$259.2K – $345.6K
NOI $20,736 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,361 visits/mo
0.4 miles
Demographics for 39401, MS
43,183
Population
20,232
Households
2.1
Avg Household Size
32
Median Age
28%
College-Educated
89%
High-School Grad
188.9 sq mi
ZIP Area
229
Density / Sq Mi
$40,287
Median Household Income
$25,697
Median Earnings
$932
Median Rent
$120,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Established laundromat with commercial equipment, paved parking, storefront windows, and an open customer-oriented layout.
Where is this retail space located?
The property is located at 1231 N Main St Hattiesburg, MS.
What is the asking price?
The asking price for this property is $384,900.
What are key features of this property?
This property features: 1,800 SF freestanding retail building; Established laundromat business with commercial‑grade washers and dryers; Open interior with folding stations, wide aisles, and customer waiting areas
