Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Established Store in Dixie Community Title is generated by Realmo AI

    1242 Elks Lake, Hattiesburg, MS 39401

    View on Map
    Claim this Listing
    For Sale
    $449,900

    COMMERCIAL - Hattiesburg, MS

    Lot size:
    0.76 Acres
    Added:
    Jan 6, 2026
    Days on Market:
    148
    Last Refresh:
    Jun 3 at 7:06 pm

    Property Features for 1242 Elks Lake

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    1
    Rooms
    Bathroom 1
    Standard status
    Active
    Lot size
    0.76 Acres

    Taxes and HOA fees

    Tax Description
    Comm at the SE cor of NE 1/4 of SW 1/4 East 33.45' North 174.03'to POB North 89 Deg E 259.37' North 14 5.27' on the sou
    Tax Annual Amount
    1345

    We can help!

    Listing Contact
    Lisa Bridges Phelps

    Listing agent Lisa Bridges Phelps License #S-53841

    Listing office Realty Executives The Executive Team 118 Lamar Blvd, Hattiesburg, MS

    Listing date Jan 6, 2026

    MLS# 145358

    Copyright © 2026 Hattiesburg Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully stocked and operating country store with established customer base.
    • Includes bait, food, household goods, and a small restaurant with griddles and ovens.
    • Features 3 large (6000 gallon) gas tanks, with 2 in service, and propane refills.
    • Relatively new roof (2 years old).
    • Includes inventory, fixtures, and furniture.
    • Central heating and air conditioning.

    Overview

    This well-established country store, situated in the heart of the Dixie community, is fully stocked and currently operating. The 1,997 square foot property includes a small restaurant area equipped with griddles and ovens, suitable for food service. The store offers a variety of goods, including bait, food, and household items. It also features three 6,000-gallon gas tanks, with two currently in service, as well as propane refills. The roof is only two years old. This property presents a business opportunity with a solid, year-round customer base. The store has had only two owners since its establishment and is being sold for retirement purposes. It is located in Hattiesburg, Forrest County, MS.
    Location Intelligence

    Current Use by Public Records

    Ed & Em's Quik ... Gas Station

    Suggested Use

    Storage Facility Electrical Service (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hattiesburg
    County
    Forrest
    State
    Mississippi
    Longitude
    -89.28736
    Latitude
    31.190237

    Nearby Similar for Sale

    • $379,000
      3,952 SF

      Hattiesburg Commercial Property on Hwy 42

      Versatile commercial property with expansion potential on Hwy 42 Bypass.
      5619 Hwy 42, Hattiesburg, MS 39401
      View Details
    • $195,000
      1,518 SF

      Hattiesburg Commercial Office Opportunity

      Commercial office space with flexibility and convenient location in Hattiesburg.
      208 S 25th Avenue, Hattiesburg, MS 39401
      View Details
    • $343,000
      9,000 SF

      Hattiesburg Self-Storage Investment Opportunity

      Established self-storage facility in high-traffic Hattiesburg location.
      4364 Lincoln Rd Ext, Hattiesburg, MS 39402
      View Details
    • $850,000
      16,000 SF

      Hattiesburg Retail Building on Hardy

      16,000 SF retail building on heavily traveled Hardy Street.
      1305 Hardy St, Hattiesburg, MS 39401
      View Details
    • $664,525
      5,805 SF

      Hattiesburg Office Plaza For Sale

      Office plaza in the heart of Hattiesburg's office/retail district.
      17 Plaza Dr, Hattiesburg, MS 39402
      View Details
    • $249,000
      2,128 SF

      Hattiesburg Office Building For Sale

      Versatile office building in Hattiesburg, MS with ample parking.
      1000 S 17th Ave, Hattiesburg, MS 39401
      View Details
    • $199,000
      5,500 SF

      Hattiesburg Retail Business Opportunity

      Large retail space with vendor rental potential on Hwy 49.
      4510 US Hwy 49, Hattiesburg, MS 39401
      View Details
    • $105,000
      750 SF

      Office and Retail Versatility

      Flexible office and retail setup with recent updates and dedicated parking for clients and staff in a convenient downtown area.
      307 3rd Ave, Hattiesburg, MS 39401
      View Details
    • $1,200,000

      Turnkey Bar and Pub Opportunity

      Established bar and pub for sale in Hattiesburg, MS.
      2100 W Pine St, Hattiesburg, MS 39402
      View Details
    • $385,000

      Freestanding Office Building

      For sale freestanding office building on a small lot in Hattiesburg, suited for owner-users seeking a compact commercial site.
      814 W Pine St, Hattiesburg, MS 39401
      View Details
    • $174,900
      1,500 SF

      Small Multi-Family Property

      For sale small multi-family asset on a compact lot in Hattiesburg, suited for investors seeking a manageable property footprint.
      203 Columbia St., Hattiesburg, MS 39401
      View Details
    • $225,000
      12,400 SF

      Mixed-Use Building with Warehouse Space

      Two-story building with warehouse space, suitable for various businesses.
      1209 A Corinne St, Hattiesburg, MS 39401
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Fully stocked, operating country store with restaurant and gas tanks.
    Where is this grocery and convenience store located?
    The property is located at 1242 Elks Lake Hattiesburg, MS.
    What is the asking price?
    The asking price for this property is $449,900.
    What are key features of this property?
    This property features: Fully stocked and operating country store with established customer base.; Includes bait, food, household goods, and a small restaurant with griddles and ovens.; Features **3 large (6000 gallon) gas tanks**, with 2 in service, and propane refills.
    (601) 270-5250
    We can help!
    Listing Contact
    Lisa Bridges Phelps
    Real Estate License ID: S-53841
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1242 Elks Lake, Hattiesburg, MS 39401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!