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    Spacious Multipurpose Building in Star Title is generated by Realmo AI

    154 Dixie Drive, Florence, MS 39073

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    Claim this Listing
    For Sale
    $415,000

    Versatile 7,972 SF building ideal for daycare or community initiatives.

    Type:Commercial/Industrial
    Property size:
    7,972 SF
    Price / SF:
    $52/SF
    Added:
    Oct 19, 2024
    Days on Market:
    592
    Last Refresh:
    May 27 at 10:19 am

    Property Features for 154 Dixie Drive

    General Information

    Standard status
    Active
    Size
    7,972 SF
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Chuck L McGee

    Listing agent Chuck L McGee License #B20964

    Listing office McGee Realty Services

    Listing date Oct 19, 2024

    Source Exitrealty

    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 McGee Realty Services

    HighLights

    • Nearly 8,000 sq ft of versatile building space suitable for various purposes.
    • Previously utilized as a daycare center, making it well‑suited for continued use in childcare or similar community services.
    • Numerous classrooms and offices provide ample space for educational activities and administrative functions.
    • Abundant parking available in the front of the property.
    • Fenced area at the rear of the building provides a safe and secure playground space.
    • Located in the welcoming community of Star, Mississippi, near the Highway 49 corridor for easy access.

    Overview

    This multipurpose building in Star, Mississippi, offers approximately 8,000 square feet of space suitable for a daycare center or other community-focused initiatives. The facility includes numerous classrooms and offices, providing space for educational activities and administrative functions. It features two full restrooms and two additional smaller restrooms. A dining hall is available for meals and gatherings. Abundant parking is located in the front of the property. A fenced area at the rear of the building provides a secure playground space. Previously used as a daycare center, the building is suited for continued use in child care or similar community services. The property is located in Star, near the Highway 49 corridor, providing accessibility to the metro Jackson area. The surrounding neighborhood offers a friendly atmosphere. This building provides a foundation for a community hub.
    Location Intelligence

    Current Use by Public Records

    Day care centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Rankin
    State
    Mississippi
    Longitude
    -90.1314
    Latitude
    32.1297

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      Spacious Multipurpose Building in Star

      Versatile 7,972 sqft building ideal for daycare or community initiatives.
      154 Dixie Drive, Florence, MS 39073
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    FAQs

    What type of property is this?
    Day care center - Versatile 7,972 SF building ideal for daycare or community initiatives.
    Where is this day care center located?
    The property is located at 154 Dixie Drive Florence, MS.
    What is the asking price?
    The asking price for this property is $415,000.
    What are key features of this property?
    This property features: Nearly 8,000 sq ft of versatile building space suitable for various purposes.; Previously utilized as a daycare center, making it well‑suited for continued use in childcare or similar community services.; Numerous classrooms and offices provide ample space for educational activities and administrative functions.
    (601) 832-4715
    We can help!
    Listing Contact
    Chuck L McGee
    Real Estate License ID: B20964
    Learn More
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    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.

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