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    Versatile Commercial Property in Brookhaven Title is generated by Realmo AI

    128 S First Street, Brookhaven, MS 39601

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    Claim this Listing
    For Sale
    $489,000

    COMMERCIAL - Brookhaven, MS

    Property size:
    5,135 SF
    Lot size:
    0.38 Acres
    Price / SF:
    $95/SF
    Added:
    Oct 21, 2025
    Days on Market:
    206
    Last Refresh:
    May 14 at 8:06 pm

    Property Features for 128 S First Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    25
    Parking features
    Off Street
    Fireplace
    1
    Standard status
    Active
    APN
    B87-18-2-079
    Size
    5,135 SF
    Lot size
    0.38 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    ALL OF THE S.160' OF LOTS 14,15 &16 LESS PT TO NASH (35-05) & LESS PT TO BOONE (35-08) & LESS PT TO LAPAM (35-06) BLOCK 27 BLOCKS 1 - 203
    Tax Annual Amount
    5327

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1960
    Flooring type
    Tile - Ceramic, Carpet, Vinyl
    Roof type
    Flat, Shingle

    We can help!

    Listing Contact
    Blake Sasser

    Listing agent Blake Sasser License #S-52540

    Listing office Southern Oaks RE Properties LLC 105 Mullens Drive Ste A, Brookhaven, MS

    Listing date Oct 21, 2025

    MLS# 4129245

    Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime commercial location in the heart of Brookhaven with high visibility and easy access.
    • Versatile property with approximately 4,678 sq ft of heated/cooled space and four distinct spaces for flexible use (investors or owner‑occupants).
    • Ample off‑street parking for more than 25 vehicles.
    • Main unit (128 S First St) features a spacious conference room, dedicated server room, six offices, full kitchen, and covered patio.
    • Office space at 127 E Cherokee St includes an executive suite with built‑in shelving and an electric fireplace.
    • Unit at 130 S First St is tenant‑occupied, providing immediate income potential.

    Overview

    Located in Brookhaven, this commercial property offers approximately 4,678 square feet of heated and cooled space. The property includes ample off-street parking for more than 25 vehicles and features four distinct spaces, providing flexibility for investors or owner-occupants. The main unit, comprising approximately 2,000 square feet, includes a spacious conference room, a dedicated server room, six offices of various sizes, one bathroom, a full kitchen, and a covered patio area. Another office space offers around 1,500 square feet and features a large foyer, two offices, and a third expansive office with built-in shelving and an electric fireplace. An additional unit, totaling about 1,000 square feet, is currently tenant-occupied and includes two bathrooms, a welcoming foyer, an open-concept workspace currently used as a desk pool, a conference room, and a storage/break room. Additionally, a storefront is currently being utilized for storage, providing even more flexibility and potential for future use. Several covered doorways connect these offices, offering the option to operate as one facility. The property is located in a high-visibility area with easy access and generous parking.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Timothy Bruce Crain ... Financial Advisor Christopher Murphy - Financial ... Financial Advisor Nash Insurance Insurance Agency Mindy Hedgepeth Smith ... Financial Advisor Mindy Hedgepeth Smith ... Financial Advisor

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Brookhaven
    County
    Lincoln
    State
    Mississippi
    Longitude
    -90.441236
    Latitude
    31.578232

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    FAQs

    What type of property is this?
    Office units - Multi-unit commercial property with flexible spaces and ample parking.
    Where is this office units located?
    The property is located at 128 S First Street Brookhaven, MS.
    What is the asking price?
    The asking price for this property is $489,000.
    What are key features of this property?
    This property features: Prime commercial location in the heart of Brookhaven with high visibility and easy access.; Versatile property with approximately 4,678 sq ft of heated/cooled space and four distinct spaces for flexible use (investors or owner‑occupants).; Ample off‑street parking for more than 25 vehicles.
    (601) 757-5027
    We can help!
    Listing Contact
    Blake Sasser
    Real Estate License ID: S-52540
    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.

    More about this property
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