16-Unit Apartment
For Sale
$1,080,000
2008 Oak Grove Rd, Hattiesburg, MS 39402
R-3-zoned multifamily property with full occupancy in Hattiesburg.
Property Size16,496 SF
Price / SF$65.47
Days on Market147
Property Features for 2008 Oak Grove Rd
General Information
Standard status
Active
Size
16,496 SF
Property subtype
Multifamily
Zoning
R-3
Occupancy
100%
Additional Details
Multifamily Units
16
Building Details
Building Size
16,496 SF
Year Built
1978
Buildings
1
Listed By:
Chamberlan Carothers, CCIM, CPM
(601) 329-6692
Source:
Svn
Added: May 14
Changed: Sep 8
Last Checked: Oct 5 at 3:47PM
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 Chamberlan Carothers, CCIM, CPM
Investment Insights
Based on property information with market context.
This apartment property in Hattiesburg contains 16 units within a 16,496-square-foot building. Constructed in 1978, the asset is designated R-3 and is currently reported at 100% occupancy, providing an established multifamily configuration for an acquisition or portfolio review.
The property is located at 2008 Oak Grove Rd in Hattiesburg, Mississippi, within the Lamar County School District. Its unit count, zoning, building size, and reported occupancy provide the principal details for evaluating the asset.
The property is located at 2008 Oak Grove Rd in Hattiesburg, Mississippi, within the Lamar County School District. Its unit count, zoning, building size, and reported occupancy provide the principal details for evaluating the asset.
Key Highlights
- 16,496 SF apartment building
- 16‑unit multifamily property
- Built in 1978
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,251
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,845,020
$1.8M
Cap Rate 7%
$1,317,871
$1.3M
Cap Rate 9%
$1,025,011
$1.0M
Market Conditions
NOI Build-Up for 16,496 SF
Gross rent
$182.1K $11.04/SF
− Vacancy
−$14.4K −$0.87/SF
EGI
$167.7K $10.17/SF
− OpEx
−$75.5K −$4.58/SF
NOI
$92.3K $5.59/SF
Area
Forrest County, MS
Vacancy
7.90%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,845,020
Cap Rate 7%
$1,317,871
Cap Rate 9%
$1,025,011
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.15M – $1.54M
NOI $92,251 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.71M
$2.38M – $3.17M
NOI $190,034 @ 7.0% cap · market cap 17.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,055
Businesses Nearby
Explore this area
Business Placement
Demographics for 39402, MS
44,633
Population
18,780
Households
2.4
Avg Household Size
35
Median Age
46%
College-Educated
95%
High-School Grad
93.2 sq mi
ZIP Area
479
Density / Sq Mi
$71,254
Median Household Income
$41,552
Median Earnings
$1,183
Median Rent
$255,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - R-3-zoned multifamily property with full occupancy in Hattiesburg.
Where is this apartment building located?
The property is located at 2008 Oak Grove Rd Hattiesburg, MS.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: 16,496 SF apartment building; 16‑unit multifamily property; Built in 1978
