Former Bank Building on
2351 Lakeland Dr Flowood, MS 39232
2351 Lakeland Dr, Flowood, MS, 39232
Contact for pricing
For Sale
Contact for pricing
3,250 SF commercial building with high visibility on Lakeland Drive.
Property Size3,250 SF
Price / SF$300
Days on Market672
Property Features for 2351 Lakeland Dr
General Information
- Standard status
- Active
- Size
- 3,250 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1999
Listing agency
Estes Bush Real Estate LLC
(769) 300-4241
Listed by
Brian E. Estes · License #MS B12489
Source
Crexi
Added: Sep 18, 2024 Updated: Jul 10 at 3:41PM Checked: Jul 21 at 5:46AM
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 Estes Bush Real Estate LLC
Investment Insights
Based on property information with market context.
This 3,250 square foot building, formerly a bank, is located on Lakeland Drive in Flowood, Mississippi. The property features four offices, a breakroom, a copy room, and two bathrooms. The building is well-maintained and offers visibility with frontage on Lakeland Drive. A property sign is already in place. Zoned C-3 General Commercial, the property is located in Flowood. The property offers potential for various business types.
Key Highlights
- High‑visibility Lakeland Drive frontage.
- Located in the desirable Flowood area.
- Zoned C‑3 General Commercial, allowing for multiple business types.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.5k | $18.00 |
| − Vacancy | −$3.5k | −$1.08 |
| EGI | $55.0k | $16.92 |
| − OpEx | −$13.7k | −$4.23 |
| NOI | $41.2k | $12.69 |
3,250 SF · lease $18.00/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$589.2K
$515.5K – $687.4K
NOI $41,243 @ 7.0% cap · market cap 4.23%
Second Best
Retail
$487.6K
$426.6K – $568.8K
NOI $34,130 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$891.4K
$780.0K – $1.04M
NOI $62,400 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Banks
Similar For Sale Nearby
FAQs
What type of property is this?
Bank - 3,250 SF commercial building with high visibility on Lakeland Drive.
Where is this bank located?
The property is located at 2351 Lakeland Dr Flowood, MS.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: High‑visibility Lakeland Drive frontage.; Located in the desirable Flowood area.; Zoned C‑3 General Commercial, allowing for multiple business types.
