Former Bank Building on
For Sale
$975,000
Pending
2351 Lakeland Drive, Flowood, MS 39232
3,250 SF commercial building with high visibility on Lakeland Drive.
Property Size3,250 SF
Days on Market214
Property Features for 2351 Lakeland Drive
General Information
Standard status
Pending
Size
3,250 SF
Listing Agency:
Estes Bush Real Estate LLC
(601) 362-9633
Listed By:
Jimmy A Kitchens
(601) 955-6434
Source:
Insightgroupms
Added: Mar 26
Changed: Oct 12
Last Checked: Oct 24 at 5:40PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,243
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$824,860
$824.9K
Cap Rate 7%
$589,186
$589.2K
Cap Rate 9%
$458,256
$458.3K
Market Conditions
NOI Build-Up for 3,250 SF
Gross rent
$58.5K $18.00/SF
− Vacancy
−$3.5K −$1.08/SF
EGI
$55.0K $16.92/SF
− OpEx
−$13.7K −$4.23/SF
NOI
$41.2K $12.69/SF
Area
Rankin County, MS
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$824,860
Cap Rate 7%
$589,186
Cap Rate 9%
$458,256
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 authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
722
Businesses Nearby
Explore this area
Business Placement
Demographics for 39232, MS
9,052
Population
4,204
Households
2.2
Avg Household Size
37
Median Age
51%
College-Educated
97%
High-School Grad
25.6 sq mi
ZIP Area
354
Density / Sq Mi
$83,389
Median Household Income
$49,760
Median Earnings
$1,412
Median Rent
$293,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
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 Drive 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.
