Building Details

Floors in Building 1

Listing Agency: ELITE REALTY · RE/MAX International k***@henleyproperties.com Show Phone

Listed By: Frank J Anger · License #S-59284 Show Phone

Added: Apr 14 Changed: Aug 4 Last Checked: Aug 22 at 11:06PM

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MLS# 26-1290

Copyright © 2026 Northeast Mississippi Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

Situated on 0.71 acres, the 2,961-square-foot property is currently configured as an updated medical clinic. The building is described as well maintained and offers a professional setting with parking for patients and clients, along with a separate rear area assigned to staff and associates.

Located at 2464 Main St in Plantersville, MS 38862, the property is offered for sale. Its existing clinical configuration and dedicated staff parking are the primary documented features.

Key Highlights

• 2,961‑square‑foot medical clinic building
• 0.71‑acre property
• Currently configured as an updated medical clinic

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$27,667

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

6.51%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$553,340 $553.3K

Cap Rate 7%

$395,243 $395.2K

Cap Rate 9%

$307,411 $307.4K

Market Conditions

NOI Build-Up for 2,961 SF 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.

Gross rent

$51.5K $17.40/SF

− Vacancy

−$5.4K −$1.83/SF

EGI

$46.1K $15.57/SF

− OpEx

−$18.4K −$6.23/SF

NOI

$27.7K $9.34/SF

Area

Lee County, MS

Vacancy

10.50%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$553,340

Cap Rate 7%

$395,243

Cap Rate 9%

$307,411

Alternative Uses

Best Use

Healthcare Medical

$395.2K

$345.8K – $461.1K (±1% cap)

NOI $27,667 @ 7.0% cap · market cap 6.51%

Second Best

Office B

$371.2K

$324.8K – $433.1K (±1% cap)

NOI $25,983 @ 7.0% cap · market cap 6.11%

Theoretical Best

Office A

$556.1K

$486.6K – $648.8K (±1% cap)

NOI $38,926 @ 7.0% cap · market cap 9.16%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Hill Debra W Physician Plantersville Family Clinic Medical Clinic Pam Hodges Physician Sharon Catledge Physician

Suggested Use

Top Pick Electrical Service Auto Repair Shop Grocery & Convenience Store Barber Shop Furniture & Home Goods Tech Support Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

40

Businesses Nearby

Explore this area Business Placement

Demographics for 38862, MS

2,271

Population

1,091

Households

2.1

Avg Household Size

46

Median Age

30%

College-Educated

84%

High-School Grad

29.8 sq mi

ZIP Area

76

Density / Sq Mi

$51,688

Median Household Income

$41,543

Median Earnings

$841

Median Rent

$136,900

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Medical center - The property includes separate rear parking for staff and associates.

Where is this medical center located?

The property is located at 2464 Main St Plantersville, MS.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: 2,961‑square‑foot medical clinic building; 0.71‑acre property; Currently configured as an updated medical clinic