Updated Office
For Sale
Contact for pricing
307 3rd Ave, Hattiesburg, MS 39401
The layout includes two private offices, reception, storage, and a restroom.
Property Size750 SF
Lot Size0.05 Acres
Price / SF$140
Days on Market133
Property Features for 307 3rd Ave
General Information
Standard status
Active
Size
750 SF
Class
B
Total Parking Spaces
3
Lot size
0.05 Acres
Property subtype
Office, Retail
Zoning
B-1
Investment Type
Owner/User
Building Details
Year Built
1979
Year Renovated
2022
Buildings
1
Stories
1
Units
1
Listing Agency:
The Real Estate Center of Lead-Deadwood
Listed By:
Chad Cranford · License #MS 20397
Source:
Crexi
Added: Apr 21
Changed: Aug 30
Last Checked: Aug 30 at 9:33PM
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 The Real Estate Center of Lead-Deadwood
Investment Insights
Based on property information with market context.
This 750-square-foot office unit, built in 1979, provides a compact commercial layout with two private offices, a reception area, storage room, and one restroom. Fresh paint and updated lighting completed within the past two years give the interior a refreshed professional finish. B-1 zoning is in place for the property.
The building sits at 307 3rd Ave in Hattiesburg, directly off Hardy Street and near downtown and USM. The 35-by-60-foot lot includes three on-site parking spaces, providing dedicated convenience for visitors and staff. Its office configuration can accommodate professional or service-oriented operations, while the retail use identified for the property adds flexibility for an owner-user or investor.
The building sits at 307 3rd Ave in Hattiesburg, directly off Hardy Street and near downtown and USM. The 35-by-60-foot lot includes three on-site parking spaces, providing dedicated convenience for visitors and staff. Its office configuration can accommodate professional or service-oriented operations, while the retail use identified for the property adds flexibility for an owner-user or investor.
Key Highlights
- ±750 SF office unit with two private offices, reception, storage, and one restroom
- Fresh paint and modern lighting completed within the past two years
- B‑1 zoning
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
$6,318
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
6.02%
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%
$126,360
$126.4K
Cap Rate 7%
$90,257
$90.3K
Cap Rate 9%
$70,200
$70.2K
Market Conditions
NOI Build-Up for 750 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
$10.8K $14.40/SF
− Vacancy
−$2.4K −$3.17/SF
EGI
$8.4K $11.23/SF
− OpEx
−$2.1K −$2.81/SF
NOI
$6.3K $8.42/SF
Area
Forrest County, MS
Vacancy
22.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$126,360
Cap Rate 7%
$90,257
Cap Rate 9%
$70,200
Alternative Uses
Best Use
Office B
$90.3K
$79.0K – $105.3K
NOI $6,318 @ 7.0% cap · market cap 6.02%
Second Best
Retail
$82.4K
$72.1K – $96.1K
NOI $5,765 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$123.4K
$108.0K – $144.0K
NOI $8,640 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,255
Businesses Nearby
Explore this area
Business Placement
Demographics for 39401, MS
43,183
Population
20,232
Households
2.1
Avg Household Size
32
Median Age
28%
College-Educated
89%
High-School Grad
188.9 sq mi
ZIP Area
229
Density / Sq Mi
$40,287
Median Household Income
$25,697
Median Earnings
$932
Median Rent
$120,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - The layout includes two private offices, reception, storage, and a restroom.
Where is this office units located?
The property is located at 307 3rd Ave Hattiesburg, MS.
What is the asking price?
The asking price for this property is $105,000.
What are key features of this property?
This property features: ±750 SF office unit with two private offices, reception, storage, and one restroom; Fresh paint and modern lighting completed within the past two years; B‑1 zoning
