Listing Agency: Real Broker, LLC. m***@therealbrokerage.com Show Phone

Listed By: Beau Davis · License #S56272 Show Phone

Added: Oct 20 Changed: Oct 22 Last Checked: Oct 22 at 2:06PM

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MLS# 4166062

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The property includes two commercial buildings totaling approximately 8,000 square feet. The retail center is configured as seven units, with five occupied and two vacant. A separate office building is also vacant, offering additional space for occupancy or leasing.

Set on 1.17 acres, the property has frontage on US Hwy 49 and on-site parking. The combination of retail and office space provides distinct occupancy options within one commercial property.

Key Highlights

• Two commercial buildings totaling approximately 8,000 square feet
• Seven‑unit strip center with 5 occupied units and 2 vacant units
• Separate vacant office building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$79,296

Cap Rate

6.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,585,920 $1.6M

Cap Rate 7%

$1,132,800 $1.1M

Cap Rate 9%

$881,067 $881.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,000 SF

Gross rent

$120.0K $15.00/SF

− Vacancy

−$6.7K −$0.84/SF

EGI

$113.3K $14.16/SF

− OpEx

−$34.0K −$4.25/SF

NOI

$79.3K $9.91/SF

Area

Simpson County, MS

Vacancy

5.60%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,585,920

Cap Rate 7%

$1,132,800

Cap Rate 9%

$881,067

Alternative Uses

Best Use

Retail

$1.13M

$991.2K – $1.32M (±1% cap)

NOI $79,296 @ 7.0% cap · market cap 6.61%

Second Best

Office B

$1.07M

$934.6K – $1.25M (±1% cap)

NOI $74,765 @ 7.0% cap · market cap 6.23%

Theoretical Best

Office A

$1.37M

$1.20M – $1.60M (±1% cap)

NOI $95,962 @ 7.0% cap · market cap 8.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Strip malls

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

183

Businesses Nearby

Explore this area Business Placement

Demographics for 39114, MS

9,673

Population

4,538

Households

2.1

Avg Household Size

41

Median Age

21%

College-Educated

84%

High-School Grad

190.4 sq mi

ZIP Area

51

Density / Sq Mi

$60,486

Median Household Income

$37,571

Median Earnings

$846

Median Rent

$116,100

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

Frequently Asked Questions

What type of property is this?

Strip mall - A vacant office building provides additional space alongside the multi-tenant retail center.

Where is this strip mall located?

The property is located at 3651 U.s 49 Mendenhall, MS.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: Two commercial buildings totaling approximately 8,000 square feet; Seven‑unit strip center with 5 occupied units and 2 vacant units; Separate vacant office building