Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    409-412 Pearl Drive Pearl, MS 39208

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Multi-family property with strong rental history in Pearl, MS.

    Type:Multifamily
    Property size:
    8,400 SF
    Added:
    Dec 3, 2025
    Days on Market:
    119
    Last Refresh:
    Mar 25 at 10:45 pm

    Property Features for 409-412 Pearl Drive

    General Information

    Standard status
    Active
    Size
    8,400 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1953

    We can help!

    Listing Contact
    Micah McCullough, CCIM, SIOR

    Listing agent Micah McCullough, CCIM, SIOR License #MS #B-18980

    Listing office

    Listing date Dec 3, 2025

    Source Naiglobal

    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 Micah McCullough, CCIM, SIOR

    Overview

    18-Unit Multifamily Investment Opportunity

    This multi-family property at 409-412 Pearl Drive, Pearl, MS, features 18 units across four buildings, presenting an investment opportunity in a prime location. The property consists of studio-style units with 1 bedroom and 1 bath. Buildings 409-410 were constructed in the mid-1950s, Building 411 in 1967, and Building 412 in the mid-1970s; the roof of Building 412 was replaced around 2020. Seventeen of the 18 units have been upgraded. The property is located off of Hwy 80 in Pearl, MS, approximately 1/2 mile from Pearson Road and 2 miles from I-20. It is near major shopping centers, grocery stores, dining, retailers, and the Rankin County school district. The property is self-managed, with all utilities handled by the owner. The property has no laundry hookups on-site. The property has a 94% occupancy rate and strong rental history and income potential. The property's location provides convenient access to the airport.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pearl
    County
    Rankin
    State
    Mississippi
    Longitude
    -90.132
    Latitude
    32.2795

    Nearby Similar for Sale

    • $147,000

      Commercial Property in Growing Area

      Ideally located property perfect for retail or office in Pearl.
      Cross Park Drive, Pearl, MS 39208
      View Details
    • $1,275,000
      16,600 SF

      Functional Industrial Asset in Pearl

      16,600 SF industrial property on 9.3 acres in Pearl, MS.
      720 M & O Drive, Pearl, MS 39208
      View Details
    • $155,000
      1,020 SF

      Pearl, MS Retail/Office Condo

      Retail/office condo in Pearl/Brandon area, conveniently located on Highway 80.
      401 Cross Park Dr lot: B, Pearl, MS 39208
      View Details
    • $950,000
      7,550 SF

      Pearl Office Building Investment

      7,550 SF office building with six units in Pearl.
      109 Westside Cv, Pearl, MS 39208
      View Details
    • $1,300,000
      5,000 SF

      Flex Warehouse Buildings For Sale

      Two flex warehouse buildings on 1.2 acres in Pearl, MS.
      228 & 224 North Pearson Road, Pearl, MS 39208
      View Details
    • $249,995
      6,066 SF

      Pearl Office Building For Sale

      6,066 SF office building in a prime Pearl location.
      305 S Pearson Rd, Pearl, MS 39208
      View Details
    • $2,300,000
      3,045 SF

      Operating Restaurant with Drive-Thru

      Operating restaurant franchise with drive-thru and interstate visibility for sale.
      300 Riverwind East Dr, Pearl, MS 39208
      View Details
    • $13
      19,280 SF

      Updated Office Building with Lake View

      Updated office building with lake view, convenient access, and ample parking.
      200 Spring Lake Cove, Pearl, MS 39208
      View Details
    • $1,275,000
      16,600 SF

      Functional Industrial Asset in Pearl

      16,600 SF industrial property on 9.3 acres for sale.
      720 M And O Dr, Pearl, MS 39208
      View Details
    • Contact for pricing
      7,237 SF

      Restaurant in Retail Corridor

      Freestanding restaurant in a high-traffic retail area near I-20.
      430 Riverwind Dr, Pearl, MS 39208
      View Details
    • Contact for pricing
      7,000 SF

      Former Day Care/School Facility

      7,000 SF building ideal for daycare or school use.
      120 Head Start Ln, Pearl, MS 39208
      View Details
    • Contact for pricing

      Retail Space in Pearl, Mississippi

      Retail space with high visibility and access to major thoroughfares.
      127 S Pearson Rd, Pearl, MS 39208
      View Details

    FAQs

    What type of property is this?
    Apartment building - Multi-family property with strong rental history in Pearl, MS.
    Where is this apartment building located?
    The property is located at 409-412 Pearl Drive Pearl, MS.
    What are key features of this property?
    This property features: Excellent investment opportunity with strong rental history and income potential.; Boasting a high occupancy rate of 94%.; Convenient location near major shopping centers, grocery stores, dining, retailers, the airport and the Rankin County school district.
    (601) 981-6800
    We can help!
    Listing Contact
    Micah McCullough, CCIM, SIOR
    Real Estate License ID: MS #B-18980
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!