Three Commercial Buildings on
For Sale
$990,000
501 Main Ave S, Magee, MS 39111
Three commercial buildings on Main Ave, sold as one.
Property Size13,000 SF
Lot Size1.83 Acres
Price / SF$76.15
Days on Market757
Property Features for 501 Main Ave S
General Information
Standard status
Active
Size
13,000 SF
Lot size
1.83 Acres
Taxes and HOA fees
Annual Taxes
$10,273
Listing Agency:
Main Street Realty LLC
(601) 849-3226
Listed By:
Chris Curlee · License #B15845
(601) 849-3226
Source:
Exprealty
Added: Jul 15, 2024
Changed: Aug 8
Last Checked: Jul 30 at 6:51AM
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 Main Street Realty LLC
Investment Insights
Based on property information with market context.
The property features three commercial buildings. One building offers approximately 13,000 square feet, another approximately 6,000 square feet, and the third approximately 5,000 square feet. The buildings are located on Main Avenue and are currently occupied by tenants. The three properties are being sold together as one unit.
Key Highlights
- Three commercial buildings totaling 24,000 +/- sq. ft. sold as one.
- Great location on Main Ave.
- All buildings have current tenants.
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
$70,523
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
7.12%
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%
$1,410,460
$1.4M
Cap Rate 7%
$1,007,471
$1.0M
Cap Rate 9%
$783,589
$783.6K
Market Conditions
NOI Build-Up for 13,000 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
$85.8K $6.60/SF
− Vacancy
−$2.8K −$0.22/SF
EGI
$83.0K $6.38/SF
− OpEx
−$12.4K −$0.96/SF
NOI
$70.5K $5.42/SF
Area
Simpson County, MS
Vacancy
3.30%
Lease Rate
$6.60 /SF/Yr
Expense Ratio
15.00%
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%
$1,410,460
Cap Rate 7%
$1,007,471
Cap Rate 9%
$783,589
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.15M
NOI $128,856 @ 7.0% cap · market cap 13.02%
Second Best
Office B
$1.74M
$1.52M – $2.02M
NOI $121,493 @ 7.0% cap · market cap 12.27%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $155,938 @ 7.0% cap · market cap 15.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Explore this area
Business Placement
Demographics for 39111, MS
9,517
Population
4,049
Households
2.4
Avg Household Size
39
Median Age
15%
College-Educated
79%
High-School Grad
141.5 sq mi
ZIP Area
67
Density / Sq Mi
$46,399
Median Household Income
$30,586
Median Earnings
$794
Median Rent
$119,200
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?
Retail space - Three commercial buildings on Main Ave, sold as one.
Where is this retail space located?
The property is located at 501 Main Ave S Magee, MS.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Three commercial buildings totaling 24,000 +/- sq. ft. sold as one.; Great location on Main Ave.; All buildings have current tenants.
