Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Main Avenue Commercial Buildings Title is generated by Realmo AI

    501 S Main Avenue, Magee, MS 39111

    View on Map
    Claim this Listing
    For Sale
    $990,000

    Three commercial buildings for sale on Main Avenue.

    Type:Retail
    Property size:
    24,000 SF
    Price / SF:
    $41/SF
    Added:
    Sep 11, 2022
    Days on Market:
    1364
    Last Refresh:
    May 13 at 8:05 pm

    Property Features for 501 S Main Avenue

    General Information

    Standard status
    Active
    Size
    24,000 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1970

    We can help!

    Listing Contact
    Chris Curlee

    Listing agent Chris Curlee

    Listing office Main Street Realty LLC

    Listing date Sep 11, 2022

    Source Xome

    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

    HighLights

    • Three commercial buildings totaling 24,000 +/- sq. ft. sold as one.
    • Great location on Main Ave.
    • All buildings have current tenants.
    • Central Air Cooling.
    • Paved Driveway Parking.
    • Located Downtown on a City Road.

    Overview

    Three commercial buildings are available for sale as a single offering. The properties include a 13,000+/- square foot building, a 6,000+/- square foot building, and a 5,000+/- square foot building, for a total of approximately 24,000 square feet. The buildings are located on Main Avenue and are currently occupied by tenants. Further details are available upon request.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Building Supply Nail Salon Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Magee
    County
    Simpson
    State
    Mississippi
    Longitude
    -89.732335
    Latitude
    31.868118

    Nearby Similar for Sale

    • $1,200,000
      26,342 SF

      Class A Office Building

      26,342 SF office building, ideal location, ample parking.
      100 Pioneer Way, Magee, MS 39111
      View Details
    • $1,200,000
      26,342 SF

      Class A Office Building

      26,342 SF Class A office building in Magee, MS.
      100 Pioneer Way, Magee, MS 39111
      View Details
    • $800,000

      Turnkey Poultry Broiler Farm

      Four-house poultry farm near Magee, MS, with recent updates.
      2045 Highway 541 N, Magee, MS
      View Details
    • Contact for pricing
      3,700 SF

      Restaurant/Retail Opportunity in Magee, MS

      Restaurant or retail property with high visibility in Magee, MS.
      201 Pinola Dr, Magee, MS
      View Details
    • $119,000
      1,632 SF

      Downtown Retail or Office Space

      Historic downtown building suitable for retail or office use.
      124 Main Ave N, Magee, MS, 39111-3534
      View Details
    • $125,900
      1,872 SF

      Downtown Retail or Office Space

      Historic downtown building suitable for retail or office use.
      124 N Main Ave, Magee, MS 39111
      View Details
    • $990,000
      13,000 SF

      Three Commercial Buildings on Main

      Three commercial buildings on Main Ave, sold as one.
      501 Main Ave S, Magee, MS, 39111-4141
      View Details
    • $125,000
      1,872 SF

      Downtown Retail or Office Space

      Historic downtown building suitable for retail or office use.
      124 N Main Avenue, Magee, MS 39111
      View Details
    • $135,000
      4,000 SF

      Commercial Building on Highway 149

      Investment property with current tenant on Highway 149 in Magee.
      582 Simpson Highway 149, Magee, MS, 39111-8805
      View Details
    • $1,650,000
      1,853 SF

      Established Restaurant on High-Traffic Road

      Operational restaurant with loyal customer base and high traffic.
      1664 Us-49, Magee, MS 39111
      View Details
    • $1,165,000
      21,780 SF

      Commercial Building with Storage Units

      Commercial building with two units and 28 storage units.
      1529 Us 49, Magee, MS 39111
      View Details
    • $145,500
      2,900 SF

      Downtown Magee Retail Space

      2,900 sq ft retail space in historic downtown.
      102 N Main Avenue, Magee, MS 39111
      View Details

    FAQs

    What type of property is this?
    Retail space - Three commercial buildings for sale on Main Avenue.
    Where is this retail space located?
    The property is located at 501 S Main Avenue 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.
    (601) 849-3226
    We can help!
    Listing Contact
    Chris Curlee
    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

    Thank You for Inquiry
    501 S Main Avenue, Magee, MS 39111
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!