Two-Building Shopping
For Sale
$3,500,000
5076 Lakeland Dr, Flowood, MS 39232
Includes a freestanding restaurant and a separate three-unit retail center with individual utility services.
Property Size10,000 SF
Price / SF$350
Days on Market114
Property Features for 5076 Lakeland Dr
General Information
Standard status
Active
Size
10,000 SF
Building Details
Year Built
2019
Listing Agency:
Real Broker
Listed By:
Jeff Hadley · License #S50828
(601) 951-5318
Source:
Fiorellaavenue
Added: Jun 24
Changed: Oct 14
Last Checked: Oct 7 at 4:05PM
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 Real Broker
Investment Insights
Based on property information with market context.
This shopping center consists of two commercial buildings constructed in 2019. The freestanding IHOP restaurant contains approximately 4,007 SF, while the accompanying retail center provides approximately 6,000 SF across three units. The buildings have separate utilities and high-clear ceilings, creating distinct operating and ownership profiles within one property. The site encompasses approximately 2.88 acres.
The property is located on Lakeland Drive in Flowood, within a commercial corridor supported by approximately 45 K vehicles per day. Nearby national retailers include Target, Walmart, Best Buy, Kroger, and Lowe’s. The five-mile trade area includes approximately 56 K-58 K residents and 33 K employees, with average household incomes exceeding $113 K.
The property is located on Lakeland Drive in Flowood, within a commercial corridor supported by approximately 45 K vehicles per day. Nearby national retailers include Target, Walmart, Best Buy, Kroger, and Lowe’s. The five-mile trade area includes approximately 56 K-58 K residents and 33 K employees, with average household incomes exceeding $113 K.
Key Highlights
- Two commercial buildings constructed in 2019
- Freestanding IHOP restaurant measures +/- 4,007 SF
- Three‑unit retail center totals +/- 6,000 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,900
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,538,000
$2.5M
Cap Rate 7%
$1,812,857
$1.8M
Cap Rate 9%
$1,410,000
$1.4M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$180.0K $18.00/SF
− Vacancy
−$10.8K −$1.08/SF
EGI
$169.2K $16.92/SF
− OpEx
−$42.3K −$4.23/SF
NOI
$126.9K $12.69/SF
Area
Rankin County, MS
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,538,000
Cap Rate 7%
$1,812,857
Cap Rate 9%
$1,410,000
Alternative Uses
Best Use
Specialty Retail
$1.81M
$1.59M – $2.12M
NOI $126,900 @ 7.0% cap · market cap 3.63%
Second Best
Retail
$1.50M
$1.31M – $1.75M
NOI $105,017 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $192,000 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
60k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 63%
Dining 19%
Home Improvements & Furnishings 18%
PetSmart
Shops & Services
24,286 visits/mo
0.5 miles
Shell
Shops & Services
13,617 visits/mo
0.2 miles
Kirkland's
Home Improvements & Furnishings
8,065 visits/mo
0.4 miles
IHOP
Dining
6,892 visits/mo
0.1 miles
Shipley Do-Nuts
Dining
4,630 visits/mo
0.3 miles
Demographics for 39232, MS
9,052
Population
4,204
Households
2.2
Avg Household Size
37
Median Age
51%
College-Educated
97%
High-School Grad
25.6 sq mi
ZIP Area
354
Density / Sq Mi
$83,389
Median Household Income
$49,760
Median Earnings
$1,412
Median Rent
$293,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - Includes a freestanding restaurant and a separate three-unit retail center with individual utility services.
Where is this shopping center located?
The property is located at 5076 Lakeland Dr Flowood, MS.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Two commercial buildings constructed in 2019; Freestanding IHOP restaurant measures +/- 4,007 SF; Three‑unit retail center totals +/- 6,000 SF
