Two-Building Shopping
For Sale
$3,500,000
5076 Lakeland Drive, Flowood, MS 39232
Commercial Sale, Flowood, MS
Property Size10,000 SF
Lot Size2.89 Acres
Price / SF$350
Days on Market422
Property Features for 5076 Lakeland Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Standard status
Active
APN
G11-000044-00212
Size
10,000 SF
Lot size
2.89 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
A LOT 297.04 X 140.73 X 344.24 X 148.44 BEING APPROX 1.035 X IN SW4 SW4 & SE4 SW4
Tax Annual Amount
25452
Legal Description
A LOT 297.04 X 140.73 X 344.24 X 148.44 BEING APPROX 1.035 X IN SW4 SW4 & SE4 SW4
Amenities
separate utilities
high-clear ceilings
Building Details
Year built
2019
Listing Agency:
Real Broker
(228) 471-5211
Listed By:
Jeff Hadley · License #S50828
(601) 951-5318
Added: Sep 11, 2025
Changed: Oct 8
Last Checked: Nov 6 at 10:06AM
MLS# 4125360
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This shopping center comprises two modern commercial buildings completed in 2019. The property includes a freestanding IHOP restaurant of approximately 4,007 square feet and a three-unit retail center totaling approximately 6,000 square feet. The buildings have separate utilities and high-clear ceilings, providing distinct operating components within one commercial property.
The site is positioned on Lakeland Drive in Flowood, Mississippi, a corridor reported to carry approximately 45,000 vehicles per day. Nearby national retailers include Target, Walmart, Best Buy, Kroger, and Lowe’s. The surrounding five-mile trade area includes approximately 56,000 to 58,000 residents and 33,000 employees, with average household incomes exceeding $113,000.
The site is positioned on Lakeland Drive in Flowood, Mississippi, a corridor reported to carry approximately 45,000 vehicles per day. Nearby national retailers include Target, Walmart, Best Buy, Kroger, and Lowe’s. The surrounding five-mile trade area includes approximately 56,000 to 58,000 residents and 33,000 employees, with average household incomes exceeding $113,000.
Key Highlights
- Two commercial buildings completed in 2019
- Approximately 4,007 SF freestanding IHOP restaurant
- Approximately 6,000 SF three‑unit retail center
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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
45,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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
Similar Off Market Nearby
- Dogwood Festival — 120 Promenade Blvd, Flowood, MS 39232
- Dogwood Festival Market — 150 Dogwood Blvd, Flowood, MS 39232
- Coinstar Kiosk | Bitcoin ATM — Kroger - Delta, 110 Promenade Blvd, Flowood, MS 39232
- Dogwood Promenade — Lakeland Dr, Flowood, MS 39232
Frequently Asked Questions
What type of property is this?
Shopping center - Modern retail property with a freestanding restaurant and three-unit retail center along Lakeland Drive.
Where is this shopping center located?
The property is located at 5076 Lakeland Drive 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 completed in 2019; Approximately 4,007 SF freestanding IHOP restaurant; Approximately 6,000 SF three‑unit retail center
