Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Land in Hattiesburg Title is generated by Realmo AI

    56 Lake Forgetful, Hattiesburg, MS 39402

    View on Map
    Claim this Listing
    For Sale
    $2,450,000

    COMMERCIAL - Hattiesburg, MS

    Lot size:
    14.20 Acres
    Added:
    Jul 22, 2025
    Days on Market:
    317
    Last Refresh:
    Jun 3 at 8:06 pm

    Property Features for 56 Lake Forgetful

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-5
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Standard status
    Active
    Lot size
    14.20 Acres

    Taxes and HOA fees

    Tax Description
    14.2 acres mol, Lamar County PPIN 34312 and PPIN 13519
    Tax Annual Amount
    1107

    We can help!

    Listing Contact
    BECKY ENGLISH
    BECKY ENGLISH

    Listing agent BECKY ENGLISH License #S-40053

    Listing office RE/MAX Real Estate Partners 119 MAYFAIR RD, Hattiesburg, MS

    Listing date Jul 22, 2025

    MLS# 143413

    Copyright © 2026 Hattiesburg Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 14.2 commercial acres in prime West Hattiesburg location.
    • High‑traffic location directly behind Price and Company and bordering Sam's Club.
    • Suitable for a variety of commercial uses such as a retirement home, office park, or medical facility.
    • Existing house on the property in excellent condition.
    • Beautifully landscaped and maintained acreage.
    • Brick/Brick Veneer Construction Materials

    Overview

    This property features 14.2 commercial acres situated in West Hattiesburg. The acreage is landscaped and maintained. A house in excellent condition is located on the property, though no value was given to the house in the listing price. The location is directly behind Price and Company past the Met apartments, with the eastern property line bordering Sams. The property is zoned B-5. Potential uses include a retirement home, office park, or medical facility. The purchaser is responsible for verifying suitable uses with the City of Hattiesburg. The property contains 1800 square feet.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Hattiesburg
    County
    Forrest
    State
    Mississippi
    Longitude
    -89.383765
    Latitude
    31.317905

    Nearby Similar for Sale

    • $379,000
      3,952 SF

      Hattiesburg Commercial Property on Hwy 42

      Versatile commercial property with expansion potential on Hwy 42 Bypass.
      5619 Hwy 42, Hattiesburg, MS 39401
      View Details
    • $195,000
      1,518 SF

      Hattiesburg Commercial Office Opportunity

      Commercial office space with flexibility and convenient location in Hattiesburg.
      208 S 25th Avenue, Hattiesburg, MS 39401
      View Details
    • $343,000
      9,000 SF

      Hattiesburg Self-Storage Investment Opportunity

      Established self-storage facility in high-traffic Hattiesburg location.
      4364 Lincoln Rd Ext, Hattiesburg, MS 39402
      View Details
    • $850,000
      16,000 SF

      Hattiesburg Retail Building on Hardy

      16,000 SF retail building on heavily traveled Hardy Street.
      1305 Hardy St, Hattiesburg, MS 39401
      View Details
    • $664,525
      5,805 SF

      Hattiesburg Office Plaza For Sale

      Office plaza in the heart of Hattiesburg's office/retail district.
      17 Plaza Dr, Hattiesburg, MS 39402
      View Details
    • $249,000
      2,128 SF

      Hattiesburg Office Building For Sale

      Versatile office building in Hattiesburg, MS with ample parking.
      1000 S 17th Ave, Hattiesburg, MS 39401
      View Details
    • $369,000
      900 SF

      Industrial Land with Office Building

      3.25 acres with office on highly traveled Old Hwy 42.
      5205 Old Hwy 42, Hattiesburg, MS 39401
      View Details
    • $199,000
      5,500 SF

      Hattiesburg Retail Business Opportunity

      Large retail space with vendor rental potential on Hwy 49.
      4510 US Hwy 49, Hattiesburg, MS 39401
      View Details
    • $105,000
      750 SF

      Office and Retail Versatility

      Flexible office and retail setup with recent updates and dedicated parking for clients and staff in a convenient downtown area.
      307 3rd Ave, Hattiesburg, MS 39401
      View Details
    • $1,200,000

      Turnkey Bar and Pub Opportunity

      Established bar and pub for sale in Hattiesburg, MS.
      2100 W Pine St, Hattiesburg, MS 39402
      View Details
    • $385,000

      Freestanding Office Building

      For sale freestanding office building on a small lot in Hattiesburg, suited for owner-users seeking a compact commercial site.
      814 W Pine St, Hattiesburg, MS 39401
      View Details
    • $174,900
      1,500 SF

      Small Multi-Family Property

      For sale small multi-family asset on a compact lot in Hattiesburg, suited for investors seeking a manageable property footprint.
      203 Columbia St., Hattiesburg, MS 39401
      View Details

    FAQs

    What type of property is this?
    Commercial land - 14.2 acres in the heart of West Hattiesburg.
    Where is this commercial land located?
    The property is located at 56 Lake Forgetful Hattiesburg, MS.
    What is the asking price?
    The asking price for this property is $2,450,000.
    What are key features of this property?
    This property features: 14.2 commercial acres in prime West Hattiesburg location.; High‑traffic location directly behind Price and Company and bordering Sam's Club.; Suitable for a variety of commercial uses such as a retirement home, office park, or medical facility.
    (601) 606-1791
    We can help!
    Listing Contact
    BECKY ENGLISH
    BECKY ENGLISH
    Real Estate License ID: S-40053
    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
    56 Lake Forgetful, Hattiesburg, MS 39402
    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!