Office Building with Adjacent
For Sale
Contact for pricing
Pending
6184 US-98, Hattiesburg, MS 39402
For sale office building package includes included land and optional additional adjacent land; seller financing is available.
Property Size30,174 SF
Days on Market1166
Property Features for 6184 US-98
General Information
Standard status
Pending
Size
30,174 SF
Class
C
Property subtype
Office
Lease Type
Modified Gross
Investment Type
Institutional
Building Details
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
London & Stetelman
Listed By:
Andy Stetelman,SIOR,GRI · License #MS 8774
Source:
Crexi
Added: Aug 17, 2023
Changed: Oct 13
Last Checked: Oct 24 at 4:19PM
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 London & Stetelman
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Investment Insights
Based on property information with market context.
This for-sale offering includes an office building along with a 1.62+/- land footprint. A separate 2.79+/- parcel of land adjacent to the south is available by negotiation, allowing the buyer to potentially expand beyond the included footprint.
The property is located at 6184 US-98 in Hattiesburg, Mississippi. Ownership is open to seller financing, which may provide additional flexibility for qualified buyers looking to structure the transaction.
The property is located at 6184 US-98 in Hattiesburg, Mississippi. Ownership is open to seller financing, which may provide additional flexibility for qualified buyers looking to structure the transaction.
Key Highlights
- Office building included in the purchase price with a 1.62+/- land footprint
- Additional 2.79+/- AC of adjacent land available to purchase by negotiation
- Seller financing is available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$254,186
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,083,720
$5.1M
Cap Rate 7%
$3,631,229
$3.6M
Cap Rate 9%
$2,824,289
$2.8M
Market Conditions
NOI Build-Up for 30,174 SF
Gross rent
$434.5K $14.40/SF
− Vacancy
−$95.6K −$3.17/SF
EGI
$338.9K $11.23/SF
− OpEx
−$84.7K −$2.81/SF
NOI
$254.2K $8.42/SF
Area
Forrest County, MS
Vacancy
22.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,083,720
Cap Rate 7%
$3,631,229
Cap Rate 9%
$2,824,289
Alternative Uses
Best Use
Office B
$3.63M
$3.18M – $4.24M
NOI $254,186 @ 7.0% cap · market cap 8.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.97M
$4.35M – $5.79M
NOI $347,604 @ 7.0% cap · market cap 11.21%
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
757
Businesses Nearby
Explore this area
Business Placement
Demographics for 39402, MS
44,633
Population
18,780
Households
2.4
Avg Household Size
35
Median Age
46%
College-Educated
95%
High-School Grad
93.2 sq mi
ZIP Area
479
Density / Sq Mi
$71,254
Median Household Income
$41,552
Median Earnings
$1,183
Median Rent
$255,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - For sale office building package includes included land and optional additional adjacent land; seller financing is available.
Where is this office building located?
The property is located at 6184 US-98 Hattiesburg, MS.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Office building included in the purchase price with a 1.62+/- land footprint; Additional 2.79+/- AC of adjacent land available to purchase by negotiation; Seller financing is available
