Commercial Land For
For Sale
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6194 US-98, Hattiesburg, MS 39402
Commercial land available for sale.
Property Size6,246 SF
Price / SF$80.05
Days on Market2142
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Property Features for 6194 US-98
General Information
Standard status
Active
Size
6,246 SF
Class
B
Property subtype
Land
Listing Agency:
London & Stetelman
Listed By:
Andy Stetelman,SIOR,GRI · License #MS 8774
Source:
Crexi
Added: Dec 3, 2020
Changed: Oct 9
Last Checked: Oct 14 at 11:54PM
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
Investment Insights
Based on property information with market context.
This commercial land is available for sale, ground lease, or build-to-suit options. The property is elevated, offering view corridors and control of the west side of the property road with easements, directly accessible from Highway 98 West. The property size is 6246 square feet. Adjacent to the west, Starbucks, Golden Chick, and other establishments are under development.
Key Highlights
- Control of the west side of property road with easements.
- Elevated property with great view corridors.
- Adjacent to Starbucks and Golden Chick under development.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,204
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$624,080
$624.1K
Cap Rate 7%
$445,771
$445.8K
Cap Rate 9%
$346,711
$346.7K
Market Conditions
NOI Build-Up for 6,246 SF
Gross rent
$48.7K $7.80/SF
− Vacancy
−$4.1K −$0.66/SF
EGI
$44.6K $7.14/SF
− OpEx
−$13.4K −$2.14/SF
NOI
$31.2K $5.00/SF
Area
Forrest County, MS
Vacancy
8.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$624,080
Cap Rate 7%
$445,771
Cap Rate 9%
$346,711
Alternative Uses
Best Use
Office B
$751.7K
$657.7K – $876.9K
NOI $52,616 @ 7.0% cap · market cap 10.52%
Second Best
Industrial
$445.8K
$390.1K – $520.1K
NOI $31,204 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$1.03M
$899.4K – $1.20M
NOI $71,954 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
267
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?
Commercial land - Commercial land available for sale.
Where is this commercial land located?
The property is located at 6194 US-98 Hattiesburg, MS.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Control of the west side of property road with easements.; Elevated property with great view corridors.; Adjacent to Starbucks and Golden Chick under development.
