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    Retail Shopping Center with Vacant Suites Title is generated by Realmo AI

    641 Highway 1 South, Greenville, MS 38701

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    New
    For Sale
    $1,450,000

    72% occupied center along Highway 1 South, anchored by Beauty Supply, Nail Pro, and Government Services, with lease-ready space available.

    Type:Retail
    Property size:
    31,503 SF
    Price / SF:
    $46/SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 1:57 am

    Property Features for 641 Highway 1 South

    General Information

    Standard status
    Active
    Size
    31,503 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Brian Califf, CCIM

    Listing agent Brian Califf, CCIM License #MS # S-41945

    Listing office NAI | Saig Company

    Listing date Jun 3, 2026

    Source Naiglobal

    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 NAI | Saig Company

    HighLights

    • Retail center at 633‑645 Highway 1 S totaling 31,503 SF, currently 72% occupied
    • Anchored by three tenants: Beauty Supply, Nail Pro, and Government Services
    • 8,742 SF vacant and available for lease in suites 641 and 645
    • Vacant suites are offered at below‑market gross rents (per listing remarks)
    • Sale price listed at $1,450,000 with stabilized NOI of $159,869 and in‑place NOI of $88,101

    Overview

    This shopping center at 633-645 Highway 1 S includes 31,503 square feet and is currently 72% occupied. Anchors include three tenants: Beauty Supply, Nail Pro, and Government Services. Retail tenants occupy a portion of the center, and there is 8,742 square feet available for lease at below-market rents, located in suites 641 and 645.

    The property sits along a key commercial corridor with established nearby retail including Pizza Hut, Old Miss, River City Furniture, and Walgreens. This tenant mix and surrounding draw support straightforward retail access and visibility for new or expanding businesses.

    For buyers and brokers seeking a retail investment with immediate leasing flexibility, the center offers a defined vacancy in specific suites that can be marketed to retailers compatible with the existing tenant mix. Prospective tenants can also evaluate the currently occupied environment, with anchor presence from Beauty Supply, Nail Pro, and Government Services, while reviewing lease terms tied to the available suites 641 and 645.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

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

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

    Similar Places Nearby

    • Coin Cloud Bitcoin ATM — Martin Luther King Junior Boulevard, 595 MS-1, Greenville, MS 38701

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Washington
    State
    Mississippi
    Longitude
    -91.037427
    Latitude
    33.416491

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    FAQs

    What type of property is this?
    Shopping center - 72% occupied center along Highway 1 South, anchored by Beauty Supply, Nail Pro, and Government Services, with lease-ready space available.
    Where is this shopping center located?
    The property is located at 641 Highway 1 South Greenville, MS.
    What is the asking price?
    The asking price for this property is $1,450,000.
    What are key features of this property?
    This property features: Retail center at 633‑645 Highway 1 S totaling 31,503 SF, currently 72% occupied; Anchored by three tenants: Beauty Supply, Nail Pro, and Government Services; 8,742 SF vacant and available for lease in suites 641 and 645
    (901) 830-0421
    We can help!
    Listing Contact
    Brian Califf, CCIM
    Real Estate License ID: MS # S-41945
    Learn More
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    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
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    641 Highway 1 South, Greenville, MS 38701
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