Highway 98 West Office
For Sale
Contact for pricing
6659 U S Highway 98, Hattiesburg, MS
Office property with lake frontage on high-traffic corridor.
Property Size3,868 SF
Lot Size1.49 Acres
Price / SF$170.37
Days on Market325
Property Features for 6659 U S Highway 98
General Information
Standard status
Active
Size
3,868 SF
Lot size
1.49 Acres
Property subtype
OFFICE
Listing Agency:
London & Stetelman Realtors
(601) 268-8770
Listed By:
Markus Simmons · License #S-56296
(601) 270-5965
Source:
Moodyscre
Added: Oct 21, 2025
Changed: Aug 8
Last Checked: Sep 9 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 Realtors
Investment Insights
Based on property information with market context.
This office property is located on Highway 98 West in Hattiesburg, MS, offering over 300 feet of lake frontage with direct visibility from a high-traffic corridor. The property is suitable for medical, professional, or administrative office use. It is situated along Hattiesburg’s primary commercial corridor, minutes from Turtle Creek Mall, retail establishments, and dining amenities, with convenient access to Midtown and Oak Grove. The location benefits from strong surrounding demographics and professional developments and is located outside of the Hattiesburg City limits. The property is commercially zoned and includes ample on-site surface parking. It benefits from excellent exposure along Highway 98 West, with a traffic count of approximately 30,000 vehicles per day. Utilities include local water association services, septic sewer, and PRVEPA. The property is suitable for medical offices, professional services, and financial or administrative offices, presenting an opportunity for owner-occupancy or investment. The property size is 3,868 square feet.
Key Highlights
- Direct visibility and over 300 feet of lake frontage on Highway 98 West.
- Located on Hattiesburg's primary commercial corridor with ±30,000 vehicles per day.
- Ideal for medical, professional, or administrative office use.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,142
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$722,840
$722.8K
Cap Rate 7%
$516,314
$516.3K
Cap Rate 9%
$401,578
$401.6K
Market Conditions
NOI Build-Up for 3,868 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.3K $17.40/SF
− Vacancy
−$7.1K −$1.83/SF
EGI
$60.2K $15.57/SF
− OpEx
−$24.1K −$6.23/SF
NOI
$36.1K $9.34/SF
Area
Forrest County, MS
Vacancy
10.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$722,840
Cap Rate 7%
$516,314
Cap Rate 9%
$401,578
Alternative Uses
Best Use
Healthcare Medical
$516.3K
$451.8K – $602.4K
NOI $36,142 @ 7.0% cap · market cap 5.48%
Second Best
Office B
$465.5K
$407.3K – $543.1K
NOI $32,584 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$636.6K
$557.0K – $742.7K
NOI $44,559 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Office property with lake frontage on high-traffic corridor.
Where is this medical office space located?
The property is located at 6659 U S Highway 98 Hattiesburg, MS.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: Direct visibility and over 300 feet of lake frontage on Highway 98 West.; Located on Hattiesburg's primary commercial corridor with ±30,000 vehicles per day.; Ideal for medical, professional, or administrative office use.
