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    Lucedale Home with Shop Title is generated by Realmo AI

    6902 Tanner Williams Road, Lucedale, MS 39452

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    For Sale
    $314,000

    MULTI_FAMILY - Lucedale, MS

    Property size:
    1,700 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $184/SF
    Added:
    May 10, 2026
    Days on Market:
    14
    Last Refresh:
    May 23 at 9:06 am

    Property Features for 6902 Tanner Williams Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1
    Security features
    Security System
    Window features
    Blinds
    Patio and Porch features
    Porch
    Fireplace
    1
    Standard status
    Active
    APN
    0-67-00-004.000
    Size
    1,700 SF
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOT 4 RAMIE FARM S/D PH I PB 20-100 DB 1401-553 DB 1853-399 (52.05 MAP452.04)
    Tax Annual Amount
    1200

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank
    Water source
    Well

    Building Details

    Year built
    2002
    Floors in Building
    1
    Flooring type
    Vinyl, Tile - Ceramic, Carpet
    Roof type
    Shingle

    We can help!

    Listing Contact
    Betty Cobb

    Listing agent Betty Cobb License #B12937

    Listing office Coldwell Banker Smith Home Rltrs-Gautier 2000 Hwy 90, Gautier, MS

    Listing date May 10, 2026

    MLS# 4149018 Listing URL

    Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1,300 sq ft - 2‑Bay Shop with efficiency apartment (full bath and kitchen) for income or extended family.
    • Located in Highly Sought after East Central School District.
    • New Roof.
    • Whole house generator.
    • New well pump, well adapter and fittings.
    • Open floor plan with gas fireplace.

    Overview

    Located in the East Central School District, this property features a home with a new roof and new luxury vinyl tile in the family room. The open floor plan includes a gas fireplace. The kitchen and dining area offer a large pantry and stainless steel appliances. The split bedroom plan provides privacy, along with a double vanity and walk-in closet. A 1,300 square foot, 2-bay shop includes an efficiency apartment with a full bath and kitchen, suitable for extra income or extended family. The property also includes a whole-house generator and a new well pump, well adapter, and fittings. The shop is built with pex plumbing and is wired for 210 and 110. The shop could be converted to a second home, as it already includes a full bath and kitchen. The property size is 1,700 square feet and the lot size is 1 acre.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Hotel & Motel Kitchen & Bath Showroom Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Lucedale
    County
    George
    State
    Mississippi
    Longitude
    -88.493377
    Latitude
    30.723069

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    FAQs

    What type of property is this?
    Single family property - Home with shop and efficiency apartment in East Central School District.
    Where is this single family property located?
    The property is located at 6902 Tanner Williams Road Lucedale, MS.
    What is the asking price?
    The asking price for this property is $314,000.
    What are key features of this property?
    This property features: 1,300 sq ft - **2‑Bay Shop with efficiency apartment** (full bath and kitchen) for income or extended family.; Located in Highly Sought after East Central School District.; **New Roof.**
    (228) 990-7436
    We can help!
    Listing Contact
    Betty Cobb
    Real Estate License ID: B12937
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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.

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