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    2889 Lamar Blvd Oxford, MS 38655

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    For Lease
    Contact for pricing

    Oxford, MS Office/Medical Space - 3,000 SF

    Lot size:
    7,500 SF

    Property Features for 2889 Lamar Blvd

    General Information

    Property type
    Refrigerated & Cold Storage
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    7,500 SF
    Class
    C
    Total Rate
    11875

    Building Details

    Year Built/Renovated
    1970/2023
    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 2889 Lamar Blvd, Oxford, MS 38655 Contact us
    Unit

    $19 /Mo

    Size
    3,000 SF
    Contact us

    We can help!

    Listing Contact
    Joel Reeves
    Joel Reeves

    Listing Agency: Cannon | Cleary McGraw Real Estate Listing Agent: Joel Reeves

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 7,500 square foot commercial property, located in Oxford, MS's desirable South Lamar Boulevard area, presents a unique investment opportunity. The building, constructed in 1970 and extensively renovated in 2023, boasts a Class C rating and features a versatile layout suitable for various uses, including medical offices, traditional office spaces, and even refrigerated/cold storage. Currently, the property is single-tenant occupied, with approximately 3,000 square feet of readily available space. This section includes a commercial kitchen, adding to its adaptability. The building comprises one structure with two stories, offering ample space for expansion or customization. Situated in Lafayette County, this property benefits from excellent visibility and convenient access to major transportation routes. The asking price is $19 per square foot, plus NNN charges. Two-thirds of the building is already leased, demonstrating strong market demand and potential for immediate return on investment. The remaining 3,000 square feet offers a prime chance to secure a well-located, renovated space in a thriving Mississippi community. This flexible space is perfect for a business seeking a blend of modern amenities and established infrastructure.
    Property Profile Location Intelligence

    Current Use by Public Records

    Refrigerated & Cold Storage

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Oxford
    County
    Lafayette
    State
    Mississippi
    Longitude
    -89.5191757
    Latitude
    34.3357015

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    FAQs

    What type of property is this?
    Refrigerated & cold storage - Oxford, MS Office/Medical Space - 3,000 SF
    Where is this refrigerated & cold storage located?
    The property is located at 2889 Lamar Blvd Oxford, MS.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: 7,500 SF office/industrial/special purpose building in Oxford, MS.; Single-tenant occupancy.; 3,000 SF of vacant space available.
    (601) 942-0132 Call to check price and availability
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    2889 Lamar Blvd Oxford, MS 38655
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    Oxford, MS 38655
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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
    2889 Lamar Blvd Oxford, MS 38655
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Joel Reeves
    Joel Reeves
    (601) 942-0132 (662) 371-1000
    Learn more
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