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    438 Katherine Dr Flowood, MS 39232

    Sponsored
    For Sale
    $1,154,795

    Class A Office, 6,384 SF, 8.25% Cap Rate

    Property size:
    6,384 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A executive office building, located at 438 Katherine Drive in Flowood, Mississippi, presents a compelling investment opportunity. The 6,384 square foot property boasts 100% occupancy with two national credit tenants, USI and Vericlaim, ensuring a stable and predictable income stream. Built in 2008 and extensively renovated in 2023, including a new roof, the building is in excellent condition and well-maintained. The property offers a strong capitalization rate of 8.25%, making it an attractive addition to any portfolio. Situated in the robust Flowood submarket, with a zip code of 39232, this asset benefits from a prime location within Rankin County. The asking price is $1,154,795. This turnkey investment provides immediate cash flow and long-term growth potential. The property's strong tenant roster and recent renovations minimize future capital expenditures, maximizing return on investment. This is a rare opportunity to acquire a high-quality, fully leased office building in a desirable Mississippi location. Detailed financial information is available upon request.

    Property Features for 438 Katherine Dr

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    6,384 SF
    Class
    A

    Building Details

    Year Built/Renovated
    2008/2023

    HighLights

    • $1,005,692 Purchase Price
    • Fully Leased Office Building
    • National Tenants: USI and VeriClaim
    • 8.25% Cap Rate
    • Excellent Flowood, MS Location
    • New Roof (2023)
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Building Supply Spa & Massage Wholesale Shop Hair Salon Realty agency Auto Repair Shop Dental Office Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Flowood
    County
    Rankin
    State
    Mississippi
    Longitude
    -90.0935776
    Latitude
    32.3319086

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    FAQs

    What type of property is this?
    Office Property / Space - Class A Office, 6,384 SF, 8.25% Cap Rate
    Where is this office property / space located?
    The property is located at 438 Katherine Dr Flowood, MS.
    What is the asking price?
    The asking price for this property is $1,154,795.
    What are key features of this property?
    This property features: $1,005,692 Purchase Price; Fully Leased Office Building; National Tenants: USI and VeriClaim
    (601) 586-3220
    Request Owner's contact information
    438 Katherine Dr Flowood, MS 39232
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    Flowood, MS 39232
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    Realmo Value Estimation

    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.

    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.

    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
    438 Katherine Dr Flowood, MS 39232
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