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    Property profile & analytics

    2640 Lakeland Dr Flowood, MS 39232-8823

    • Turn key restaurants
    • 2,569 SF
    • 0.65 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0302073
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 2640 Lakeland Dr

    Year built
    1978
    Lot size
    0.65 lot acres
    Property size
    2,569 SF
    Property type
    Turn key restaurants
    APN
    E10L000009 00000
    APU
    E10L00000900000

    Description

    This exceptional QSR/restaurant opportunity in Flowood, MS, presents a rare chance to acquire a thriving business situated on a high-traffic corridor. The 2,500 square foot building, constructed in 1978, boasts a convenient drive-thru/pick-up window, perfectly positioned on US Hwy 25 (Lakeland Drive), experiencing an average daily traffic count of 50,000 vehicles. The property sits on a 0.71-acre lot and offers a rear drive accessing Layfair Drive, providing efficient traffic flow and utilizing the traffic signal at the intersection of US Hwy 25, Layfair Drive, and Tree Tops Blvd. The property's strategic location benefits from proximity to major employers and institutions, including Merit Health River Oaks Hospital, Merit Health Woman's Hospital, Blue Cross/Blue Shield of Mississippi Headquarters, Mississippi Air National Guard Headquarters, and Jackson Prep schools. The asking price is $995,000. An additional 1.05-acre unimproved lot behind the restaurant is available for purchase at $350,000, providing potential for expansion or future development. This fee-simple ownership offers significant potential for return on investment in a prime commercial location. The property is zoned for commercial use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Flowood
    County
    Rankin
    State
    Mississippi
    Longitude
    -90.1145
    Latitude
    32.3301
    CBSA code
    27140
    CBSA name
    JACKSON, MS METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2019
    $3,467
    $0.00
    $0.00
    $59,224
    -
    $199,530
    $195,290
    $394,820

    Comparable in this City

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      117 Promenade Blvd

      RESTAURANT • 3,373 SF
      117 Promenade Blvd, Flowood, MS 39232-8018
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    • Value Estimation by Request
      3,435 SF

      115 Promenade Blvd

      RESTAURANT • 3,435 SF
      115 Promenade Blvd, Flowood, MS 39232-8018
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    • Value Estimation by Request
      6,122 SF

      223 Rdg Way

      RESTAURANT • 6,122 SF
      223 Rdg Way, Flowood, MS 39232-3305
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      3,492 SF

      200 Rdg Way

      RESTAURANT • 3,492 SF
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    • Value Estimation by Request
      6,799 SF

      1065 Riv Oaks Dr

      RESTAURANT • 6,799 SF
      1065 Riv Oaks Dr, Flowood, MS 39232-9577
      View Details

    Similar Nearby for Sale

    • $1,200,000
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      Turnkey Restaurant Opportunity in Flowood

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      View Details
    • $3,500,000
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      Flowood Commercial Buildings on Lakeland

      Two modern commercial buildings totaling 10,007 SF on 2.88 acres.
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      Flowood Commercial Property on 2.55 Acres

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      Lakeland Drive Bank Building

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    • Contact for pricing
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    Similar Nearby for Lease

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      Freestanding Restaurant Opportunity in Flowood

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    • $5 SF/Yr
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      Flowood Retail Building For Lease

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      Flowood Office/Warehouse Gem

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    • $3,500 /Mo
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      Retail Space in Flowood, MS

      2,040 SF retail space available for lease.
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      View Details
    • $15 SF/Yr
      20,750 SF

      Lakeland Square Plaza: Flowood Office Space

      Prime Flowood Office, Retail & Medical Space Available
      1000 Lakeland Square Ext, Flowood, MS 39232
      View Details
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    2640 Lakeland Dr
    Flowood, MS 39232-8823
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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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