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    242 Southern St Hernando, MS 38632

    For Sale
    $350,000

    10-unit townhouse project, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 0.8-acre land parcel in desirable downtown Hernando, Mississippi (38632), presents a rare opportunity to develop a 10-unit townhouse community. Zoned for townhouse PUD development, this fee-simple property is priced at $350,000, or $10 per square foot. The site is located at 242 Southern St, conveniently situated near Highway 51, just south of the town square. The approved plans encompass two buildings, each featuring five townhouses. Each unit is designed with two bedrooms, two and a half bathrooms, and a double garage, ranging from 2,300 to 2,800 square feet. Upscale features include balconies and porches, providing ample outdoor living space. A shared common area, accessible only from the rear driveway, separates the units. All utilities are on-site, and the land has been cleared, minimizing development hurdles. This project capitalizes on the growing popularity of downtown Hernando, offering a much-needed housing option with no direct competition. The strategic location and high-demand product type make this a compelling investment opportunity. The project is designed to seamlessly integrate into the historic downtown area, offering residents upscale living with minimal exterior maintenance. This is a unique chance to contribute to the continued growth and vibrancy of Hernando's downtown core.

    Property Features for 242 Southern St

    General Information

    Property type
    Land
    Lot Size
    34,848 SF

    HighLights

    • Rare development opportunity in desirable downtown Hernando, MS.
    • High‑density residential zoning allows for a 10‑unit townhouse development.
    • Unique offering; no competing townhouse projects in the market.
    • Each townhouse features porches, balconies, and a two‑car garage.
    • Site is fully cleared and utilities are available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hernando
    County
    Desoto
    State
    Mississippi
    Longitude
    -89.99411829
    Latitude
    34.81995272

    Nearby Comparable

    • $238,000
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      Hernando Commercial Land Investment

      Prime .39-acre commercial lot in Hernando, MS
      2700 Highway 51, Hernando, MS 38632
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    • $550,000
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      Established Car Wash Business Opportunity

      Turnkey car wash business in prime location near Hernando square.
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      Hernando Office Building - Prime Location

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    • $440,000
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      Hernando Commercial Automotive Business Opportunity

      Established automotive business with shop, office, and included equipment.
      310 E St S, Hernando, MS 38632
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    • New
      $375,000
      Pending

      Hernando Industrial Park Land

      3.97 acre lot in Hernando Industrial Park.
      450 Vaiden Dr, Hernando, MS 38632
      View Details

    Nearby Similar for Sale

    • $1,199,000
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      Hernando Multifamily Property with Acreage

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    • $440,000
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      Hernando Commercial Automotive Business Opportunity

      Established automotive business with shop, office, and included equipment.
      310 E St S, Hernando, MS 38632
      View Details
    • $550,000
      3,663 SF

      Established Car Wash Business Opportunity

      Turnkey car wash business in prime location near Hernando square.
      2934 Highway 51 S, Hernando, MS 38632
      View Details
    • $600,000
      2,371 SF

      Hernando Office Building - Prime Location

      Historic Charm, Modern Potential, High Visibility
      2475 Memphis St, Hernando, MS 38632
      View Details

    FAQs

    What type of property is this?
    Land - 10-unit townhouse project, prime location.
    Where is this land located?
    The property is located at 242 Southern St Hernando, MS.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Rare development opportunity in desirable downtown Hernando, MS.; High-density residential zoning allows for a 10-unit townhouse development.; Unique offering; no competing townhouse projects in the market.
    Request Owner's contact information
    242 Southern St Hernando, MS 38632
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    Hernando, MS 38632
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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
    242 Southern St Hernando, MS 38632
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