Cold Storage Facility With 5
For Sale
$735,000
96 Wesley Grant Rd, Hattiesburg, MS 39401
Temperature-controlled industrial facility with insulated storage, office space, refrigeration infrastructure, and Interstate 59 access.
Property Size4,855 SF
Lot Size5.00 Acres
Price / SF$151.55
Days on Market52
Property Features for 96 Wesley Grant Rd
General Information
Standard status
Active
Size
4,855 SF
Lot size
5.00 Acres
Warehouse & Industrial
Office Build-Out
1,000 SF
Cold Storage
Yes
Cold Storage Area
3,850 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1969
Buildings
1
Building Size
4,855 SF
Listing Agency:
Farris Property Group
(601) 596-7024
Listed By:
Chandler W Farris · License #B-21903
Source:
Fiorellaavenue
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 29 at 11:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Farris Property Group
Investment Insights
Based on property information with market context.
This refrigerated and cold storage property at 96 Wesley Grant Road includes approximately 3,850 square feet of heavily insulated cold storage space, roughly 1,000 square feet of office area, and two bathrooms. A semi tractor-trailer converted into an additional freezer unit expands the temperature-controlled configuration, while existing refrigeration infrastructure supports cold-chain operations. Five bay doors provide loading and unloading access.
The property occupies 5 usable acres in Hattiesburg, Mississippi, with convenient access to Interstate 59. The site provides room for truck maneuvering, trailer parking, expansion, or outdoor storage. Built in 1969, the facility combines dedicated refrigerated space, supporting offices, and a substantial industrial site.
The property occupies 5 usable acres in Hattiesburg, Mississippi, with convenient access to Interstate 59. The site provides room for truck maneuvering, trailer parking, expansion, or outdoor storage. Built in 1969, the facility combines dedicated refrigerated space, supporting offices, and a substantial industrial site.
Key Highlights
- Approximately 3,850 square feet of heavily insulated cold storage space
- Roughly 1,000 square feet of office area with two bathrooms
- Five bay doors for loading and unloading
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,279
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$565,580
$565.6K
Cap Rate 7%
$403,986
$404.0K
Cap Rate 9%
$314,211
$314.2K
Market Conditions
NOI Build-Up for 4,850 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.1K $7.44/SF
− Vacancy
−$2.8K −$0.58/SF
EGI
$33.3K $6.86/SF
− OpEx
−$5.0K −$1.03/SF
NOI
$28.3K $5.83/SF
Area
Forrest County, MS
Vacancy
7.80%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$565,580
Cap Rate 7%
$403,986
Cap Rate 9%
$314,211
Alternative Uses
Best Use
Warehouse
$404.0K
$353.5K – $471.3K
NOI $28,279 @ 7.0% cap · market cap 3.85%
Second Best
Industrial
$346.1K
$302.9K – $403.8K
NOI $24,230 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$798.2K
$698.4K – $931.2K
NOI $55,872 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 39401, MS
43,183
Population
20,232
Households
2.1
Avg Household Size
32
Median Age
28%
College-Educated
89%
High-School Grad
188.9 sq mi
ZIP Area
229
Density / Sq Mi
$40,287
Median Household Income
$25,697
Median Earnings
$932
Median Rent
$120,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Refrigerated & cold storage - Temperature-controlled industrial facility with insulated storage, office space, refrigeration infrastructure, and Interstate 59 access.
Where is this refrigerated & cold storage located?
The property is located at 96 Wesley Grant Rd Hattiesburg, MS.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Approximately 3,850 square feet of heavily insulated cold storage space; Roughly 1,000 square feet of office area with two bathrooms; Five bay doors for loading and unloading
