Office Building on Highway
For Sale
Contact for pricing
7379 US-98, Hattiesburg, MS 39402
4,342 SF office building on approximately 3 acres.
Property Size4,342 SF
Lot Size3.00 Acres
Price / SF$207.28
Days on Market780
Property Features for 7379 US-98
General Information
Standard status
Active
Size
4,342 SF
Class
B
Lot size
3.00 Acres
Property subtype
Office
Zoning
Lamar County
Building Details
Year Built
2007
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Gulf States Commercial Properties, LLC
Listed By:
Greg Brett · License #MS S-51853
(601) 297-1780
Source:
Crexi
Added: Aug 27, 2024
Changed: Oct 15
Last Checked: Oct 14 at 11:31PM
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 Gulf States Commercial Properties, LLC
Investment Insights
Based on property information with market context.
This is a 4,342 square foot office building situated on approximately 3 acres. The property fronts Highway 98, located just west of Highway 589. The building is currently occupied, and showings are available by appointment only.
Key Highlights
- 4,342 SF office space available
- +/- 3 acre lot size
- Frontage on Hwy 98
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,577
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,540
$731.5K
Cap Rate 7%
$522,529
$522.5K
Cap Rate 9%
$406,411
$406.4K
Market Conditions
NOI Build-Up for 4,342 SF
Gross rent
$62.5K $14.40/SF
− Vacancy
−$13.8K −$3.17/SF
EGI
$48.8K $11.23/SF
− OpEx
−$12.2K −$2.81/SF
NOI
$36.6K $8.42/SF
Area
Forrest County, MS
Vacancy
22.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,540
Cap Rate 7%
$522,529
Cap Rate 9%
$406,411
Alternative Uses
Best Use
Office B
$522.5K
$457.2K – $609.6K
NOI $36,577 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$714.6K
$625.3K – $833.7K
NOI $50,020 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 39402, MS
44,633
Population
18,780
Households
2.4
Avg Household Size
35
Median Age
46%
College-Educated
95%
High-School Grad
93.2 sq mi
ZIP Area
479
Density / Sq Mi
$71,254
Median Household Income
$41,552
Median Earnings
$1,183
Median Rent
$255,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - 4,342 SF office building on approximately 3 acres.
Where is this office building located?
The property is located at 7379 US-98 Hattiesburg, MS.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 4,342 SF office space available; +/- 3 acre lot size; Frontage on Hwy 98
