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    1123 Ms-42 Sumrall, MS 39482

    • Neighborhood centers
    • 13,591 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 1123 Ms-42

    Property size
    13,591 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    This exceptional 13,591-square-foot retail property, located at 1123 Highway 42 in Sumrall, Mississippi, presents a significant opportunity for a single tenant. Situated on a 1.27-acre lot in Forrest County, this strip center offers ample space for a variety of retail businesses. The entire building is currently vacant, providing a blank canvas for a new tenant to customize the space to their specific needs. The property's address is 1123 MS-42, Hattiesburg, MS 39482, offering convenient access and high visibility along a major thoroughfare. The property type is classified as retail, specifically a strip center, making it ideal for businesses requiring high foot traffic and easy access for customers. With its substantial size and prime location, this property is poised for immediate occupancy and represents a rare opportunity in the Sumrall market. The property's geographic coordinates are latitude 31.3992391 and longitude -89.5874819. This is a single-tenant property, offering the unique advantage of complete control and customization of the space. Serious inquiries are encouraged to explore this exceptional retail opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Sumrall
    County
    Forrest
    State
    Mississippi
    Longitude
    -89.5875
    Latitude
    31.3992

    Comparable in this City

    • Value Estimation by Request
      7,650 SF

      28 Rayburn Rd

      SHOPPING CENTER, STRIP CENTER • 7,650 SF
      28 Rayburn Rd, Sumrall, MS 39482-5418
      View Details
    • Value Estimation by Request
      3,600 SF

      Hwy 589th Preston St St

      SHOPPING CENTER, STRIP CENTER • 3,600 SF
      Hwy 589th Preston St St, Sumrall, MS 39482
      View Details
    • Value Estimation by Request
      36,958 SF

      1039 Hwy 42

      SHOPPING CENTER, STRIP CENTER • 36,958 SF
      1039 Hwy 42, Sumrall, MS 39482-4478
      View Details
    • Value Estimation by Request
      7,309 SF

      7459 Us-98

      Retail properties • 7,309 SF
      7459 Us-98, Sumrall, MS 39482
      View Details
    • Value Estimation by Request
      1.72 Acres

      8522 Us-98

      Individual retail properties • 1.72 Acres
      8522 Us-98, Sumrall, MS 39482
      View Details
    • Value Estimation by Request
      2.60 Acres

      8567 Us Hwy 98

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2.60 Acres
      8567 Us Hwy 98, Sumrall, MS 39482
      View Details

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    1123 Ms-42
    Sumrall, MS 39482
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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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