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    Florence Dr Florence, MS 39073
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    Florence Dr, Florence, MS 39073

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    • Land
    • 20.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Florence Dr

    Lot size
    20.00 lot acres
    Property type
    Land

    Description

    This exceptional 20-acre commercial land parcel presents a unique investment opportunity in Florence, Mississippi. Located just off Highway 49 South, this wooded property boasts convenient access to a major thoroughfare. The recent completion of the $253 million Highway 49 expansion in August 2022 significantly enhances the property's value and accessibility. Priced at $144,000, or $7,200 per acre, this represents a compelling value in a rapidly developing area. The property is zoned R-1, allowing for single-family residential development, offering considerable flexibility for future projects. This is a significant land holding, and the owner will not consider selling any portion of the 20 acres

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Simpson
    State
    Mississippi
    Longitude
    -90.1321
    Latitude
    32.1757

    Comparable in this City

    • Value Estimation by Request
      14.97 Acres

      1764 Us 49

      Land
      1764 Us 49, Florence, MS 39073
      View Details
    • Value Estimation by Request
      4.08 Acres

      2105 Us 49

      Land
      2105 Us 49, Florence, MS 39073
      View Details
    • Value Estimation by Request
      10.39 Acres

      49 Frontage

      Agricultural land / Farmland
      49 Frontage, Florence, MS 39073
      View Details
    • Value Estimation by Request
      11.39 Acres

      2407 Us 49

      Land
      2407 Us 49, Florence, MS 39073
      View Details
    • Value Estimation by Request
      5.00 Acres

      3327 Us 49

      Land
      3327 Us 49, Florence, MS 39073
      View Details
    • Value Estimation by Request
      7.95 Acres

      Florence Dr

      Land
      0 Florence Dr, Florence, MS 39073
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Highway 49 South Land Opportunity

      11.39-acre property on Highway 49 in Florence, MS.
      2407 Us 49, Florence, MS 39073
      View Details
    • New
      $144,000
      6.00 Acres

      6 Acre Tract with Barn

      6 acre tract with wired pole barn in Florence, MS.
      104 Mamie Mangum Rd, Florence, MS 39073
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    • New
      $109,911
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      9 Acres Wooded Land

      9-acre wooded property in Star, MS, ideal for homesite.
      Star Rd, Florence, MS 39073
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    • $75,000
      Pending

      Land in Florence, Mississippi

      26.72 acres of land near Byram and Jackson.
      Florence Byram Rd, Florence, MS 39073
      View Details
    • $399,000
      187,308 SF

      High-Visibility Florence Commercial Land

      4.3 Acres, Hwy 49 Frontage, C3 Zoning
      00 Highway 49, Florence, MS 39073
      View Details
    • $1,500,000
      497,455 SF

      Richland Commercial Land - Hwy 49

      Prime 11-acre commercial site, high visibility.
      1530 Highway 49, Richland, MS 39073
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    Similar Nearby for Lease

    • Contact for pricing
      800 SF

      Retail Space in Florence Strip Mall

      800 sq ft retail space in high-traffic Florence location.
      2799 49 Pl, Florence, MS 39073
      View Details
    • $10 SF/Yr
      6,000 SF

      Florence Retail Center - Highway 49

      Prime Retail Space, Multiple Units Available
      2785 Us 49, Florence, MS 39073
      View Details
    • $1,000 /Mo
      800 SF

      Highway 49 Office Space

      Office space for lease with high visibility and accessibility.
      2799 Lot, Florence, MS 39073
      View Details
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    Florence, MS 39073
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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.

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