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    407 Us-90 Waveland, MS 39576

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    407 Us-90 Waveland, MS 39576

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    • Retail properties & Spaces
    • 12,000 SF
    Off-Market
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    Cap Rate Potential
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    • Retail properties & Spaces

    Property Details for 407 Us-90

    Property size
    12,000 SF
    Property type
    Retail properties & Spaces

    Description

    Magnolia Marketplace, located at 407 US-90 in Waveland, Mississippi (zip code 39576), offers 12,000 square feet of retail space for lease. This multi-tenant property features seven available units, ranging from a minimum of 1,200 square feet to a maximum contiguous space of 2,400 square feet. The units are situated in a prime location at the entrance of a rapidly growing Mississippi community boasting over 25,000 permanent residents and an average family income of $47,535. The area is a popular vacation and weekend destination, known for its fishing, music, art, and golf, attracting numerous visitors throughout the year due to its many parades and events. Benefiting from high traffic, the property is strategically positioned between the Silver Slipper Casino and the Hollywood Casino, providing access to a combined 343 hotel rooms. Units offer convenient features including private bathrooms, dimensions of 20 feet wide by 60 feet deep, and nine-foot drop ceilings. Modern upgrades include new overhead LED lighting. Several units are move-in ready, while others are offered in shell condition, providing flexibility for tenant build-outs. The property's APN is 138J-2-34-035.004, and it is located in Hancock County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Waveland
    County
    Hancock
    State
    Mississippi
    Longitude
    -89.3789
    Latitude
    30.3045

    Comparable in this City

    • Value Estimation by Request
      127,889 SF

      320 Us-90

      Retail properties & Spaces • 127,889 SF
      320 Us-90, Waveland, MS 39576
      View Details
    • Value Estimation by Request
      87,239 SF

      348 Us-90

      Individual retail properties • 87,239 SF
      348 Us-90, Waveland, MS 39576
      View Details
    • Value Estimation by Request
      4,080 SF

      504 Us-90

      Individual retail properties • 4,080 SF
      504 Us-90, Waveland, MS 39576
      View Details
    • Value Estimation by Request
      136,550 SF

      90 And Ms Hwy 43 & 344 Hwy

      Neighborhood centers • 136,550 SF
      90 And Ms Hwy 43 & 344 Hwy, Waveland, MS 39576
      View Details
    • Value Estimation by Request
      0.40 Acres

      26 Terrace Ave

      Land • 0.40 Acres
      26 Terrace Ave, Waveland, MS 39576
      View Details
    • Value Estimation by Request
      0.42 Acres

      306 Favre St

      Land • 0.42 Acres
      306 Favre St, Waveland, MS 39576
      View Details

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    407 Us-90
    Waveland, MS 39576
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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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