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    3352 Goodman Rd Southaven, MS 38672
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    3352 Goodman Rd, Southaven, MS 38672

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

    Current Use by Public Records

    • Southgate Medical Supply LLC / Medical Supply Store

    Property Details for 3352 Goodman Rd

    Lot size
    24.00 lot acres
    Property type
    Land

    Description

    This exceptional 24-acre commercial land parcel presents a prime development opportunity in Southaven, Mississippi. Strategically located at the intersection of Goodman Road and Getwell Road, this property boasts over 1000 feet of frontage on Goodman Road and a depth of 1100 feet. Zoned C-4 Planned Commercial, it's ideally suited for a variety of retail or office developments. The site benefits from excellent visibility and accessibility, with an average daily traffic count of 38,000 vehicles on Goodman Road. All utilities are available at or near the site, simplifying development. The property's location offers convenient access to Interstate 55 and Interstate 240, as well as east Memphis, serving a substantial population base. Southaven's population is approximately 43,000, with DeSoto County's population reaching approximately 175,000. Nearby established businesses include Kroger, DAC, AutoZone, Sonic, First Tennessee, and CVS, indicating a strong and thriving commercial environment. A potential opportunity exists for a traffic signal at the intersection of Snowden Lane and Goodman Road, further enhancing visibility and accessibility. This property represents a significant investment opportunity in a high-growth area. The asking price is $8,900,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Southaven
    County
    Desoto
    State
    Mississippi
    Longitude
    -89.9301
    Latitude
    34.9631

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      6030 Getwell Rd

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      2150 Goodman E Rd

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      4,602 SF

      5740 Getwell Rd Bldg, Unit 1

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      Land For Sale

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      Getwell Road Land Opportunity

      Land available on Getwell Road in Southaven, Mississippi.
      5048 Getwell Rd, Southaven, MS 38672
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      9.63 Acres

      Southaven Land for Development

      9.63 acres of land in growing Southaven area.
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      Land For Sale Southaven

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      Pending

      Southaven Commercial Property For Sale

      1.2-acre commercial property with two office buildings in Southaven.
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      Southaven Land For Sale

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      Retail Development Opportunity in Southaven

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      Southaven Office/Retail Space For Lease

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      Retail and Restaurant Space Available

      Retail, restaurant, and entertainment space in Southaven, MS.
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      5,500 SF

      Southaven Office Space Available

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      Spacious Distribution Warehouse in Southaven

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      Silo Square Retail-Restaurant Space

      New 9,100 SF retail-restaurant space in Silo Square.
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    3352 Goodman Rd
    Southaven, MS 38672
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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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    3352 Goodman Rd, Southaven, MS, 38672
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