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    Property profile & analytics

    902 Court St Waynesboro, MS 39367

    • Commercial real estate
    For Sale
    View listing
    $175,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-1025627
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 902 Court St

    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 902 Court Street in Waynesboro, Mississippi, presents a unique investment opportunity. The property is zoned C2, offering considerable flexibility for a variety of commercial uses. Its strategic location in Waynesboro makes it ideal for businesses seeking high visibility and convenient access. The zoning allows for retail establishments, office spaces, or facilities providing treatment or services. This versatile property is ready for immediate development or occupancy, presenting a blank canvas for entrepreneurs and investors alike. The asking price of $175,000 reflects the significant potential return on investment this property offers. The property's size is not specified, but its central location and flexible zoning make it a highly attractive proposition for those seeking a foothold in the Waynesboro commercial market. Serious inquiries are encouraged to explore the possibilities this property unlocks. The property sits on a lot with no acreage specified. Its C2 zoning ensures a wide range of permitted uses, making it a truly adaptable space for a variety of business ventures. This is a rare opportunity to acquire a well-situated commercial property in a growing Mississippi town. Don't miss out on this chance to secure a valuable asset in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Waynesboro
    County
    Wayne
    State
    Mississippi
    Longitude
    -88.64298
    Latitude
    31.67895

    Comparable in this City

    • $175,000
      1,731 SF

      Waynesboro Commercial Space Investment

      High-potential commercial property, 1700+ sq ft.
      911 Azalea Dr, Waynesboro, MS 39367
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    • $92,800
      32.00 Acres

      32 Acres in De Soto Forest

      32 acres near De Soto National Forest, ideal for recreation.
      -- Strickland Rd, Waynesboro, MS 39367
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    • $275,000

      66 Acres in Waynesboro, MS

      Versatile 66-acre parcel with lake, pasture, and utilities.
      603 Denham Winchester Rd, Waynesboro, MS 39367
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    • $60,000
      40.00 Acres

      40 Acres Hunting Land Investment

      Hunting tract in De Soto National Forest, ready for development.
      N /A, Waynesboro, MS 39367
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    • $30,000
      6.33 Acres

      6.33 Acres Vacant Lot

      6.33 acres of timberland inside city limits.
      Tbd Turner St, Waynesboro, MS 39367
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    • Contact for pricing
      1,100 SF

      Waynesboro Office and Retail Space

      Versatile commercial space suitable for office or retail use.
      805 Spring St, Waynesboro, MS 39367
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    Similar Nearby for Sale

    • $175,000
      1,731 SF

      Waynesboro Commercial Space Investment

      High-potential commercial property, 1700+ sq ft.
      911 Azalea Dr, Waynesboro, MS 39367
      View Details
    • $92,800
      32.00 Acres

      32 Acres in De Soto Forest

      32 acres near De Soto National Forest, ideal for recreation.
      -- Strickland Rd, Waynesboro, MS 39367
      View Details
    • $275,000

      66 Acres in Waynesboro, MS

      Versatile 66-acre parcel with lake, pasture, and utilities.
      603 Denham Winchester Rd, Waynesboro, MS 39367
      View Details
    • $60,000
      40.00 Acres

      40 Acres Hunting Land Investment

      Hunting tract in De Soto National Forest, ready for development.
      N /A, Waynesboro, MS 39367
      View Details
    • $30,000
      6.33 Acres

      6.33 Acres Vacant Lot

      6.33 acres of timberland inside city limits.
      Tbd Turner St, Waynesboro, MS 39367
      View Details
    • Contact for pricing
      1,100 SF

      Waynesboro Office and Retail Space

      Versatile commercial space suitable for office or retail use.
      805 Spring St, Waynesboro, MS 39367
      View Details
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    902 Court St
    Waynesboro, MS 39367
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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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