Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Highway 589 Hattiesburg, MS 39402
    Back to Search
    Property profile & analytics

    Highway 589, Hattiesburg, MS 39402

    View on Map
    • Retail properties & Spaces
    • 6.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Highway 589

    Lot size
    6.00 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 6-acre commercial land parcel presents a prime investment opportunity in Hattiesburg, Mississippi. Located on Highway 589, just south of Highway 98, this property boasts over 400 feet of direct road frontage, ensuring high visibility and accessibility. The asking price is $653,400, translating to $108,900 per acre, a competitive price point compared to similar properties in the area. The property's strategic location offers significant advantages. It sits directly across Highway 589 from the new St. Fabian's Church under construction, and just south of a high-performing Dollar General store, known for its strong sales volume. This location is ideally suited to serve the growing residential communities of Bellegrass, Dandridge, Bent Creek, and other nearby subdivisions, creating a strong demand for various commercial services. The property's diverse zoning allows for a variety of commercial uses, including office, self-storage, retail, retail-pad, and hospitality establishments. The Lamar County location and its proximity to major roadways make this a highly desirable site for development and investment. The APN is 1063-23-038.000. This is a rare opportunity to acquire a well-positioned commercial land parcel with significant growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hattiesburg
    County
    Lamar
    State
    Mississippi
    Longitude
    -89.4696
    Latitude
    31.296

    Comparable in this City

    • Value Estimation by Request
      19.25 Acres

      5102 Old Highway 11

      Individual retail properties
      5102 Old Highway 11, Hattiesburg, MS 39402
      View Details
    • Value Estimation by Request
      4.09 Acres

      853 Richburg Rd

      Multifamily properties
      853 Richburg Rd, Hattiesburg, MS 39402
      View Details
    • Value Estimation by Request
      14.60 Acres

      Hartfield Rd

      Self storage facilities
      0 Hartfield Rd, Hattiesburg, MS 39402
      View Details
    • Value Estimation by Request
      10.45 Acres

      98 Art Rd

      Multifamily properties
      98 Art Rd, Hattiesburg, MS 39402
      View Details
    • Value Estimation by Request
      20,000 SF

      6690 Us-98

      Individual retail properties
      6690 Us-98, Hattiesburg, MS 39402
      View Details
    • Value Estimation by Request
      6,108 SF

      6194 Us-98

      Life science properties
      6194 Us-98, Hattiesburg, MS 39402
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land For Sale

      Commercial land available for sale.
      6194 U S Highway 98, Hattiesburg, MS 39402
      View Details
    • Contact for pricing
      1,908 SF

      Versatile Commercial Building For Sale

      Adaptable 1,908 SF building suitable for various commercial uses.
      2400 Lincoln Rd, Hattiesburg, MS 39402
      View Details
    • $699,500
      5,805 SF

      Hattiesburg Office Plaza For Sale

      Office plaza in the heart of Hattiesburg's office/retail district.
      17 Plaza Dr, Hattiesburg, MS 39402
      View Details
    • $3,900,000

      Hattiesburg Industrial Land - $3.9M

      Prime Industrial Land, 1.7M SF, I-59 Access
      4040 U S Highway 11, Hattiesburg, MS 39402
      View Details
    • Contact for pricing
      20,000 SF

      Retail Property on US-98

      Retail property with NNN lease in Hattiesburg, Mississippi.
      6690 U S Highway 98, Hattiesburg, MS 39402
      View Details
    • $343,000
      9,000 SF

      Hattiesburg Self-Storage Investment Opportunity

      Established self-storage facility in high-traffic Hattiesburg location.
      4364 Lincoln Road Ext, Hattiesburg, MS 39402
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,908 SF

      Adaptable Commercial Space For Rent

      Existing car wash adaptable to office, retail, or distribution use.
      2400 Lincoln Rd, Hattiesburg, MS 39402
      View Details
    • $18 SF/Yr
      975 SF

      Hattiesburg Retail Space - Hardy St.

      Prime 975 SF Retail Space, Hardy St.
      4400 Hardy St, Hattiesburg, MS 39402
      View Details
    • Contact for pricing

      Commercial Property for Lease

      Commercial property available for lease in Hattiesburg, MS.
      6194 U S Highway 98, Hattiesburg, MS 39402
      View Details
    • Contact for pricing

      Commercial Land with Signage

      Commercial land for rent with build-to-suit options.
      6690 U S Highway 98, Hattiesburg, MS 39402
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Hattiesburg, MS

      Retail space available for lease in Hattiesburg, Mississippi.
      5891 U S Highway 49, Hattiesburg, MS 39402
      View Details
    • Contact for pricing
      1,656 SF

      Retail Space For Rent

      Retail space available for lease in Hattiesburg, Mississippi.
      6242 U S Highway 98, Hattiesburg, MS 39402
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Highway 589
    Hattiesburg, MS 39402
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Highway 589, Hattiesburg, MS, 39402
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!