Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Progress Pt Sumrall, MS 39482
    Back to Search
    Property profile & analytics

    Progress Pt, Sumrall, MS 39482

    View on Map
    • Land
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Progress Pt

    Lot size
    1.00 lot acres
    Property type
    Land

    Description

    This exceptional 1-acre lot in Sumrall, Mississippi, presents a unique opportunity for building your dream home. Located in the desirable Progress Point - Phase III development, this property is part of a planned community featuring 27 new lots along Joann Drive. The lot boasts a thoughtfully thinned pine timber stand, leaving evenly spaced trees for a picturesque setting. Enjoy the privacy afforded by the generous lot size while remaining conveniently close to Sumrall schools and West Hattiesburg. The rolling topography offers multiple potential building sites, allowing for customized home placement to maximize the natural beauty of the land. This property is situated in Lamar County, Mississippi, with a 39482 zip code and precise coordinates of 31.3992391 latitude and -89.5874819 longitude. While this particular lot is 1 acre, neighboring lots range in size from 1.17 acres up to 9.77 acres, offering a variety of options for potential buyers. Don't miss this chance to secure a prime homesite in a sought-after Sumrall location. Act quickly, as these lots are expected to sell rapidly.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Sumrall
    County
    Lamar
    State
    Mississippi
    Longitude
    -89.5875
    Latitude
    31.3992

    Comparable in this City

    • Value Estimation by Request
      0.50 Acres

      12 White Rd

      Land • 0.50 Acres
      12 White Rd, Sumrall, MS 39482
      View Details
    • Value Estimation by Request
      14.80 Acres

      7462 Us-98

      Land • 14.80 Acres
      7462 Us-98, Sumrall, MS 39482
      View Details
    • Value Estimation by Request
      20.00 Acres

      Poncey Rd

      Land • 20.00 Acres
      0 Poncey Rd, Sumrall, MS 39482
      View Details
    • Value Estimation by Request
      25.00 Acres

      4194 Ms-589

      Medical Office Space • 7,920 SF
      4194 Ms-589, Sumrall, MS 39482
      View Details
    • Value Estimation by Request

      1248 Ms-42

      Land
      1248 Ms-42, Sumrall, MS 39482
      View Details
    • Value Estimation by Request
      158.00 Acres

      J D Broome Rd

      Farms • 158.00 Acres
      0 J D Broome Rd, Sumrall, MS 39482
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale.
      1248 Ms-42, Sumrall, MS 39482
      View Details
    • $168,300
      15.30 Acres

      Heavily Wooded Land in Sumrall

      15.3 acres of wooded land in Sumrall School District.
      00 Oral Church Rd, Sumrall, MS 39482
      View Details
    • $198,500
      4.50 Acres

      Vacant Land in Sumrall, MS

      4.5 acres of vacant land for sale in Sumrall.
      000 Errington Rd, Sumrall, MS 39482
      View Details
    • New
      $110,000
      10.00 Acres

      10 Acres Vacant Land Sumrall

      10 acre land tract in Lamar County, MS.
      390 Farve Rd, Sumrall, MS 39482
      View Details
    • $555,000
      15.00 Acres

      Prime Development Opportunity in Sumrall

      15-acre commercial land with high visibility and road frontage.
      00 Old Highway 24, Sumrall, MS 39482
      View Details
    • $265,000
      Pending

      Pasture Land with Private Pond

      14.7 acres of pasture with pond in Sumrall, Mississippi.
      N Black Creek Rd, Sumrall, MS 39482
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Unzoned Land Parcel For Lease

      10.26 acre unzoned land parcel with utilities for lease.
      7459 Us Highway 98, Sumrall, MS 39482
      View Details
    • Contact for pricing
      7,309 SF

      Unzoned Land on Highway 98

      10.26 acres of unzoned land with utilities available.
      7459 Us Highway 98, Sumrall, MS 39482
      View Details
    • Contact for pricing
      13,591 SF

      Retail Space on Highway 42

      Retail property available for lease with 13,591 square feet.
      1123 Highway 42, Hattiesburg, MS 39482
      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.
    Progress Pt
    Sumrall, MS 39482
    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
    Progress Pt, Sumrall, MS, 39482
    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!