Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    106 Main Ave Magee, MS 39111

    • Commercial real estate
    • 6,996 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ZenLife Energy Yoga Studio / Yoga Studio
    • Ringo Media Magee / Software Company / Website Designer

    Property Details for 106 Main Ave

    Year built
    1920
    Lot size
    0.50 lot acres
    Property size
    6,996 SF
    Property type
    Commercial real estate

    Description

    This exceptional 6,996 square foot commercial building is situated on a prime 0.5-acre lot in the heart of Magee, Mississippi. Boasting a unique dual-access design, the property features a main entrance on North Main Avenue and a rear entrance conveniently located on Highway 149, ensuring high visibility and accessibility. The interior layout comprises three expansive open areas, ideal for retail, warehousing, or flexible workspace, complemented by three sizable private offices, perfect for administrative functions or individual businesses. A significant portion of the building underwent a complete renovation in 2019, resulting in a stunning blend of modern amenities and historical charm. This renovation included the installation of a brand-new roof and the transformation of the rear section, showcasing exposed brick walls, attractive wood flooring, and a cozy gas fireplace. The existing structure also presents the exciting possibility of converting a portion into a two-bedroom apartment, adding further value and versatility. This rare opportunity to acquire Main Avenue real estate in Magee is not to be missed

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Magee
    County
    Simpson
    State
    Mississippi
    Longitude
    -89.7325
    Latitude
    31.8735

    Comparable in this City

    • Value Estimation by Request
      8.00 Acres

      000 Us Hwy

      Commercial real estate • 8.00 Acres
      000 Us Hwy, Magee, MS 39111
      View Details
    • Value Estimation by Request
      1,224 SF

      545 Simpson Hwy 149

      COMMERCIAL (GENERAL) • 1,224 SF
      545 Simpson Hwy 149, Magee, MS 39111-3456
      View Details
    • Value Estimation by Request
      18.03 Acres

      Shivers Rd

      Agricultural land • 18.03 Acres
      0 Shivers Rd, Magee, MS 39111
      View Details
    • Value Estimation by Request
      1,800 SF

      407 Pinola Dr

      Commercial real estate • 1,800 SF
      407 Pinola Dr, Magee, MS 39111
      View Details
    • Value Estimation by Request
      2,472 SF

      Magee, MS 39111

      COMMERCIAL (GENERAL) • 2,472 SF
      Magee, MS 39111
      View Details
    • Value Estimation by Request

      612 Laurel Dr

      Commercial real estate
      612 Laurel Dr, Magee, MS 39111
      View Details

    Similar Nearby for Sale

    • $3,850,000
      2,706 SF

      1499 Us 49, Magee, MS 39111

      Commercial real estate • 2,706 SF
      1499 Us 49, Magee, MS 39111
      View Details
    • $475,000
      8.00 Acres

      High-Visibility Magee Commercial Land

      8 Acres, Hwy 49 Frontage, Dividable
      000 Us Hwy, Magee, MS 39111
      View Details
    • $65,000
      1,864 SF

      Magee Commercial Building - Great Potential

      Prime Magee location, 1864 sq ft, includes equipment.
      711 Laurel Dr, Magee, MS 39111
      View Details
    • $390,000
      1,800 SF

      407 Pinola Dr, Magee, MS 39111

      Commercial real estate • 1,800 SF
      407 Pinola Dr, Magee, MS 39111
      View Details
    • $170,000
      1,222 SF

      Prime Magee Retail Opportunity

      Former Sonic Drive-In, High Traffic Location
      400 Main Ave, Magee, MS 39111
      View Details
    • $1,165,000
      21,780 SF

      1529 Us 49, Magee, MS 39111

      Retail properties • 21,780 SF
      1529 Us 49, Magee, MS 39111
      View Details

    Similar Nearby for Lease

    • $883 /Mo
      706 SF

      Magee Medical Office Building

      Full-service medical office building with various space configurations for lease.
      360 Simpson Highway 149, Magee, MS 39111
      View Details
    • Contact for pricing
      3,600 SF

      Freestanding Retail Building on Highway 49

      3,600 SF retail/office building with excellent visibility and parking.
      1806 S 49, Magee, MS 39111
      View Details
    • $6,130 /Mo
      4,904 SF

      Magee Medical Office Building

      Full-service medical office building with various space configurations for rent.
      360 Simpson Highway 149, Magee, MS 39111
      View Details
    • $479 /Mo
      383 SF

      Magee Medical Office Space Available

      Full-service medical office building with various space configurations for rent.
      360 Simpson Highway 149, Magee, MS 39111
      View Details
    • $1,800 /Mo
      3,066 SF

      Retail Shop in Historic Magee

      Flourishing retail shop in the heart of downtown Magee, MS.
      106 Main Ave, Magee, MS 39111
      View Details
    • $6,568 /Mo
      5,254 SF

      Magee Medical Office Space Available

      Full-service medical office building with various space configurations for rent.
      360 Simpson Highway 149, Magee, MS 39111
      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.
    106 Main Ave
    Magee, MS 39111
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.