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    303 Main St New Augusta, MS 39462

    • Retail properties
    • 4,664 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 303 Main St

    Property size
    4,664 SF
    Property type
    Retail properties

    Description

    This exceptional retail property, located at 303 S Main Street in the heart of New Augusta, presents a unique investment opportunity. The single-story building boasts a total of 4,664 square feet, with approximately 4,500 square feet currently available for lease. Situated on a 0.24-acre lot, this property offers excellent visibility and accessibility for potential tenants. The building's previous use as Greer's Grocery Store establishes a strong foundation for a variety of retail ventures. Its prominent downtown location ensures high foot traffic and exposure to a substantial customer base. The property is located in Perry County and presents a blank canvas for a new business to thrive. The single-tenant occupancy allows for complete control and customization of the space. The substantial square footage provides ample room for a large retail operation, or the potential to subdivide for multiple smaller businesses. This is an ideal opportunity for an entrepreneur seeking a high-traffic location with significant potential for growth. The property's size and location make it an attractive option for a wide range of retail businesses, from grocery stores and restaurants to specialty shops and boutiques. The existing infrastructure provides a solid base for immediate occupancy and operation. Serious inquiries are encouraged to explore this remarkable retail opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Augusta
    County
    Perry
    State
    Mississippi
    Longitude
    -89.0752
    Latitude
    31.1906

    Comparable in this City

    • Value Estimation by Request
      4,664 SF

      303 Main St

      Retail properties • 4,664 SF
      303 Main St, New Augusta, MS 39462
      View Details
    • Value Estimation by Request
      0.10 Acres

      1st W St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 0.10 Acres
      1st W St, New Augusta, MS 39462
      View Details
    • Value Estimation by Request
      40.00 Acres

      Hwy 98

      DEPARTMENT STORE • 40.00 Acres
      Hwy 98, New Augusta, MS 39462
      View Details
    • Value Estimation by Request
      2,107 SF

      507 Hwy 98th E

      RESTAURANT • 2,107 SF
      507 Hwy 98th E, New Augusta, MS 39462-6071
      View Details
    • Value Estimation by Request
      1,824 SF

      100 1st E St

      FINANCIAL BUILDING • 1,824 SF
      100 1st E St, New Augusta, MS 39462
      View Details
    • Value Estimation by Request
      8,181 SF

      Hwy 98th W

      RETAIL STORES (PERSONAL SERVICES) • 8,181 SF
      Hwy 98th W, New Augusta, MS 39462
      View Details

    Similar Nearby for Sale

    • $150,000
      4,664 SF

      Downtown New Augusta Retail Space

      Prime Retail Location, 4,664 SF
      303 Main St, New Augusta, MS 39462
      View Details
    • $165,000
      17.00 Acres

      Cleared Land on Hwy 98

      Cleared 17-acre land parcel with development potential in New Augusta.
      Highway 98, New Augusta, MS 39462
      View Details
    • $165,000

      Cleared Land on Hwy 98

      Cleared land with road frontage, suitable for residential or commercial.
      0000 Us-98, New Augusta, MS 39462
      View Details
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    303 Main St
    New Augusta, MS 39462
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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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