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    13118 Us-61 Tunica Resorts, MS 38664
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    13118 Us-61, Tunica Resorts, MS 38664

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    • Retail properties & Spaces
    • 182,000 SF
    • 44.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 13118 Us-61

    Year built
    2000
    Lot size
    44.00 lot acres
    Property size
    182,000 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    The Casino Shoppes, located at 13118 US-61 in Tunica Resorts, MS 38664, offers a prime retail, office, and restaurant opportunity. This Class B property boasts 182,000 square feet across two single-story buildings, built in 2000. With 45 total suites, there are multiple tenancy options available, ranging from a minimum of 1,000 contiguous square feet to a maximum of 30,000 contiguous square feet. Currently, 17,000 square feet of space is vacant. The property features an 18-foot ceiling height and ample parking with 724 spaces. Conveniently situated on US 61 and Harrahs Parkway, this location offers exceptional visibility and accessibility. The property sits on 44 acres of land and is zoned for retail and office use. Three-phase power is available. The property is 30 minutes southwest of Memphis International Airport and is near several casinos and Coahoma Community College. This is an excellent opportunity for businesses seeking high-traffic exposure in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tunica Resorts
    County
    State
    Mississippi
    Longitude
    -90.2766
    Latitude
    34.8336

    Comparable in this City

    • Value Estimation by Request
      14,300 SF

      1157 Casino Center Dr

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    • Value Estimation by Request
      1,942 SF

      13615 Old Hwy 61st N

      OFFICE (GENERAL) • 1,942 SF
      13615 Old Hwy 61st N, Robinsonville, MS 38664-9739
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    • Value Estimation
      $515,000
      2,881 SF

      Robinsonville, MS 38664

      OFFICE (GENERAL) • 2,881 SF
      Robinsonville, MS 38664
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    • Value Estimation by Request
      2,054 SF

      Robinsonville, MS 38664

      OFFICE (GENERAL) • 2,054 SF
      Robinsonville, MS 38664
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    • Value Estimation by Request
      2,325 SF

      11594 Old Hwy 61st N

      OFFICE (GENERAL) • 2,325 SF
      11594 Old Hwy 61st N, Robinsonville, MS 38664-9749
      View Details
    • Value Estimation
      $1,155,000
      12,643 SF

      1 Mullen Automotive Dr

      OFFICE (GENERAL) • 12,643 SF
      1 Mullen Automotive Dr, Robinsonville, MS 38664-6002
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,300 SF

      Delta Crossroads Retail Center

      Retail center near casinos with high vacancy, investment opportunity.
      1157 Casino Center Dr, Tunica Resorts, MS 38664
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    • Contact for pricing
      8,400 SF

      Mixed-Use Property with Restaurant & Apartments

      Commercial property featuring restaurants and apartments near local casinos.
      13370 Highway 61 N, Robinsonville, MS 38664
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    • $299,000
      6.50 Acres

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      50 residential lots for development in an established neighborhood.
      Vista Park Cir, Robinsonville, MS 38664
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    13118 Us-61
    Tunica Resorts, MS 38664
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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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