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    610 Applegate St Winona, MS 38967
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    Property profile & analytics

    610 Applegate St, Winona, MS 38967

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    • Lifestyle centers
    • 57,125 SF
    • 6.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tequilas / Restaurant

    Property Details for 610 Applegate St

    Year built
    1979
    Lot size
    6.00 lot acres
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional Winona, MS shopping center presents a compelling investment opportunity. The 57,125 square foot property boasts a strong tenant mix anchored by AutoZone (operating since 1994 and ranked #5 in the state) and Home Hardware, recently signed to a ten-year lease. With three tenants currently occupying 95% of the space, the property generates a substantial NOI of $161,359, representing an attractive 8.25% cap rate at an asking price of $1,955,866 ($34.24/sq ft). The property includes four units situated on a six-acre lot and features a recently replaced roof with an estimated 15+ years of useful life remaining. Below-market rents offer significant upside potential for the investor. A potential 0.23-acre outparcel is included in the sale. The center benefits from a location in the heart of Winona, a market influenced by agriculture, manufacturing, and industrial industries, and is conveniently located 1 hour 40 minutes from Memphis and 1 hour 25 minutes from Jackson. The addition of a new lease with Delta Health further solidifies the long-term viability of this internet-resistant retail center. The purchase price is significantly below replacement cost, making this a truly attractive investment. The parent company of Home Hardware, Central Network Retail, operates 145 locations across 16 states. Winona's commitment to economic diversification and Amazon's recent $11 billion investment in Jackson further enhance the long-term prospects of this property. The property's address is 610 S Applegate St, Winona, MS 38967. Built in 1979, the single-story building is situated on APN 361 354000 0000000910.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Winona
    County
    Montgomery
    State
    Mississippi
    Longitude
    -89.7355
    Latitude
    33.4735

    Comparable in this City

    • Value Estimation by Request
      57,125 SF

      610 Applegate St

      Shopping malls
      610 Applegate St, Winona, MS 38967
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    • Value Estimation
      $620,000
      20,770 SF

      Winona, MS 38967

      SHOPPING CENTER, STRIP CENTER
      Winona, MS 38967
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    • Value Estimation by Request
      2,582 SF

      313 Us-82

      Restaurants
      313 Us-82, Winona, MS 38967
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    • Value Estimation by Request
      450 SF

      Winona, MS 38967

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      Winona, MS 38967
      View Details
    • Value Estimation by Request
      2,582 SF

      313 Us-82

      Restaurants
      313 Us-82, Winona, MS 38967
      View Details
    • Value Estimation by Request
      960 SF

      Winona, MS 38967

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      Winona, MS 38967
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      71,874 SF

      Commercial Corner with Income Streams

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    • $1,799,000
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      Winona Commercial Corner For Sale

      Commercial corner with multiple income streams in Winona, Mississippi.
      223 N Applegate St, Winona, MS 38967
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    • $549,999
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      Winona, MS Vacant Land

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    • $750,000
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      90 Acres Undeveloped Commercial Land

      Undeveloped commercial property with frontage on I-55 and NE Frontage.
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      Winona Vacant Land For Sale

      36.8 acres of vacant land with I-55 frontage.
      Interstate 55, Winona, MS 38967
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    • $400,000
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      Prime Commercial Land Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Retail Space in Winona, MS

      Retail center in Winona, Mississippi, with storefront spaces available.
      612-620 S Applegate St, Winona, MS 38967
      View Details
    • Contact for pricing

      Restaurant Space with Drive-Thru

      Quick-service restaurant space with drive-thru and interstate access.
      313 Highway 82, Winona, MS 38967
      View Details
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    Winona, MS 38967
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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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