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    Property profile & analytics

    113 1st St Grenada, MS 38901-2615

    • Retail space
    • 4,158 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-1435100
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Lofts on the Square and Town Square Event Center, Grenada, MS / Bed & Breakfast

    Property Details for 113 1st St

    Lot size
    0.06 lot acres
    Property size
    4,158 SF
    Property type
    Retail space
    APN
    103O 08 197.00
    APU
    103O0819700

    Description

    This exceptional 4,158 square foot retail property, situated on a 0.06-acre lot at 113 First Street in the heart of downtown Grenada, MS, presents a unique investment opportunity. The property boasts five spacious bedrooms, each with its own private en-suite bathroom, offering unparalleled comfort and convenience. A dedicated office space provides a perfect area for work or creative pursuits. The property also features a full kitchen and a separate kitchenette, ideal for catering to various needs. An inviting patio area offers an outdoor space for relaxation or entertaining. The highlight is a flexible event center, perfect for hosting gatherings, meetings, or special occasions. This versatile space is ideally suited for a variety of uses, including short-term rentals (Airbnb), a multi-office space, or a combination of both. Its prime downtown location provides easy access to shops, restaurants, and local attractions. The asking price for this remarkable property is $410,000. This presents a rare chance to acquire a multi-functional property in a thriving downtown area. The property's adaptability and central location make it an attractive investment with significant potential for return.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $206,000
      Market price range: $207k - $489k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $355,000
      Current use
      COMMERCIAL (GENERAL)
      $360,000
      Change: +1% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grenada
    County
    Grenada
    State
    Mississippi
    Longitude
    -89.8029
    Latitude
    33.7845
    CBSA code
    24980
    CBSA name
    GRENADA, MS MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $1,065
    $9,155
    $10,220
    -
    $7,100
    $61,035
    $68,135

    Comparable in this City

    • Value Estimation
      $235,000
      1,127 SF

      Grenada, MS 38901

      RETAIL STORES (PERSONAL SERVICES) • 1,127 SF
      Grenada, MS 38901
      View Details
    • Value Estimation
      $240,000
      1,216 SF

      Grenada, MS 38901

      RETAIL STORES (PERSONAL SERVICES) • 1,216 SF
      Grenada, MS 38901
      View Details
    • Value Estimation
      $255,000
      4,390 SF

      85 1st St

      RETAIL STORES (PERSONAL SERVICES) • 4,390 SF
      85 1st St, Grenada, MS 38901-2607
      View Details
    • Value Estimation
      $250,000
      5,468 SF

      128 1st St

      RETAIL STORES (PERSONAL SERVICES) • 5,468 SF
      128 1st St, Grenada, MS 38901-2616
      View Details
    • Value Estimation
      $270,000
      4,339 SF

      131 1st St

      RETAIL STORES (PERSONAL SERVICES) • 4,339 SF
      131 1st St, Grenada, MS 38901-2615
      View Details
    • Value Estimation
      $225,000
      4,000 SF

      601 3rd St

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      601 3rd St, Grenada, MS 38901-3330
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,362 SF

      Retail Space Near Walmart

      Retail property with high visibility and traffic, near Walmart.
      1660 Sunset Dr, Grenada, MS 38901
      View Details
    • New
      $225,000
      3.20 Acres

      Grenada, MS Commercial Land Tract

      3.2 acre commercial tract suitable for retail or restaurant.
      3788 Commerce St, Grenada, MS 38901
      View Details
    • $65,000
      1,648 SF

      Commercial Building on Sunset Drive

      Commercial building for sale in high-traffic area on Sunset Drive.
      22106 Highway 8 East Grenada MS, Grenada, MS 38901
      View Details
    • $378,000
      3,594 SF

      Prime Grenada Restaurant Space

      3,594 SF Restaurant, High Traffic Area
      2310 Sunset Dr, Grenada, MS 38901
      View Details
    • New
      $998,000
      2.15 Acres

      Commercial Corner Lot on Sunset

      High-traffic commercial corner lot with existing restaurant and development potential.
      1331 Sunset Dr, Grenada, MS 38901
      View Details
    • $910,000
      165.00 Acres

      165-Acre Commercial Tract in Grenada

      165-acre commercial tract with high visibility and development potential.
      165 And Papermill Rd, Grenada, MS 38901
      View Details
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    113 1st St
    Grenada, MS 38901-2615
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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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