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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    120 Norfleet Dr Senatobia, MS 38668-2220

    • Commercial real estate
    • 86,995 SF
    • 6.45 lot acres
    OFF-MARKET
    Value Estimations
    $3,020,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0086271
    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

    • Cockrell Family Medical Center / Medical Clinic / General Practitioner
    • Dr. Jessie M. Cockrell, MD / Family Practice Physician
    • Covenant Sleep Clinic of Senatobia / Medical Clinic
    • Direct Auto and Life Insurance / Insurance Agency

    Property Details for 120 Norfleet Dr

    Year built
    1978
    Lot size
    6.45 lot acres
    Property size
    86,995 SF
    Property type
    Commercial real estate
    APN
    099A07 0001301
    APU
    099A070001301

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Senatobia
    County
    Tate
    State
    Mississippi
    Longitude
    -89.9546
    Latitude
    34.6222
    CBSA code
    32820
    CBSA name
    MEMPHIS, TN-MS-AR METROPOLITAN 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
    2023
    $44,549
    $67,628
    $186,428
    $254,056
    -
    $450,850
    $1,242,850
    $1,693,700

    Comparable in this City

    • Value Estimation
      $1,730,000
      19,194 SF

      133 Plz Dr

      COMMERCIAL (GENERAL) • 19,194 SF
      133 Plz Dr, Senatobia, MS 38668-1815
      View Details
    • Value Estimation
      $920,000
      33,679 SF

      Senatobia, MS 38668

      COMMERCIAL (GENERAL) • 33,679 SF
      Senatobia, MS 38668
      View Details
    • Value Estimation
      $920,000
      33,679 SF

      Senatobia, MS 38668

      COMMERCIAL (GENERAL) • 33,679 SF
      Senatobia, MS 38668
      View Details
    • Value Estimation by Request
      3,920 SF

      109 Frnt St

      COMMERCIAL (GENERAL) • 3,920 SF
      109 Frnt St, Senatobia, MS 38668-2600
      View Details
    • Value Estimation by Request
      1,320 SF

      105 Ctr St

      COMMERCIAL (GENERAL) • 1,320 SF
      105 Ctr St, Senatobia, MS 38668-2130
      View Details
    • Value Estimation by Request
      720 SF

      112 Ctr St

      COMMERCIAL (GENERAL) • 720 SF
      112 Ctr St, Senatobia, MS 38668-2131
      View Details

    Similar Nearby for Sale

    • $89,500
      10.34 Acres

      Secluded 10.34 Acre Homesite

      10.34 acre lot in Timber Trail Subdivision, Senatobia, MS.
      7 Tyro Br Cv, Senatobia, MS 38668
      View Details
    • $600,000
      4,290 SF

      Corner Lot Commercial Property on Hwy 51

      Highly visible commercial property suitable for medical or office use.
      4364 Highway 51, Senatobia, MS 38668
      View Details
    • $68,000
      7.59 Acres

      Secluded Homesite in Senatobia, MS

      7.59-acre lot in Timber Trail S/D, Senatobia, MS.
      6 Tyro Br Cv, Senatobia, MS 38668
      View Details
    • $4,000,000
      70.10 Acres

      Pasture Land with Home, Ponds

      70+ acre pasture with home, ponds, fenced for livestock.
      6183 Yellowdog Rd, Senatobia, MS 38668
      View Details
    • $2,541,000
      462.00 Acres

      Tate County Hunting and Recreation

      462-acre hunting and recreational land near Memphis and Oxford.
      Hogfoot Rd, Senatobia, MS 38668
      View Details
    • $45,500
      3.68 Acres

      Land in Timber Trail

      3.68 acre lot in a natural, secluded oasis.
      13 Tyro Br Cv, Senatobia, MS 38668
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      83,905 SF

      Senatobia Plaza Retail Space

      High-traffic retail center, prime location
      124 Norfleet Dr, Senatobia, MS 38668
      View Details
    • Contact for pricing
      2,500 SF

      Senatobia Warehouse Space Available

      2,500 SF warehouse space for rent in Senatobia, MS.
      4073 Highway 51 S, Senatobia, MS 38668
      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.
    120 Norfleet Dr
    Senatobia, MS 38668-2220
    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.