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    1629 Simpson Hwy 149 Mendenhall, MS 39114-3579
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    Property profile & analytics

    1629 Simpson Hwy 149 Mendenhall, MS 39114-3579

    View on Map
    • Office buildings
    • 1,253 SF
    • 0.16 lot acres
    Off-Market
    Property ID
    US50-1731383
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 1629 Simpson Hwy 149

    Construction
    WOOD
    Lot size
    0.16 lot acres
    Property size
    1,253 SF
    Property type
    Office buildings
    APN
    3042A000330000100400
    APU
    3042A000330000100400

    Description

    This exceptional commercial property located at 1629 Simpson Highway 149 in Mendenhall, Mississippi, presents a unique opportunity for a wide range of businesses. Boasting a total of 1,733 square feet situated on a 0.16-acre lot, this versatile building offers ample space for various uses. The main structure features one enclosed office, a convenient break area complete with a sink and cabinets, and a large open area perfect for customization. A connecting walkway leads to a second building, providing additional space with a small storage room and a bathroom. The property's history is rich and varied, having previously served as a law office, florist, and gas station, demonstrating its adaptability to diverse business needs. This adaptable layout allows for creative design and efficient workflow, making it ideal for entrepreneurs seeking an affordable and functional space to establish or expand their operations. The property's location in Mendenhall offers excellent visibility and accessibility, providing a strong foundation for business growth. This is a rare opportunity to acquire a well-located, versatile commercial property at an attractive price point. Don't miss out on this chance to shape the future of your business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mendenhall
    County
    Simpson
    State
    Mississippi
    Longitude
    -89.8713
    Latitude
    31.9606
    CBSA code
    27140
    CBSA name
    JACKSON, MS 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
    $1,284
    $0.00
    $0.00
    $9,171
    -
    $15,860
    $45,280
    $61,140

    Comparable in this City

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      2,109 SF

      Mendenhall, MS 39114

      OFFICE BUILDING • 2,109 SF
      Mendenhall, MS 39114
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    • Value Estimation by Request
      1,629 SF

      153 Apothecary Pt

      OFFICE BUILDING • 1,629 SF
      153 Apothecary Pt, Mendenhall, MS 39114-6267
      View Details
    • Value Estimation by Request
      3,254 SF

      133 Maud Ave

      OFFICE BUILDING • 3,254 SF
      133 Maud Ave, Mendenhall, MS 39114-3531
      View Details
    • Value Estimation by Request
      1,554 SF

      1703 Simpson Hwy 149

      OFFICE BUILDING • 1,554 SF
      1703 Simpson Hwy 149, Mendenhall, MS 39114-3440
      View Details
    • Value Estimation by Request
      2,820 SF

      Mendenhall, MS 39114

      OFFICE BUILDING • 2,820 SF
      Mendenhall, MS 39114
      View Details

    Similar Nearby for Sale

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    • Contact for pricing

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    • $225,000
      49.00 Acres

      Secluded 49-Acre Recreational Land

      Private, wooded 49-acre property with creek and new pole barn.
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      Mendenhall Land For Sale

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    • $95,000
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      Mendenhall Commercial Building For Sale

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    Mendenhall, MS 39114-3579
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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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