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    2246 Flowood Dr Flowood, MS 39232
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    2246 Flowood Dr Flowood, MS 39232

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    • Office buildings
    • 3,211 SF
    • 6.35 lot acres
    For Sale
    $960,000
    View Listing →
    Flowood Drive Development Opportunity For Sale
    $960,000

    Flowood Drive Development Opportunity

    Corner lot with access to major highways and thoroughfares.

    2246 Flowood Dr, Flowood, MS 39232
    View Listing
    Property ID
    US50-0179956
    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 2246 Flowood Dr

    Year built
    1978
    Lot size
    6.35 lot acres
    Property size
    3,211 SF
    Property type
    Office buildings
    APN
    E10G000001 00000
    APU
    E10G00000100000

    Description

    Exceptional commercial land investment opportunity in Flowood, Mississippi, totaling 6.352 acres and priced at $960,000 ($3.46/SF). This C-3 zoned property boasts a highly visible location at the signalized intersection of Flowood Drive and the future Tree Tops Blvd extension, providing easy access to major thoroughfares including Lakeland Drive (51,000 VPD), Highway 80 (20,000 VPD), Highway 49 (52,000 VPD), and Interstate 20 (77,000 VPD). The site benefits from prior site preparation, including clearing and some earthwork, and includes existing improvements consisting of a 3,190 square foot office building and a 5,500+ square foot metal warehouse. Its strategic location offers proximity to Jackson Airport, medical facilities, industrial parks, and a variety of retail and restaurant establishments. This property presents a unique development opportunity in a thriving commercial corridor. The address is 2246 Flowood Dr, Flowood, MS 39232.

    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
    Flowood
    County
    Rankin
    State
    Mississippi
    Longitude
    -90.1187
    Latitude
    32.3204
    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
    2019
    $7,198
    $0.00
    $0.00
    $93,395
    -
    $415,040
    $207,590
    $622,630

    Comparable in this City

    • Value Estimation by Request

      Flowood, MS 39232

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      0.88 Acres

      Flowood, MS 39232

      PROFESSIONAL BUILDING • 0.88 Acres
      Flowood, MS 39232
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    • Value Estimation by Request
      0.72 Acres

      Flowood, MS 39232

      PROFESSIONAL BUILDING • 0.72 Acres
      Flowood, MS 39232
      View Details
    • Value Estimation
      $1,430,000
      12,003 SF

      911 Flynt Dr

      PROFESSIONAL BUILDING • 12,003 SF
      911 Flynt Dr, Flowood, MS 39232-9572
      View Details
    • Value Estimation by Request
      5,246 SF

      Flowood, MS 39232

      PROFESSIONAL BUILDING • 5,246 SF
      Flowood, MS 39232
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    • Value Estimation by Request
      3,535 SF

      Flowood, MS 39232

      PROFESSIONAL BUILDING • 3,535 SF
      Flowood, MS 39232
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,250 SF

      Former Bank Building on Lakeland

      3,250 SF commercial building with high visibility on Lakeland Drive.
      2351 Lakeland Dr, Flowood, MS 39232
      View Details
    • $1,154,795

      Flowood Office Building For Sale

      Multi-tenant office building in Flowood, MS, 100% leased.
      438 Katherine Dr, Flowood, MS 39232
      View Details
    • $1,700,000
      11,000 SF

      Flowood Office Building For Sale

      Beautiful office building in the heart of Flowood, Mississippi.
      781 Liberty Rd, Flowood, MS 39232
      View Details
    • Contact for pricing
      6,384 SF

      438 Katherine Dr, Flowood, MS 39232

      Office buildings • 6,384 SF
      438 Katherine Dr, Flowood, MS 39232
      View Details
    • Contact for pricing
      5,000 SF

      Flowood Freestanding Office Building

      Freestanding office building in Flowood, MS with leasing potential.
      1307 Airport Rd, Flowood, MS 39232
      View Details
    • Contact for pricing

      Premier Flowood Office Development

      Two-story office complex in a desirable Flowood location.
      660 Lakeland East Dr, Flowood, MS 39232
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Single Tenant Building in Flowood

      Single tenant building in a prime Flowood location.
      139 Plaza Dr, Flowood, MS 39232
      View Details
    • $17,611 /Mo
      9,606 SF

      Flowood Office Building For Lease

      Highly visible office building with ample parking in Flowood, MS.
      2508 Lakeland Dr, Flowood, MS 39232
      View Details
    • Contact for pricing

      Flowood Office Space For Rent

      Office suite available for lease in Flowood, Mississippi.
      252 Katherine Dr, Flowood, MS 39232
      View Details
    • Contact for pricing
      912 SF

      Flowood Office Space For Rent

      Professional building with marquee signage in a thriving area.
      1050 N Flowood Dr, Flowood, MS 39232
      View Details
    • Contact for pricing
      1,850 SF

      Flowood Flex Space with Dock

      Flex space featuring an open floorplan, office, and warehouse.
      3010 Lakeland Cv, Flowood, MS 39232
      View Details
    • Contact for pricing

      Office Space Off Lakeland Drive

      Office space for lease in a popular Flowood location.
      644 Lakeland East Dr East, Flowood, MS 39232
      View Details
    View Listing
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    Flowood, MS 39232
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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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    2246 Flowood Dr, Flowood, MS, 39232
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