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

    2498 Hwy 51 Madison, MS 39110

    • Retail space
    • 2,434 SF
    • 8.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0367335
    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

    • Retail space

    Property Details for 2498 Hwy 51

    Year built
    1995
    Lot size
    8.00 lot acres
    Property size
    2,434 SF
    Zone code
    C-2
    Property type
    Retail space
    APN
    082A-11 -026/04
    APU
    082A1102604

    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
    Madison
    County
    Madison
    State
    Mississippi
    Longitude
    -90.0602
    Latitude
    32.557
    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
    $9,703
    $0.00
    $0.00
    $66,189
    -
    $160,000
    $281,260
    $441,260

    Comparable in this City

    • Value Estimation by Request
      175,584 SF

      127 Grandview Blvd

      RETAIL STORES (PERSONAL SERVICES) • 175,584 SF
      127 Grandview Blvd, Madison, MS 39110-7595
      View Details
    • Value Estimation by Request
      114,506 SF

      175 Grandview Blvd

      RETAIL STORES (PERSONAL SERVICES) • 114,506 SF
      175 Grandview Blvd, Madison, MS 39110-6039
      View Details
    • Value Estimation by Request
      2,608 SF

      123 Jones St

      RETAIL STORES (PERSONAL SERVICES) • 2,608 SF
      123 Jones St, Madison, MS 39110-8994
      View Details
    • Value Estimation by Request
      4,059 SF

      2081 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,059 SF
      2081 Main St, Madison, MS 39110-8520
      View Details
    • Value Estimation by Request
      13,950 SF

      1014 Hwy 51

      RETAIL STORES (PERSONAL SERVICES) • 13,950 SF
      1014 Hwy 51, Madison, MS 39110-8304
      View Details
    • Value Estimation by Request
      2,694 SF

      2077 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,694 SF
      2077 Main St, Madison, MS 39110-8520
      View Details

    Similar Nearby for Sale

    • $4,708,333
      7,000 SF

      New Retail Construction on Main

      100% leased retail property in high-traffic location.
      1917 Main St, Madison, MS 39110
      View Details
    • $4,175,000
      12,000 SF

      Turnkey Facility in High-Growth Corridor

      Premier 12,000 SF facility on 1.91 acres in Gluckstadt.
      112 Dees Dr, Madison, MS 39110
      View Details
    • $1,961,141
      4.86 Acres

      Madison Retail Land Opportunity

      Prime Madison, MS retail land; 4.86 acres.
      0 Ebenezer Blvd, Madison, MS 39110
      View Details
    • $1,600,000
      4,312 SF

      Vacant Car Wash Opportunity

      Vacant car wash on 1.96 acres available for sale.
      2027 Strawberry Hl, Madison, MS 39110
      View Details
    • $599,800
      136,996 SF

      Madison Retail Investment Opportunity

      Prime 3.15-acre retail site near Germantown High.
      2004 Calhoun Sta Pkwy, Madison, MS 39110
      View Details
    • Contact for pricing
      1.38 Acres

      Madison Commercial Land Opportunity

      Prime MS land, various sizes, I-55 access.
      124 One Madison Plz, Madison, MS 39110
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      43,560 SF

      Madison Commercial Property For Lease

      C-2 zoned commercial property with great visibility and easy access.
      573 S 51, Madison, MS 39110
      View Details
    • $3,394 /Mo
      1,340 SF

      Retail Space in Madison Market

      Retail/office space in Madison Market Shopping Center.
      1029 Lot, Madison, MS 39110
      View Details
    • $26 SF/Yr
      5,278 SF

      Retail Space Near Kroger/Home Depot

      Retail space available in multi-tenant building, shadow-anchored by Kroger/Home Depot.
      201 Colony Crossing Way, Madison, MS 39110
      View Details
    • $19 SF/Yr
      2,040 SF

      Move-In Ready Retail Suite

      Retail suite with reception, rooms, restrooms, and storage.
      113 Dees Dr, Madison, MS 39110
      View Details
    • $3,003 /Mo
      2,002 SF

      Retail Flex Space in Gluckstadt

      2,002 SF retail flex/office space in growing Gluckstadt, MS.
      124 Kimball Dr, Madison, MS 39110
      View Details
    • Contact for pricing
      6,910 SF

      Retail Space Anchored by Kroger

      Retail spaces available in Madison, Mississippi, near major traffic routes.
      111 Colony Crossing Way, Madison, MS 39110
      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.
    2498 Hwy 51
    Madison, MS 39110
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.