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    2620 Lakeland Dr Flowood, MS 39232-8823
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    2620 Lakeland Dr Flowood, MS 39232-8823

    View on Map
    • Hotels
    • 56,982 SF
    • 1.57 lot acres
    Off-Market
    Last Sale May 12, 2023
    Property ID
    US50-0716899
    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
    $1,840,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hotels

    Property Details for 2620 Lakeland Dr

    Year built
    2022
    Lot size
    1.57 lot acres
    Property size
    56,982 SF
    Property type
    Hotels
    APN
    E10L000017 00000
    APU
    E10L00001700000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,837,000
      Market price range: $1.15M - $1.84M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $1,455,000
      Current use
      WAREHOUSE, STORAGE
      $2,790,000
      Change: +92% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Flowood
    County
    Rankin
    State
    Mississippi
    Longitude
    -90.1152
    Latitude
    32.33
    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
    $4
    $0.00
    $0.00
    $1,167,284
    -
    $591,980
    $7,189,910
    $7,781,890

    Comparable in this City

    • Value Estimation
      $3,920,000
      121,590 SF

      Refuge Blvd

      HOTEL • 121,590 SF
      Refuge Blvd, Flowood, MS 39232
      View Details
    • Value Estimation
      $1,595,000
      49,406 SF

      160 Metro Dr

      HOTEL • 49,406 SF
      160 Metro Dr, Flowood, MS 39232-4400
      View Details
    • Value Estimation
      $1,665,000
      51,647 SF

      112 Rdg Way

      MOTEL • 51,647 SF
      112 Rdg Way, Flowood, MS 39232-3302
      View Details
    • Value Estimation
      $1,570,000
      48,637 SF

      115 Hospitality Dr

      MOTEL • 48,637 SF
      115 Hospitality Dr, Flowood, MS 39232-6007
      View Details
    • Value Estimation
      $1,850,000
      57,358 SF

      105 Hospitality Dr

      MOTEL • 57,358 SF
      105 Hospitality Dr, Flowood, MS 39232-6007
      View Details
    • Value Estimation
      $710,000
      23,200 SF

      1003 Treetops Blvd

      MOTEL • 23,200 SF
      1003 Treetops Blvd, Flowood, MS 39232-7606
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      5.311 Acres on Lakeland Drive

      Commercial land available on high-traffic Lakeland Drive in Flowood.
      River Bend Pl, Flowood, MS 39232
      View Details
    • $110,000
      0.32 Acres

      Prime Flowood Business Land

      High-traffic location, excellent visibility. 0.32-acre lot.
      142 Fannin Rd, Flowood, MS 39232
      View Details
    • Contact for pricing

      Prime Land on Lakeland Drive

      9 acres of commercial land with high visibility.
      156 Daughdrill Sta, Flowood, MS 39232
      View Details
    • 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
    • $805,860

      Prime Development-Ready Parcel in Flowood

      One-acre parcel ideal for retail, restaurant, or office development.
      310 W Pineview Dr, Flowood, MS 39232
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Flowood, MS

      Retail space available in a premier lifestyle center.
      150 Dogwood Blvd, 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
    • $5 SF/Yr
      28,000 SF

      Flowood Retail Building For Lease

      28,000 SF retail building in the Jackson MSA.
      710 Highway 80, Flowood, MS 39232
      View Details
    • Contact for pricing
      2,504 SF

      Freestanding Restaurant Opportunity in Flowood

      Turn-key restaurant space in high-traffic Flowood location.
      1000 Top St, Flowood, MS 39232
      View Details
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    Flowood, MS 39232-8823
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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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