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

    311 Devereaux Dr Natchez, MS 39120-4207

    • Turn key restaurants
    • 2,129 SF
    • 2.92 lot acres
    OFF-MARKET
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0687691
    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

    • Turn key restaurants

    Property Details for 311 Devereaux Dr

    Year built
    1982
    Lot size
    2.92 lot acres
    Property size
    2,129 SF
    Property type
    Turn key restaurants
    APN
    0035 0001 0006A
    APU
    003500010006A

    Description

    This 1,942 square foot retail property is situated on a 0.56-acre lot at 311 Devereaux Drive in Natchez, Mississippi. Its prime location makes it ideal for a variety of businesses, particularly those in the food service or retail sectors. The building offers ample space for a diverse range of operations, providing flexibility for potential tenants to customize the layout to suit their specific needs. The property's prominent location ensures high visibility and accessibility, attracting significant foot traffic and maximizing exposure to potential customers. This presents a unique opportunity for entrepreneurs and established businesses seeking a strategic location to expand or establish their presence in the Natchez market. The asking price is $179,000, representing a compelling investment opportunity in a thriving commercial area. Serious inquiries are encouraged to explore this exceptional retail space and its potential for growth and profitability. The property is being offered directly by the owner.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $165,000
      Current use
      COMMERCIAL (GENERAL)
      $235,000
      Change: +42% Conversion: Easy
      RETAIL STORES
      $215,000
      Change: +32% Conversion: Easy
      WAREHOUSE, STORAGE
      $190,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Natchez
    County
    Adams
    State
    Mississippi
    Longitude
    -91.3661
    Latitude
    31.5604
    CBSA code
    35020
    CBSA name
    NATCHEZ, MS-LA MICROPOLITAN 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
    $3,228
    $11,250
    $8,086
    $19,336
    -
    $75,000
    $53,910
    $128,910

    Comparable in this City

    • Value Estimation
      $240,000
      800 SF

      612 Franklin St

      RESTAURANT • 800 SF
      612 Franklin St, Natchez, MS 39120-3312
      View Details
    • Value Estimation
      $460,000
      5,163 SF

      Natchez, MS 39120

      RESTAURANT • 5,163 SF
      Natchez, MS 39120
      View Details
    • Value Estimation
      $290,000
      2,728 SF

      34 Sgt Prentiss Dr

      RESTAURANT • 2,728 SF
      34 Sgt Prentiss Dr, Natchez, MS 39120-4726
      View Details
    • Value Estimation
      $345,000
      3,750 SF

      24 Sgt Prentiss Dr

      RESTAURANT • 3,750 SF
      24 Sgt Prentiss Dr, Natchez, MS 39120-4726
      View Details
    • Value Estimation
      $190,000
      1,956 SF

      227 Devereaux Dr

      RESTAURANT • 1,956 SF
      227 Devereaux Dr, Natchez, MS 39120-3751
      View Details
    • Value Estimation
      $235,000
      4,761 SF

      49 Silver St

      RESTAURANT • 4,761 SF
      49 Silver St, Natchez, MS 39120-3453
      View Details

    Similar Nearby for Sale

    • $475,000
      3,744 SF

      Historic Kings Tavern Building

      Three-level antebellum structure in Natchez, suitable for restaurant/retail.
      613 Jefferson St, Natchez, MS 39120
      View Details
    • $550,000
      5,396 SF

      Historic Natchez Mixed-Use Gem

      Bank-owned, 5,396 sq ft, prime location
      613 Jefferson St, Natchez, MS 39120
      View Details
    • $56,500
      500 SF

      Natchez Commercial Building For Sale

      Commercial building in Natchez, MS, suitable for restaurant or retail.
      12 Fourth St, Natchez, MS 39120
      View Details
    • $199,250
      3.43 Acres

      Prime Natchez Land - Hwy 61

      3.43 Acres, Multi-Use Potential
      526 Highway 61, Natchez, MS 39120
      View Details
    • $995,000
      19,434 SF

      Prime Natchez Mixed-Use Investment

      Seven Buildings, 19,434 SF, High Rental Potential
      255 Us-61, Natchez, MS 39120
      View Details
    • $199,000
      1,720 SF

      Turn-Key Automotive Detail Shop

      Automotive detail shop with equipment in Natchez, Mississippi.
      1169 Dr, Natchez, MS 39120
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      43,560 SF

      Natchez Retail Pad - Prime Location

      High-traffic retail pad, build-to-suit option.
      261 Devereux Dr, Natchez, MS 39120
      View Details
    • $4,000 /Mo
      4,000 SF

      Retail Space in Natchez, MS

      4,000 sq ft retail space for rent in Natchez.
      414 Highway 61 N, Natchez, MS 39120
      View Details
    • $4,500 /Mo
      10,000 SF

      Versatile Commercial Space in Natchez

      10,000 sq ft commercial space suitable for various businesses.
      29 Sgt Prentiss Dr, Natchez, MS 39120
      View Details
    • Contact for pricing

      Retail Building on Sargent Prentiss

      5,343 SF retail building with high traffic visibility.
      26 Sargent Prentiss Dr, Natchez, MS 39120
      View Details
    • $2,500 /Mo
      4,000 SF

      Retail Space in Natchez, MS

      4,000 SF retail space suitable for various commercial uses.
      29 Seargent Prentiss Dr, Natchez, MS 39120
      View Details
    • $1,500 /Mo
      1,100 SF

      Natchez Office Space For Rent

      Commercial office space suitable for medical, wellness, or professional use.
      151 Jefferson Davis Blvd, Natchez, MS 39120
      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.
    311 Devereaux Dr
    Natchez, MS 39120-4207
    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.