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    4240 Lakeland Dr Flowood, MS 39232-8804
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    4240 Lakeland Dr Flowood, MS 39232-8804

    View on Map
    • Retail space
    • 6,888 SF
    • 0.50 lot acres
    Off-Market
    Property ID
    US50-0021546
    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
    $870,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 4240 Lakeland Dr

    Year built
    1993
    Lot size
    0.50 lot acres
    Property size
    6,888 SF
    Property type
    Retail space
    APN
    F10N000019 00010
    APU
    F10N00001900010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $867,000
      Market price range: $280k - $868k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $595,000
      Current use
      RESTAURANT
      $785,000
      Change: +32% Conversion: Easy
      COMMERCIAL (GENERAL)
      $610,000
      Change: +3% Conversion: Easy
      AUTO REPAIR, GARAGE
      $585,000
      Change: -2% Conversion: Difficult
      MEDICAL BUILDING
      $550,000
      Change: -7% Conversion: Difficult
      OFFICE BUILDING
      $545,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Flowood
    County
    Rankin
    State
    Mississippi
    Longitude
    -90.0916
    Latitude
    32.3395
    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
    $6,201
    $0.00
    $0.00
    $57,630
    -
    $152,460
    $231,740
    $384,200

    Comparable in this City

    • Value Estimation
      $1,895,000
      15,052 SF

      4201 Lakeland Dr

      RETAIL STORES (PERSONAL SERVICES) • 15,052 SF
      4201 Lakeland Dr, Flowood, MS 39232-9212
      View Details
    • Value Estimation
      $560,000
      4,446 SF

      110 Lakeland Hts Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,446 SF
      110 Lakeland Hts Blvd, Flowood, MS 39232-6676
      View Details
    • Value Estimation by Request
      1,407 SF

      5339 Hwy 25

      RETAIL STORES (PERSONAL SERVICES) • 1,407 SF
      5339 Hwy 25, Flowood, MS 39232-6173
      View Details
    • Value Estimation by Request
      3,383 SF

      5348 Hwy 25

      RETAIL STORES (PERSONAL SERVICES) • 3,383 SF
      5348 Hwy 25, Flowood, MS 39232-6015
      View Details
    • Value Estimation by Request
      3,202 SF

      1695 Old Fannin Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,202 SF
      1695 Old Fannin Rd, Flowood, MS 39232-8148
      View Details
    • Value Estimation
      $1,050,000
      8,317 SF

      3633 Flowood Dr

      RETAIL STORES (PERSONAL SERVICES) • 8,317 SF
      3633 Flowood Dr, Jackson, MS 39232-8102
      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
    • 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
    • Contact for pricing

      Prime Retail Development Land

      15.83 acre tract in Flowood's retail and business district.
      Freedom Bnd, Flowood, MS 39232
      View Details
    • Contact for pricing

      Lakeland Drive Outparcel For Sale

      1.3 acre outparcel on Lakeland Drive, ideal for retail.
      5653 Ms-25, Brandon, MS 39232
      View Details
    • $3,500,000
      10,000 SF

      Flowood Commercial Buildings on Lakeland

      Two modern commercial buildings totaling 10,007 SF on 2.88 acres.
      5076 Lakeland Dr, Flowood, MS 39232
      View Details
    • Contact for pricing

      Outparcel on Lakeland Drive

      1.3 acre outparcel ideal for car wash or QSR.
      5653 Highway 25, Flowood, MS 39232
      View Details

    Similar Nearby for Lease

    • $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
    • $3,500 /Mo
      2,040 SF

      Retail Space in Flowood, MS

      2,040 SF retail space available for lease.
      5080 Lakeland Dr, Flowood, MS 39232
      View Details
    • Contact for pricing
      3,334 SF

      Retail Space Near Walmart

      Retail space in Walmart shadow center near major intersections.
      901 Lakeland Pl, Flowood, MS 39232
      View Details
    • Contact for pricing
      2,183 SF

      Retail Center Shadow Anchored

      Retail space available in a high-traffic Flowood location.
      5341 Highway 25, Flowood, MS 39232
      View Details
    • Contact for pricing

      Freestanding Former QSR For Lease

      High-visibility, turn-key restaurant or retail location in active commercial corridor.
      1000 Top St, Flowood, MS 39232
      View Details
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    Flowood, MS 39232-8804
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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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