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    502 Old Morton Rd Forest, MS 39074
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    Property profile & analytics

    502 Old Morton Rd Forest, MS 39074

    View on Map
    • Commercial real estate
    • 23,000 SF
    • 1.73 lot acres
    Off-Market
    Property ID
    US50-1424393
    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

    • Party House / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Central Mississippi Glass Co / Auto Repair Shop / (Bike/Boat/Book/etc) Store

    Property Details for 502 Old Morton Rd

    Year built
    1971
    Lot size
    1.73 lot acres
    Property size
    23,000 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 502 Old Morton Road in Forest, Mississippi, presents a remarkable investment opportunity. Spanning approximately 1.73 acres, the property boasts a substantial 23,000 square feet of building space, offering immense versatility for a wide range of commercial ventures. Previously utilized as a party supply store and glass repair shop, among other businesses, this adaptable space is ready for its next chapter. The building features multiple roll-up doors, significantly enhancing loading and unloading efficiency for businesses requiring easy access. Beyond the main floor, the property includes a secure safe room, providing added security and storage options. Dedicated office space is available, perfect for administrative functions, and a well-equipped workshop area caters to businesses requiring hands-on production or repair services. The property's ample size and diverse features make it an ideal location for a variety of commercial uses, promising significant returns for the discerning investor. The strategic location within the city of Forest ensures convenient access to local amenities and a thriving community. This is a rare opportunity to acquire a substantial commercial property with significant potential for growth and profitability. Schedule a viewing today to explore the possibilities.

    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
    Forest
    County
    Scott
    State
    Mississippi
    Longitude
    -89.48035
    Latitude
    32.3547

    Comparable in this City

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    • $179,000
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      Highway Frontage Industrial/Commercial Opportunity

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    • $127,500
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      Land on Highway 35, Forest

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      Prime Commercial Land in Forest

      1.6-acre commercial property with mixed-use potential in Forest, MS.
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      5-Acre Land Parcel in Forest, MS

      5-acre land parcel perfect for building or investment.
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    Similar Nearby for Sale

    • $800,000
      41,830 SF

      1 Midway Odom Rd. Rd, Forest, MS 39074

      Commercial real estate • 41,830 SF
      1 Midway Odom Rd. Rd, Forest, MS 39074
      View Details
    • $179,000
      3,350 SF

      Highway Frontage Industrial/Commercial Opportunity

      3 acres with 3,350 SF building plus leasehold land.
      1030 W Third St, Forest, MS 39074
      View Details
    • $127,500
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      Land on Highway 35, Forest

      15 acre commercial land with highway frontage near Forest, MS.
      Ms-35, Forest, MS 39074
      View Details
    • $299,000
      125.00 Acres

      Recreational Land with 10-Acre Lake

      125-acre property with lake, timber, and homesite potential near Forest, MS.
      - Calhoun Ln, Forest, MS 39074
      View Details
    • $60,000
      1.60 Acres

      Prime Commercial Land in Forest

      1.6-acre commercial property with mixed-use potential in Forest, MS.
      1505 E Third St, Forest, MS 39074
      View Details
    • $36,000
      Pending

      5-Acre Land Parcel in Forest, MS

      5-acre land parcel perfect for building or investment.
      Jimmie Dr, Forest, MS 39074
      View Details

    Similar Nearby for Lease

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      Retail Space Available For Rent

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      Retail Space in Walmart Shadow

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      19,700 SF

      Former Grocery Store in Forest

      19,700 SF retail space available for lease or sale.
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    Forest, MS 39074
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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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