Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    515 Lk Harbour Dr Ridgeland, MS 39157-4208
    Back to Search
    Property profile & analytics

    515 Lk Harbour Dr, Ridgeland, MS 39157-4208

    View on Map
    • Turn key restaurants
    • 6,904 SF
    Off-Market
    Last Sale May 6, 2022
    Property ID
    US50-0732445
    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

    • Primos Cafe / Restaurant

    Property Details for 515 Lk Harbour Dr

    Year built
    2006
    Property type
    Turn key restaurants
    APN
    072I-32B-012/02
    APU
    072I32B01202

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 6, 2022 — Mmi Primos LLC Pvp LLC Warranty Deed —
    Nov 9, 2005 — Pvp LLC Owner,record Grant Deed —
    Apr 9, 2005 — Record Owner Owner,record Quit Claim Deed · related —

    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
    Ridgeland
    County
    Madison
    State
    Mississippi
    Longitude
    -90.1167
    Latitude
    32.4135
    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
    $22,092
    $0.00
    $0.00
    $205,013
    -
    $389,420
    $977,330
    $1,366,750

    Comparable in this City

    • Value Estimation by Request
      1,038 SF

      102 Pne Knl Dr

      RESTAURANT
      102 Pne Knl Dr, Ridgeland, MS 39157-1372
      View Details
    • Value Estimation by Request
      3,499 SF

      800 County Line Rd

      RESTAURANT
      800 County Line Rd, Ridgeland, MS 39157-1930
      View Details
    • Value Estimation by Request
      3,429 SF

      826 County Line Rd

      RESTAURANT
      826 County Line Rd, Ridgeland, MS 39157-1930
      View Details
    • Value Estimation by Request
      3,307 SF

      1100 County Line Rd

      RESTAURANT
      1100 County Line Rd, Ridgeland, MS 39157-1935
      View Details
    • Value Estimation by Request
      2,836 SF

      238 Hwy 51

      RESTAURANT
      238 Hwy 51, Ridgeland, MS 39157-4422
      View Details
    • Value Estimation by Request
      1,403 SF

      796 Lk Harbour Dr

      RESTAURANT
      796 Lk Harbour Dr, Ridgeland, MS 39157-4303
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,459 SF

      Ridgeland Retail Property For Sale

      Retail property with drive-thru lane and pylon signage available.
      1070 E County Line Rd, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Freestanding Restaurant in Prime Location

      Former Burger King with drive-thru in Ridgeland's retail corridor.
      780 Lake Harbour Dr, Ridgeland, MS 39157
      View Details
    • Contact for pricing
      Pending

      Event Venue Overlooking Reservoir

      Turn-key event venue with exceptional reservoir views.
      140 Madison Landing Cir, Ridgeland, MS 39157
      View Details
    • Contact for pricing
      8,000 SF

      Ridgeland Retail Building For Sale

      8,000 SF retail building with leasing opportunities.
      898 Centre St, Ridgeland, MS 39157
      View Details
    • New
      $2,500,000
      10,125 SF

      Two-Story Showroom and Warehouse

      Two-story commercial building with showroom, storage, and oversized roll-up doors on a corner lot with ample parking.
      812 Lake Harbour Dr, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Ridgeland Retail Building For Sale

      Four-unit retail building in Ridgeland, Mississippi, 100% occupancy.
      1230 E County Line Rd, Ridgeland, MS 39157
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      2,911 SF

      Ridgeland Burger King Sublease

      Prime Restaurant Sublease Opportunity
      780 Lake Harbour Dr, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Freestanding Restaurant in Prime Location

      Former Burger King with drive-thru in Ridgeland's retail corridor.
      780 Lake Harbour Dr, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      High-Visibility Retail and Office Spaces

      Premier commercial corridor location with flexible configurations for various businesses.
      1060 E County Line Rd, Ridgeland, MS 39157
      View Details
    • $3,020 /Mo
      1,572 SF

      Prime Retail Space Available

      High-visibility retail space in a busy Ridgeland corridor.
      1060 E County Line Rd, Ridgeland, MS 39157
      View Details
    • $1,550 /Mo
      900 SF

      Retail Space in Ridgeland, MS

      Turn-key retail/bakery space in a well-located neighborhood center.
      655 Lake Harbour Dr, Ridgeland, MS 39157
      View Details
    • $1,813 /Mo
      1,450 SF

      Prime Retail Space in Ridgeland

      High-visibility retail space with recent upgrades and flexible configurations.
      1060 E County Line Rd, Ridgeland, MS 39157
      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.
    515 Lk Harbour Dr
    Ridgeland, MS 39157-4208
    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

    Thank You for Inquiry
    515 Lk Harbour Dr, Ridgeland, MS, 39157
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!