For Sale
$500,000

235 Ms-589 Purvis, MS 39475

Fully Leased, High NOI, Excellent Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
133
This exceptional 5,317 square foot office building, located at 235 Hwy 589 in Purvis, Mississippi, presents a compelling investment opportunity. Built in 2005, this single-story, Class C property boasts 100% occupancy with two high-quality tenants, generating a substantial net operating income (NOI) of $47,549 and a strong 9.51% capitalization rate. The asking price is $500,000, translating to a price per square foot of $94.04. The property features a gross lease structure and sits on a sizable 36,590 square foot lot, zoned I-1. This multi-tenant building offers a stable income stream with a proven track record. The property is conveniently located in Lamar County, Mississippi, with easy access to Highway 589. Serious inquiries only. Showings are by appointment only, and lease agreements are available for review upon execution of a non-disclosure agreement.

Highlights

  • 5,317 SF office building in Purvis, MS, built in 2005.
  • 100% occupied with two tenants, generating $47,549 NOI and a 9.51% cap rate.
  • Asking price: $500,000 ($94.04/SF).
  • Gross lease structure, 36,590 SF lot, I-1 zoning.
  • Located on Hwy 589 in Lamar County, MS.

Property Details for 235 Ms-589

Property type
Office properties
Square Feet
5,317 SF
Class
C
Year Built
2005
Buildings
1
Stories
1

Location Insight

City
Purvis
County
Lamar
State
Mississippi
Latitude
31.141316657743
Longitude
-89.385001735099

FAQs

What type of property is this?
Office property - Fully Leased, High NOI, Excellent Cap Rate
Where is the office property located?
The property is located at 235 Ms-589 Purvis, MS.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 5,317 SF office building in Purvis, MS, built in 2005.; 100% occupied with two tenants, generating $47,549 NOI and a 9.51% cap rate.; Asking price: $500,000 ($94.04/SF).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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235 Ms-589
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