10 Bellegrass BlvdHattiesburg, MS 39402

Property Details for 10 Bellegrass Blvd

Year built

2011

Property size (Sq ft)

4,160 SF

Property type

Office properties

Property subtype

Office buildings

APN

1072-26-016.400

APU

107226016400

Description

This exceptional Class A office building at 10 Bellegrass Blvd., Hattiesburg, MS, presents a unique investment opportunity. The offering includes the entire lower level (over 4000 square feet), the building's shell, and a controlling interest in the four-member condo association. The spacious interior boasts three bathrooms, a large corner conference room, multiple office suites, and a break room. The layout is highly adaptable, allowing for easy division into two, or potentially three, separate suites. Historically, the space has leased at $18 per square foot annually, presenting significant upside potential through rent increases. The building was originally constructed by Walker Thrash for the current owner. This prime location within Hattiesburg's Bellegrass community center provides an impressive address to attract clients and customers. The current owner is open to the possibility of leasing back a portion of the space from the new owner. Showings are strictly by appointment only. The asking price for this exceptional property is $825,000. This is a rare opportunity to acquire a well-maintained, high-potential office building in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $598,846

  6.5%

  $552,781

  7%

  $513,296

• Comparable approach

  Method

  Valuation

  Relative Method

  $317,328

  Geo Method

  $295,734

• Alternative Use

  Use

  Valuation

  Residential

  $685,448

  Hospitality

  $627,867

  Educational

  $522,378

  Medical

  $540,343

  Retail

  $812,588

Location Insight

City

Hattiesburg

County

Lamar

State

Mississippi

Latitude

31.2855

Longitude

-89.4701

CBSA code

25620

CBSA name

HATTIESBURG, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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