1215 Pine StHattiesburg, MS 39401

Property Details for 1215 Pine St

Year built

1980

Property size (Sq ft)

7,870 SF

Property type

Retail space

APN

2-038C-16-348.00

APU

2038C1634800

Description

This exceptional Class A warehouse, located at 1215 W Pine St in Hattiesburg, Mississippi, presents a compelling investment opportunity. The property, built in 1980, encompasses a total of 7,932 square feet on a 0.72-acre lot in Forrest County (zip code 39401). The single-story building features a recently remodeled 3,032 square foot showroom in excellent condition, perfectly complementing the 4,900 square feet of warehouse space. The warehouse area boasts multiple overhead doors for efficient loading and unloading. The property offers ample parking with 5 spaces available. The land value is calculated at $56.73 per square foot. Situated on 16th section land, this property benefits from a prime location on the north side of W Pine Street. This turnkey warehouse is priced at $450,000, representing a strong value proposition for investors seeking a well-maintained, functional industrial space in a desirable Mississippi location. The property is zoned for industrial use and is ready for immediate occupancy. This is a rare opportunity to acquire a high-quality warehouse in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,377,900

  6.5%

  $1,271,910

  7%

  $1,181,060

• Comparable approach

  Method

  Valuation

  Relative Method

  $624,344

  Geo Method

  $581,857

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,424,670

  Mixed-Use / Specialty

  $1,289,870

  Hospitality / Lodging

  $975,626

  Office

  $1,305,640

  Institutional / Educational

  $1,348,980

  Residential Income

  $1,578,310

  Multifamily

  $1,768,230

  Automotive / Energy

  $1,156,270

  Parking / Income-Based Land

  $376,789

  Restaurant / Food Service

  $718,883

  Healthcare / Senior Housing

  $1,299,670

Location Insight

City

Hattiesburg

County

Forrest

State

Mississippi

Latitude

31.3152

Longitude

-89.304

CBSA code

25620

CBSA name

HATTIESBURG, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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