2305 Lakeland DrFlowood, MS 39232

For Sale
$3,310,000

Class B Office, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional investment opportunity presents a 30,000-square-foot, two-story Class B office building situated on a 2.74-acre lot in Flowood, Mississippi. Currently vacant, this property offers significant upside potential. Built in 1987 and renovated in 2016, the building boasts 220 parking spaces and is zoned C-3 (General Commercial), allowing for diverse uses. The property's strong financial performance is highlighted by a substantial net operating income (NOI) of $369,817, resulting in an attractive 11.17% capitalization rate. Located at 2305 Lakeland Drive, 39232, the property benefits from high visibility on a road with 51,000 vehicles per day. The existing structure presents a unique opportunity for conversion to a Class A office building or a medical office facility, capitalizing on Flowood's growing medical district and limited Class A office space. The ample parking and expansive lot size further enhance the property's appeal and potential for future development. This is a compelling investment prospect with strong cash flow potential and significant long-term growth opportunities. The asking price is $3,310,000.

Highlights

  • Adaptive reuse potential: Medical or Class A office conversion.
  • 2.74-acre site.
  • Abundant parking: 220 spaces.
  • High traffic count: 51,000 vehicles per day on Lakeland Drive.

Property Details for 2305 Lakeland Dr

Property type
Other office properties, Medical offices
Square Feet
30,000 SF
Class
B
Year Built/Renovated
1987/2016
Buildings
1
Stories
2
Lot Size (sq. ft)
119,354 SF

Location Insight

City
Flowood
County
Rankin
State
Mississippi
Latitude
32.3293837
Longitude
-90.1245112
2305 Lakeland Dr, Flowood, Mississippi

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2305 Lakeland Dr
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