100 W Elizabeth Street, Picayune, MS 39466 (MLS# 4157803)

100 W Elizabeth Street, Picayune, MS 39466

New Listing

$550,000

Virtual Tour

https://www.propertypanorama.com/100-W-Elizabeth-Street-Picayune-MS-39466/unbranded

Property Type: Commercial Sale Bedrooms: 9 Square Footage: 4,650 Lot Size (sq. ft.): 10,019 Status: Active

Current Price: $550,000 List Date: 8/01/2026 Last Modified: 8/01/2026

Overview

Description

**100 Elizabeth Street | Picayune, Mississippi** **Multifamily Investment Opportunity** This six-unit multifamily property presents an exceptional investment opportunity in the heart of downtown Picayune. Offering stable in-place cash flow, multiple income streams, and immediate upside potential, this asset is well-positioned for investors seeking long-term income and operational flexibility. Property Highlights * Six-unit multifamily property * Three 2-bedroom, 1-bath apartments * Three 1-bedroom, 1-bath apartments * Prime downtown corner location with dual street frontage * Adjoining parcel included for dedicated tenant parking * Municipal utilities * Located in Flood Zone X * Zoned C-2 Downtown Commercial Income-Producing Features * Established rental property with documented operating history * Diversified income through both traditional apartment rentals and an existing furnished corporate rental * Furnished corporate rental has generated income through Airbnb, VRBO, direct b ... (Read more) **100 Elizabeth Street | Picayune, Mississippi** **Multifamily Investment Opportunity** This six-unit multifamily property presents an exceptional investment opportunity in the heart of downtown Picayune. Offering stable in-place cash flow, multiple income streams, and immediate upside potential, this asset is well-positioned for investors seeking long-term income and operational flexibility. Property Highlights * Six-unit multifamily property * Three 2-bedroom, 1-bath apartments * Three 1-bedroom, 1-bath apartments * Prime downtown corner location with dual street frontage * Adjoining parcel included for dedicated tenant parking * Municipal utilities * Located in Flood Zone X * Zoned C-2 Downtown Commercial Income-Producing Features * Established rental property with documented operating history * Diversified income through both traditional apartment rentals and an existing furnished corporate rental * Furnished corporate rental has generated income through Airbnb, VRBO, direct bookings, and corporate stays * Furnishings convey with the sale, allowing the next owner to continue operations immediately without additional capital investment * One vacant unit offers an identifiable opportunity to increase revenue through lease-up rather than speculative redevelopment Investment Advantages The property's downtown location provides convenient access to restaurants, retail, and local businesses, supporting both long-term residential leasing and furnished corporate rental demand. Market conditions indicate low vacancy rates, limited concessions, and strong rental demand, reinforcing the property's stable operating profile. With a balanced unit mix, multiple revenue sources, dedicated off-street parking, and a documented history of income production, this property offers investors a combination of current cash flow and near-term growth potential. Its stabilized operating performance is supported by actual rental income and recurring operating expenses, providing a strong foundation for long-term investment ownership. For additional financial information, operating details, or to discuss this investment opportunity, please contact me.

Listing Details MLS# 4157803

General Property Information

Approx Lot Size Acres: 0.23
Lot Size Dimensions: 980x1950
Approx H/C SqFt: 4650
SqFt Source: Appraiser
List Price/SqFt: 118.28
Year Built Known: Yes
Divisible: No
Year Built: 1940
Year Built Source: Appraiser
Total Floors: 2
Bedrooms Total: 9
Bathrooms Full: 6
Pool: No
Accessibility Features: No
Property Sub Type: Apartment
New Construction: No

Property Features

Business Type: Rental Current Use: Multi-Family Possible Use: Hotel/Motel; Retail Lot Features: City Lot; Corner Lot Location: Central Business District; Corner Lot Levels: Two Expenses Include: Electric; Insurance; Maintenance; Taxes; Trash Removal; Water/Sewer Cooling: Ceiling Fan(s); Central Air; Window Unit(s) Heating: Central Utilities: Electricity Connected; Sewer Connected Sewer: Public Sewer Water Source: Public Listing Terms: Cash; Conventional; SBA; Other Sale Options: Under Lease Driveway Features: Gravel Drive Price Includes: All Appliances; Building and Land; Leases; Some Furnishings Available Documents: Operating Expense Report Available

Address and Location Information

Street Number: 100
Street Direction: W
Street Name: Elizabeth
Street Suffix: Street
County: Pearl River
State: MS
Zip Code: 39466
Nearest Cross Street: Main Street
Parcel Number: 6-17-5-15-001-050-3900
PPIN: 023984
Directions to Property: From I-59 take Exit 4 toward Picayune. Turn Left at the red light. Go down Memorial Blvd to Hwy 11. Take a right on Hwy 11. Go to Canal Street and turn left at the red light. Go over the railroad tracks and at the red light take a left on Main Street. The property is on the right on Elizabeth Street

Listing Information

Property Sub Type: Apartment
Listing Service: Full Service
Never Occupied: No

Tax and Financial Information

Tax Annual Amount: 4309
Tax Year: 2025
Flood Insurance Required?: No
Leasehold Y/N: Yes
Legal Description: J.W. SIMMON'S SUB 1ST ADD BLOCK H LOT 3 & E 60' OF LOT 2 BK 888 PG 30711/07/2005

Commercial Features

% Leased: 100
Business Included: No
Divisible: No
Expandable: No

More Information

Auction

Auction: No

Showing Requirements

Showing: Appointment Required
Appointment Phone: 228-596-9916
Lockbox Location: Front Door

Basement Features

Basement: No

Location

Central Business District: Yes
City: Yes
Corner Lot: Yes

Remarks & Miscellaneous

Public Remarks: **100 Elizabeth Street | Picayune, Mississippi** **Multifamily Investment Opportunity** This six-unit multifamily property presents an exceptional investment opportunity in the heart of downtown Picayune. Offering stable in-place cash flow, multiple income streams, and immediate upside potential, this asset is well-positioned for investors seeking long-term income and operational flexibility. Property Highlights * Six-unit multifamily property * Three 2-bedroom, 1-bath apartments * Three 1-bedroom, 1-bath apartments * Prime downtown corner location with dual street frontage * Adjoining parcel included for dedicated tenant parking * Municipal utilities * Located in Flood Zone X * Zoned C-2 Downtown Commercial Income-Producing Features * Established rental property with documented operating history * Diversified income through both traditional apartment rentals and an existing furnished corporate rental * Furnished corporate rental has generated income through Airbnb, VRBO, direct bookings, and corporate stays * Furnishings convey with the sale, allowing the next owner to continue operations immediately without additional capital investment * One vacant unit offers an identifiable opportunity to increase revenue through lease-up rather than speculative redevelopment Investment Advantages The property's downtown location provides convenient access to restaurants, retail, and local businesses, supporting both long-term residential leasing and furnished corporate rental demand. Market conditions indicate low vacancy rates, limited concessions, and strong rental demand, reinforcing the property's stable operating profile. With a balanced unit mix, multiple revenue sources, dedicated off-street parking, and a documented history of income production, this property offers investors a combination of current cash flow and near-term growth potential. Its stabilized operating performance is supported by actual rental income and recurring operating expenses, providing a strong foundation for long-term investment ownership. For additional financial information, operating details, or to discuss this investment opportunity, please contact me.

Current Use

Multi-Family: Yes

Possible Use

Hotel/Motel: Yes
Retail: Yes

Business Type

Rental: Yes

Lot Features

City Lot: Yes
Corner Lot: Yes

Levels

Two: Yes

Sewer

Public Sewer: Yes

Water Source

Public: Yes

Listing Terms

Cash: Yes
Conventional: Yes
SBA: Yes
Other: Yes

Utilities

Electricity Connected: Yes
Sewer Connected: Yes

Expenses Include

Electric: Yes
Insurance: Yes
Maintenance: Yes
Taxes: Yes
Trash Removal: Yes
Water/Sewer: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Window Unit(s): Yes

Heating

Central: Yes

Sale Options

Under Lease: Yes

Driveway Features

Gravel Drive: Yes

Price Includes

All Appliances: Yes
Building and Land: Yes
Leases: Yes
Some Furnishings: Yes

Available Documents

Operating Expense Report Available: Yes

Uncovered Parking?

1-25 Spaces: Yes

Listing Office: Real Broker, LLC.

Listing Agent: Amy Olson

Last Updated: August - 01 - 2026