624 Highway 487 Lena, MS $ 1,500,000
624 Highway 487
$ 1,500,000
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624 Highway 487

Lena, MS, 39094
$ 1,500,000
Baths0.0

Monthly Estimate*

$ 9,969

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Studio

Lots and Land for sale in Lena, MS

for $1,500,000. The lot size is 177.

If you're looking for a lucrative and potentially exciting investment opportunity, then stop and take a look at this! Here is your opportunity to take a piece of land that already has significant income, maximize the potential that this property presents, and make a great return on your money. This 177 acre tract is the site of the once famous Lena Dragway, aka Mississippi Motorsports Park, in Lena, MS. The asphalt drag strip is approximately 3/4 mile long and could easily be opened back up as a racetrack or converted into a runway for a personal airplane. Currently on the property there are 5 single wide manufactured homes, a house, a small apartment attached to the house and 5 units in the Grand Stand Building. These are rented out and bring in $8000/month gross per the owner. There is also a 25+ acre lake with a gazebo and a covered pier that would make a terrific recreational lake for an RV park or campground. There are multiple other structures on the property that could easily be converted into workshops, storage or more rentable facilities. The lay of this land really allows for you to use your imagination and turn it into a money making investment. The possibilities on this property are extraordinary and present you the potential opportunity of a lifetime! Don't miss out on this... Call today before it's too late!

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Lots and Land Active

Price

$ 1,500,000

Bedrooms

Studio

Property Type

Lots and Land

Taxes

$ 8,679

Style

Acreage (more than 10 acres)

Lot Size

177

Town/City

Lena

County/Region

Leake

MLS | Web ID

4068817

Features
General
Sewer Septic Tank
Utilities Electricity Connected Sewer Not Available Water Connected
current use Hay Hunting Investment Multi-Family Recreational
HOA No
New Construction No
Community Features Lake
Subdivision Metes And Bounds
County Leake
Property Type B
Location Rural
Tax Year 2022
Status Active
Sub Type Acreage (more than 10 acres)
City Lena
Legal Description FOREST MS39074 PT NE4 & PT N2 SE4 & PT SE/SE S/T/R 14 -09 -07E BLOCK
Street Name Highway 487
Flood Insurance Required? Subject to Survey
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Exterior
Exterior Features Dock Private Entrance
Lot Features Few Trees Level
Fencing Partial
Other Structures Mobile Home Outbuilding Residence Second Garage Second Residence Shed(s) Storage Tenant House Workshop
Water Source Community
WaterFront Features Creek Lake Pier Water Access
Waterfront Features: Waterfront Yes
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* Excluded Features
List By
Adam Moore

Listing Agent

Pursuit Properties, Llc

Broker

adam@realpursuit.com

Email

Affordability Calculator

$10,693
Per Month
93%
7%
0%
Monthly Principal & Interest
$9,969
Monthly Property Taxes
$723
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
1580642 Elementary School
1580615 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
3/25/2024$1,500,000 -6.25% Price Down
3/1/2024$1,600,000 -8.57% Price Down
1/24/2024$1,750,000 Listed Price

Map


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624 Highway 487, Lena, MS, 39094 is a Lots and Land for sale at $1,500,000 with a lot size of 177. 624 Highway 487 is a studio with 0.0 baths. The property's zip code is 39094 which is in Lena, MS