Renovated Flex Space with
For Sale
$1,100,000
206 Park Court, Ridgeland, MS 39157
Commercial Sale, Ridgeland, MS
Property Size10,521 SF
Lot Size0.36 Acres
Price / SF$104.55
Days on Market167
Property Features for 206 Park Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Subdivision
Metes And Bounds
Directions
From I-55 and W. Jackson Street head E. towards Hwy 51 to R. onto N. Perkins and R. onto S. Perkins, L. onto Park Court and last L. into cul-de-sac. 206 Park Court is on the left.
Standard status
Active
APN
072i-30b-003-06-00
Size
10,521 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 1 HARRIS 2 LOT SUBDIVISION - F INAL PLAT
Tax Annual Amount
5860
Legal Description
LOT 1 HARRIS 2 LOT SUBDIVISION - F INAL PLAT
Amenities
multi-zone HVAC
LED lighting
security and access control systems
exterior storage capability
pre-wired for EV charging
Building Details
Year built
2005
Listing Agency:
Overby, Inc.
(601) 366-8511
Listed By:
Amanda P Overby · License #B19487
(601) 624-4611
Added: Mar 18
Changed: Aug 26
Last Checked: Aug 31 at 1:06AM
MLS# 4142787
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 10,521-square-foot flex property combines approximately 3,388 square feet of heated and cooled office space with approximately 7,100 square feet of warehouse and shop area. Office improvements include luxury vinyl tile flooring, updated ceilings and trim, a custom reception wall, a renovated breakroom with cabinetry, granite countertops, and appliances, plus refreshed restrooms. The facility also includes multi-zone HVAC, LED lighting, sprinkler coverage, security and access control systems, and dedicated parking.
The operational area provides 208-volt, three-phase electrical service, extensive 220-volt outlets, warehouse heating, and a large roll-up overhead door. The building is pre-wired for future EV charging and offers exterior storage capability. Built in 2005 with steel-frame construction, a brick facade, and metal siding, the property occupies 0.36 acres and is currently owner-occupied.
The operational area provides 208-volt, three-phase electrical service, extensive 220-volt outlets, warehouse heating, and a large roll-up overhead door. The building is pre-wired for future EV charging and offers exterior storage capability. Built in 2005 with steel-frame construction, a brick facade, and metal siding, the property occupies 0.36 acres and is currently owner-occupied.
Key Highlights
- 10,521 square feet total with approximately 3,388 square feet of office and approximately 7,100 square feet of warehouse/shop space
- 208‑volt, three‑phase electrical service with extensive 220‑volt outlets
- Heated warehouse and shop area with a large roll‑up overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$84,493
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,689,860
$1.7M
Cap Rate 7%
$1,207,043
$1.2M
Cap Rate 9%
$938,811
$938.8K
Market Conditions
NOI Build-Up for 10,521 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$147.7K $14.04/SF
− Vacancy
−$17.7K −$1.68/SF
EGI
$130.0K $12.36/SF
− OpEx
−$45.5K −$4.32/SF
NOI
$84.5K $8.03/SF
Area
Madison County, MS
Vacancy
12.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,689,860
Cap Rate 7%
$1,207,043
Cap Rate 9%
$938,811
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.86M
NOI $111,899 @ 7.0% cap · market cap 10.17%
Second Best
Flex RnD
$1.21M
$1.06M – $1.41M
NOI $84,493 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,320 @ 7.0% cap · market cap 14.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39157, MS
24,611
Population
11,690
Households
2.1
Avg Household Size
39
Median Age
50%
College-Educated
94%
High-School Grad
30.0 sq mi
ZIP Area
820
Density / Sq Mi
$63,552
Median Household Income
$42,516
Median Earnings
$1,205
Median Rent
$259,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Modernized office and shop property with integrated warehouse functions, upgraded finishes, dedicated parking, and controlled access.
Where is this flex space located?
The property is located at 206 Park Court Ridgeland, MS.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 10,521 square feet total with approximately 3,388 square feet of office and approximately 7,100 square feet of warehouse/shop space; 208‑volt, three‑phase electrical service with extensive 220‑volt outlets; Heated warehouse and shop area with a large roll‑up overhead door
