Flex Space with
For Sale
$375,000
625 Highway 49, Richland, MS 39218
Commercial Sale, Richland, MS
Property Size2,500 SF
Lot Size0.89 Acres
Price / SF$150
Days on Market148
Property Features for 625 Highway 49
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
APN
D07f000040 00030
Size
2,500 SF
Lot size
0.89 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 3 COLONIAL SQUARE SUB L/E 4662 SQ FT ALOS LESS .24 AC IN SE COR DB 586 PG 613 102089
Tax Annual Amount
3365
Legal Description
LOT 3 COLONIAL SQUARE SUB L/E 4662 SQ FT ALOS LESS .24 AC IN SE COR DB 586 PG 613 102089
Amenities
kitchenette
conference room
Building Details
Year built
2010
Listing Agency:
Overby, Inc.
(601) 366-8511
Listed By:
Sterling McCool · License #22633
(601) 624-3227
Added: Apr 10
Changed: Aug 26
Last Checked: Sep 4 at 5:06PM
MLS# 4145800
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 2,500-square-foot flex property combines office and warehouse space on a 0.89-acre site. The office portion includes a reception area, offices, kitchenette, and restroom, while a heated and cooled mezzanine provides conference or storage space. The warehouse has three grade-level roll-up doors—two measuring 12X16 and one measuring 12x18—along with high ceilings designed for stackable storage or equipment. Built in 2010, the property was recently net leased to a national credit tenant.
The site fronts Highway 49 and provides direct access and visibility from the corridor. Traffic exposure is reported at approximately 50,000 vehicles per day, with proximity to the I-20/I-55/US-49 intersection supporting access across the central Mississippi market.
The site fronts Highway 49 and provides direct access and visibility from the corridor. Traffic exposure is reported at approximately 50,000 vehicles per day, with proximity to the I-20/I-55/US-49 intersection supporting access across the central Mississippi market.
Key Highlights
- 2,500 square feet of office and warehouse space on 0.89 acres
- Highway 49 frontage with approximately 50,000 vehicles per day
- Three grade‑level roll‑up doors: two 12X16 and one 12x18
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
$27,000
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
7.20%
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%
$540,000
$540.0K
Cap Rate 7%
$385,714
$385.7K
Cap Rate 9%
$300,000
$300.0K
Market Conditions
NOI Build-Up for 2,500 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
$45.0K $18.00/SF
− Vacancy
−$9.0K −$3.60/SF
EGI
$36.0K $14.40/SF
− OpEx
−$9.0K −$3.60/SF
NOI
$27.0K $10.80/SF
Area
Rankin County, MS
Vacancy
20.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$540,000
Cap Rate 7%
$385,714
Cap Rate 9%
$300,000
Alternative Uses
Best Use
Office B
$385.7K
$337.5K – $450.0K
NOI $27,000 @ 7.0% cap · market cap 7.20%
Second Best
Warehouse
$268.2K
$234.7K – $312.9K
NOI $18,775 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$685.7K
$600.0K – $800.0K
NOI $48,000 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39218, MS
7,231
Population
2,950
Households
2.5
Avg Household Size
36
Median Age
26%
College-Educated
89%
High-School Grad
17.7 sq mi
ZIP Area
409
Density / Sq Mi
$63,103
Median Household Income
$37,279
Median Earnings
$1,146
Median Rent
$135,100
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 - Office and warehouse improvements support administrative functions, storage, and equipment access.
Where is this flex space located?
The property is located at 625 Highway 49 Richland, MS.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,500 square feet of office and warehouse space on 0.89 acres; Highway 49 frontage with approximately 50,000 vehicles per day; Three grade‑level roll‑up doors: two 12X16 and one 12x18
