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    Galleria Parkway Madison, MS 39110

    View on Map
    For Sale
    $5,500,000

    COMMERCIAL - Madison, MS

    Type:Retail
    Property size:
    283,140 SF
    Lot size:
    6.50 Acres
    Added:
    Dec 5, 2025
    Days on Market:
    117
    Last Refresh:
    Apr 1 at 1:06 pm

    Property Features for Galleria Parkway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    APN
    072c-07a-009/02.02
    Size
    283,140 SF
    Lot size
    6.50 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    6.5 AC OUT LOT 13 RICHLAND PLANTATION
    TaxAnnualAmount
    42812

    Building Details

    Year built
    1800

    We can help!

    Listing Contact
    Chad Doiron

    Listing agent Chad Doiron License #S59663

    Listing office JDJ Realty 164 Watford Pkwy Dr, Madison, MS

    Listing date Dec 5, 2025

    MLS# 4133276

    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.

    Overview

    Prime Commercial Land in Madison

    This approximately 6.5-acre commercial tract is strategically located at the signalized intersection of Galleria Parkway and Garden Park Drive, just off Highway 463 (Main Street) in Madison, Mississippi. It offers a development site in a fast-growing trade area. The property is situated within an area of commercial growth and is adjacent to the upcoming Gallery Entertainment District, a destination project planned to feature dining, retail, entertainment, and lifestyle attractions. The property's value is enhanced by its proximity to the Reunion Parkway bridge expansion, a publicly funded infrastructure project that will create an east-west connection between Reunion's residential community and Madison's commercial retail corridor along Hwy 463. Surrounding commercial amenities include office parks, medical facilities, restaurants, banks, national retailers, and service providers, all located within minutes of the site. The property is also directly adjacent to established residential neighborhoods and multifamily communities. Zoned C3, the site features frontage on Galleria Parkway and Garden Park Drive and is situated directly across from Madison's newest $60 million commercial development, ''The Gallery Arts & Entertainment Complex''. It provides access to I-55, Hwy 51, and Hwy 463 Main Street. Nearby arterial roadways offer connectivity to Jackson, Ridgeland, Flowood, and the greater Madison County area. The site benefits from high visibility and traffic counts in a key artery of Madison County (approximately 60,000 VPD), strong demographics, and proximity to professional businesses. It is a development-ready site.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Madison
    County
    Madison
    State
    Mississippi
    Longitude
    -90.129681
    Latitude
    32.47393

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    FAQs

    What type of property is this?
    Commercial land - 6.5 acres in high-growth area near entertainment district.
    Where is this commercial land located?
    The property is located at Galleria Parkway Madison, MS.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: Premier development site in rapidly growing Madison commercial area.; Adjacent to the forthcoming Gallery Entertainment District, a major destination.; Proximity to the Reunion Parkway bridge expansion, creating direct transportation link.
    (601) 260-0335
    We can help!
    Listing Contact
    Chad Doiron
    Real Estate License ID: S59663
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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