Two-Story Brick Office
New
For Sale
Contact for pricing
1 Woodgreen Place, Madison, MS 39110
Corner-lot office property with established occupancy, surface parking, and direct frontage on Main St.
Property Size11,534 SF
Price / SF$239.28
Days on Market6
Property Features for 1 Woodgreen Place
General Information
Standard status
Active
Size
11,534 SF
Net Rentable
10,644 SF
Class
B
Total Parking Spaces
42
Property subtype
Office
Zoning
C-1
Occupancy
95%
Lease Type
NN
Investment Type
Stabilized
Net Operating Income
$215,000
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1986
Year Renovated
2023
Buildings
1
Stories
2
Units
9
Tenancy
Multi
Construction
brick
Listing Agency:
Realty ONE Group Prime
Listed By:
Trey Guerieri · License #23160
Source:
Crexi
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 10 at 4:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty ONE Group Prime
Investment Insights
Based on property information with market context.
This two-story brick office building contains 10,644 SF of net rentable area and was built in 1986. Window-lined north and south elevations bring natural light to the interior, while the corner-lot configuration provides a distinct physical presence. The property includes 42 surface parking spaces and is zoned C-1.
Located at 1 Woodgreen Place in Madison, the building fronts Main St (Hwy 463) and is near the main Madison exit from I-55. Current occupancy is 95.2%, with a tenant mix in place and space that may accommodate an owner-occupant within the existing building.
Located at 1 Woodgreen Place in Madison, the building fronts Main St (Hwy 463) and is near the main Madison exit from I-55. Current occupancy is 95.2%, with a tenant mix in place and space that may accommodate an owner-occupant within the existing building.
Key Highlights
- 10,644 SF of net rentable office area across two stories
- 1986‑built brick office building on a corner lot
- 42‑space surface parking lot
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
$122,673
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
4.44%
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%
$2,453,460
$2.5M
Cap Rate 7%
$1,752,471
$1.8M
Cap Rate 9%
$1,363,033
$1.4M
Market Conditions
NOI Build-Up for 11,534 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
$200.7K $17.40/SF
− Vacancy
−$37.1K −$3.22/SF
EGI
$163.6K $14.18/SF
− OpEx
−$40.9K −$3.55/SF
NOI
$122.7K $10.64/SF
Area
Madison County, MS
Vacancy
18.50%
Lease Rate
$17.40 /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%
$2,453,460
Cap Rate 7%
$1,752,471
Cap Rate 9%
$1,363,033
Alternative Uses
Best Use
Office B
$1.75M
$1.53M – $2.04M
NOI $122,673 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,756 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
Explore this area
Business Placement
Demographics for 39110, MS
48,474
Population
18,305
Households
2.6
Avg Household Size
41
Median Age
64%
College-Educated
97%
High-School Grad
74.3 sq mi
ZIP Area
652
Density / Sq Mi
$122,955
Median Household Income
$62,071
Median Earnings
$1,979
Median Rent
$342,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Corner-lot office property with established occupancy, surface parking, and direct frontage on Main St.
Where is this office building located?
The property is located at 1 Woodgreen Place Madison, MS.
What is the asking price?
The asking price for this property is $2,759,900.
What are key features of this property?
This property features: 10,644 SF of net rentable office area across two stories; 1986‑built brick office building on a corner lot; 42‑space surface parking lot
