Renovated Office
New
For Sale
Contact for pricing
1013 N Flowood Dr, Flowood, MS 39232
A multi-office floor plan pairs private work areas with meeting space and a central workstation area.
Property Size2,835 SF
Price / SF$192.24
Days on Market7
Property Features for 1013 N Flowood Dr
General Information
Standard status
Active
Size
2,835 SF
Property subtype
OFFICE
Amenities
private offices
conference room
reception area
copy and mail room
central hub
full kitchen
bathroom with shower
half bath
9-foot ceilings
custom window treatments
storage area
Building Details
Buildings
1
Building Size
2,835 SF
Listing Agency:
PollesProperties, LLC
Listed By:
John Polles · License #S49693
(601) 941-7168
Source:
Moodyscre
Added: Sep 21
Changed: Sep 26
Last Checked: Sep 26 at 3:35PM
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 PollesProperties, LLC
Investment Insights
Based on property information with market context.
This 2,835-square-foot office building in Flowood has been renovated and arranged with six private offices, a conference room, reception, and a central area suited to multiple workstations. A separate copy and mail room and a kitchen with a refrigerator, stove, and dishwasher support daily operations. The building has one full bathroom with a shower, a half bath, 9-foot ceilings, and window treatments. Storage includes rear space, an under-stair area, a conference-room closet, attic space, and an attached shed. A rear ramp and extra-wide entry provide an additional access point.
The property is near restaurants, shopping, retail, professional services, and the airport. Its address is 1013 N Flowood Dr in Flowood, Mississippi.
The property is near restaurants, shopping, retail, professional services, and the airport. Its address is 1013 N Flowood Dr in Flowood, Mississippi.
Key Highlights
- 2,835‑square‑foot office building, renovated by the current owners
- Six private offices, conference room, reception area, and central workstation area
- Kitchen includes a refrigerator, stove, and dishwasher
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
$30,618
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
5.62%
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%
$612,360
$612.4K
Cap Rate 7%
$437,400
$437.4K
Cap Rate 9%
$340,200
$340.2K
Market Conditions
NOI Build-Up for 2,835 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
$51.0K $18.00/SF
− Vacancy
−$10.2K −$3.60/SF
EGI
$40.8K $14.40/SF
− OpEx
−$10.2K −$3.60/SF
NOI
$30.6K $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%
$612,360
Cap Rate 7%
$437,400
Cap Rate 9%
$340,200
Alternative Uses
Best Use
Office B
$437.4K
$382.7K – $510.3K
NOI $30,618 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$777.6K
$680.4K – $907.2K
NOI $54,432 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,507
Businesses Nearby
Explore this area
Business Placement
Demographics for 39232, MS
9,052
Population
4,204
Households
2.2
Avg Household Size
37
Median Age
51%
College-Educated
97%
High-School Grad
25.6 sq mi
ZIP Area
354
Density / Sq Mi
$83,389
Median Household Income
$49,760
Median Earnings
$1,412
Median Rent
$293,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - A multi-office floor plan pairs private work areas with meeting space and a central workstation area.
Where is this office building located?
The property is located at 1013 N Flowood Dr Flowood, MS.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 2,835‑square‑foot office building, renovated by the current owners; Six private offices, conference room, reception area, and central workstation area; Kitchen includes a refrigerator, stove, and dishwasher
