Renovated Office
New
For Sale
$545,000
1013 N Flowood Drive, Flowood, MS 39232
Commercial Sale, Flowood, MS
Property Size2,835 SF
Lot Size0.56 Acres
Price / SF$192.24
Days on Market3
Property Features for 1013 N Flowood Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C2
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2
Window features
Window Treatments
Subdivision
Metes And Bounds
Lot features
Corner Lot, Level, Rectangular Lot, Corner Lot, Level, Rectangular Lot
Standard status
Active
APN
F10i-000005-00390
Size
2,835 SF
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 39 AIRPORT COMMERCIAL PARK (N 71.2') LESS 28.8' S S IDE DB 268 PG 27 0021971 DB 267 PG 293 0020171
Tax Annual Amount
4342
Legal Description
LOT 39 AIRPORT COMMERCIAL PARK (N 71.2') LESS 28.8' S S IDE DB 268 PG 27 0021971 DB 267 PG 293 0020171
Building Details
Year built
1967
Floors in Building
1
Listing Agency:
Polles Properties, LLC
(601) 898-3364
Listed By:
John Polles · License #S49693
(601) 941-7168
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 24 at 1:06AM
MLS# 4163361
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.
Renovated office building offering approximately 2,835 square feet of professional workspace on a 0.56-acre property. The layout includes six private offices, a conference room, reception area, copy and mail room, and a central hub suitable for multiple workstations or collaborative use. A full kitchen includes a refrigerator, stove, and dishwasher, while the building provides one full bathroom with a shower and an additional half bath. Nine-foot ceilings and custom window treatments are installed throughout.
Storage is distributed across the rear storage area, under-stair space, a conference-room closet, attic space, and an attached rear shed. A rear ramp and extra-wide entry door support convenient access. Built in 1967, the property is located at 1013 N Flowood Drive in Flowood, near restaurants, shopping, retail, professional services, and the airport.
Storage is distributed across the rear storage area, under-stair space, a conference-room closet, attic space, and an attached rear shed. A rear ramp and extra-wide entry door support convenient access. Built in 1967, the property is located at 1013 N Flowood Drive in Flowood, near restaurants, shopping, retail, professional services, and the airport.
Key Highlights
- Approximately 2,835 square feet on 0.56 acres
- Six private offices plus a conference room and reception area
- Full kitchen with 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 - Flexible professional property with private offices, meeting space, kitchen facilities, and substantial storage.
Where is this office building located?
The property is located at 1013 N Flowood Drive 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: Approximately 2,835 square feet on 0.56 acres; Six private offices plus a conference room and reception area; Full kitchen with refrigerator, stove, and dishwasher
