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690 Towne Center Blvd Ridgeland, MS 39157

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For Sale
$1,195,000

7,300 SF office building with long-term lease in place.

Property size:
7,300 SF
Lot size:
628.06 Acres

Property Features for 690 Towne Center Blvd

General Information

Size
7,300 SF
Lot size
628.06 Acres

Source: J. Walter Michel Agency, Inc. Agent Hugh Johnson

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Ridgeland Office Building For Sale

This property features a 7,000-square-foot space on the first floor, complemented by an additional 300 square feet of unfinished space on the second floor. The building underwent significant upgrades in October and November 2024, with over $100,000 invested to enhance its condition. A fire sprinkler system is in place, contributing to lower insurance costs. The roof is less than 4 years old as of 2025. A 64-month modified gross lease has been executed with a law firm established for over 25 years. The lease commences on September 1, 2025, and includes a rent increase after the 28th month. As part of the lease agreement, the tenant is responsible for utilities, janitorial services, and communication expenses. The average cap rate for the lease term is approximately 9.6%, with the cap rate increasing to approximately 10% for the final 3 years of the lease.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

LEFOLDT & Co. Corporate Office Matthews, Cutrer and Lindsay ... Accounting Firm

Suggested Use

Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Ridgeland
County
Madison
State
Mississippi
Longitude
-90.121718
Latitude
32.407888

FAQs

What type of property is this?
Office building - 7,300 SF office building with long-term lease in place.
Where is this office building located?
The property is located at 690 Towne Center Blvd Ridgeland, MS.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: - High average cap rate of +/- 9.6% for the lease term, increasing to +/- 10% for the final 3 years.; - 64-month modified gross lease executed with a 25+ year established law firm, starting September 1, 2025, with rent increase after 28 months.; - Substantial recent upgrades: Over $100,000 spent in October and November 2024.
More about this property
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