Office Warehouse with
For Sale
$375,000
625 Highway 49, Richland, MS 39218
Small office warehouse with grade-level roll-up doors, reception, restroom, kitchenette, and a heated and cooled mezzanine.
Property Size2,500 SF
Price / SF$150
Days on Market134
Property Features for 625 Highway 49
General Information
Standard status
Active
Size
2,500 SF
Building Details
Year Built
2010
Listing Agency:
Overby, Inc.
Listed By:
Sterling McCool · License #B22633
(601) 366-8511
Source:
Fiorellaavenue
Added: Apr 24
Changed: Sep 4
Last Checked: Aug 29 at 3:05AM
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 Overby, Inc.
Investment Insights
Based on property information with market context.
This small office warehouse includes a reception area, office space, kitchenette, and restroom. The property also features a large heated and cooled mezzanine that can function as a conference room or storage area.
The warehouse is served by three grade-level roll-up doors: two openings measuring 12 by 16 and one opening measuring 12 by 18. Custom-built high ceilings support stackable storage and/or equipment.
The site is described as having Highway 49 frontage with visibility to traffic on Highway 49, and the property is noted as providing immediate access to the central Mississippi market. The public remarks also indicate the property was recently net leased to a national credit tenant.
The warehouse is served by three grade-level roll-up doors: two openings measuring 12 by 16 and one opening measuring 12 by 18. Custom-built high ceilings support stackable storage and/or equipment.
The site is described as having Highway 49 frontage with visibility to traffic on Highway 49, and the property is noted as providing immediate access to the central Mississippi market. The public remarks also indicate the property was recently net leased to a national credit tenant.
Key Highlights
- 2010‑built small office warehouse with Highway 49 frontage in the Jackson MSA industrial corridor
- Net leased to a national credit tenant (recently net leased)
- Warehouse includes three grade‑level roll‑up doors: two 12x16 and one 12x18
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
$27,000
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
7.20%
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%
$540,000
$540.0K
Cap Rate 7%
$385,714
$385.7K
Cap Rate 9%
$300,000
$300.0K
Market Conditions
NOI Build-Up for 2,500 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
$45.0K $18.00/SF
− Vacancy
−$9.0K −$3.60/SF
EGI
$36.0K $14.40/SF
− OpEx
−$9.0K −$3.60/SF
NOI
$27.0K $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%
$540,000
Cap Rate 7%
$385,714
Cap Rate 9%
$300,000
Alternative Uses
Best Use
Office B
$385.7K
$337.5K – $450.0K
NOI $27,000 @ 7.0% cap · market cap 7.20%
Second Best
Warehouse
$268.2K
$234.7K – $312.9K
NOI $18,775 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$685.7K
$600.0K – $800.0K
NOI $48,000 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39218, MS
7,231
Population
2,950
Households
2.5
Avg Household Size
36
Median Age
26%
College-Educated
89%
High-School Grad
17.7 sq mi
ZIP Area
409
Density / Sq Mi
$63,103
Median Household Income
$37,279
Median Earnings
$1,146
Median Rent
$135,100
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?
Flex space - Small office warehouse with grade-level roll-up doors, reception, restroom, kitchenette, and a heated and cooled mezzanine.
Where is this flex space located?
The property is located at 625 Highway 49 Richland, MS.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2010‑built small office warehouse with Highway 49 frontage in the Jackson MSA industrial corridor; Net leased to a national credit tenant (recently net leased); Warehouse includes three grade‑level roll‑up doors: two 12x16 and one 12x18
