Flowood Freestanding Office
For Sale
Contact for pricing
1307 Airport Rd, Flowood, MS 39232
Freestanding office building in Flowood, MS with leasing potential.
Property Size5,000 SF
Price / SF$125
Days on Market1463
Property Features for 1307 Airport Rd
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Office
Zoning
C-3 - General Commercial District
Lease Type
Modified Gross
Building Details
Year Built
1999
Buildings
1
Stories
1
Listing Agency:
The Mattiace Company
(601) 291-0942
Listed By:
Philip Holman, CCIM · License #MS
Source:
Crexi
Added: Aug 21, 2022
Changed: Aug 17
Last Checked: Aug 21 at 6:30AM
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 The Mattiace Company
Investment Insights
Based on property information with market context.
The property at 1307 Airport Road is a freestanding office building situated in a suburban office park in Flowood, Mississippi, east of the Blue Cross of Mississippi corporate headquarters. It offers convenient access to Highway 25 (Lakeland Drive), Airport Road, and Flowood Drive. The building contains three suites. Suite A, available for occupancy, measures 1,445 rentable square feet. Suite B, also vacant, measures 900 rentable square feet. Suite C is currently leased and measures 2,445 rentable square feet. The building is suitable for a business owner who can occupy one or both vacant suites while generating rental income from the leased Suite C. The suites are built out as traditional office spaces, featuring multiple private offices, conference rooms, and work rooms. The building includes a common area lobby, a break room, and men’s and women’s restrooms. Ample surface parking is available in front of the building. The total property size is 5,000 square feet.
Key Highlights
- Freestanding office building in a suburban office park.
- Potential for owner‑occupancy of two vacant suites (1,445 sq. ft. and 900 sq. ft.)**
- Existing lease on one suite (2,445 sq. ft.) provides immediate rental income.
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
$54,000
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
8.64%
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%
$1,080,000
$1.1M
Cap Rate 7%
$771,429
$771.4K
Cap Rate 9%
$600,000
$600.0K
Market Conditions
NOI Build-Up for 5,000 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
$90.0K $18.00/SF
− Vacancy
−$18.0K −$3.60/SF
EGI
$72.0K $14.40/SF
− OpEx
−$18.0K −$3.60/SF
NOI
$54.0K $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%
$1,080,000
Cap Rate 7%
$771,429
Cap Rate 9%
$600,000
Alternative Uses
Best Use
Office B
$771.4K
$675.0K – $900.0K
NOI $54,000 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,000 @ 7.0% cap · market cap 15.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
925
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding office building in Flowood, MS with leasing potential.
Where is this office building located?
The property is located at 1307 Airport Rd Flowood, MS.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Freestanding office building in a suburban office park.; Potential for owner‑occupancy of two vacant suites (1,445 sq. ft. and 900 sq. ft.)**; Existing lease on one suite (2,445 sq. ft.) provides immediate rental income.
