Flexible Multi-Suite Flex
For Sale
$1,850,000
144 W Ford St, Ridgeland, MS 39157
Commercial property includes leased space, a salon build-out, and two suites with plumbing, HVAC, and electrical systems installed.
Property Size9,750 SF
Price / SF$189.74
Days on Market43
Property Features for 144 W Ford St
General Information
Standard status
Active
Size
9,750 SF
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Building Details
Year Built
2007
Buildings
1
Building Size
9,750 SF
Tenancy
Multi
Listing Agency:
Southern Homes Real Estate
(769) 798-8855
Listed By:
Maggi Craft
Source:
Fiorellaavenue
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 30 at 7:56PM
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 Southern Homes Real Estate
Investment Insights
Based on property information with market context.
Built in 2007, this 9,750-square-foot flex property is arranged for multiple commercial occupants. A 6,000-square-foot section is leased under a five-year term, while a separate 1,250-square-foot area operates as a salon. Two additional 1,250-square-foot suites are available for individual finish-out or customization. Plumbing, HVAC, and electrical systems are already installed in these spaces, supporting a range of potential layouts without changing the building’s multi-suite configuration.
The property is located at 144 W Ford St in Ridgeland, Mississippi, just off Highway 51. Its position near the highway provides direct access to the corridor and places the building within an established commercial setting. The combination of existing occupancy, an operating salon area, and unfinished suites offers a flexible physical platform for continued multi-tenant use.
The property is located at 144 W Ford St in Ridgeland, Mississippi, just off Highway 51. Its position near the highway provides direct access to the corridor and places the building within an established commercial setting. The combination of existing occupancy, an operating salon area, and unfinished suites offers a flexible physical platform for continued multi-tenant use.
Key Highlights
- 9,750‑square‑foot flex building constructed in 2007
- 6,000 square feet leased under a 5‑year term
- Operating 1,250‑square‑foot salon area
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
$94,902
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
5.13%
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%
$1,898,040
$1.9M
Cap Rate 7%
$1,355,743
$1.4M
Cap Rate 9%
$1,054,467
$1.1M
Market Conditions
NOI Build-Up for 9,750 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
$146.3K $15.00/SF
− Vacancy
−$10.7K −$1.10/SF
EGI
$135.6K $13.91/SF
− OpEx
−$40.7K −$4.17/SF
NOI
$94.9K $9.73/SF
Area
Madison County, MS
Vacancy
7.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,898,040
Cap Rate 7%
$1,355,743
Cap Rate 9%
$1,054,467
Alternative Uses
Best Use
Retail
$1.36M
$1.19M – $1.58M
NOI $94,902 @ 7.0% cap · market cap 5.13%
Second Best
Flex RnD
$1.12M
$978.8K – $1.31M
NOI $78,301 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,571 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39157, MS
24,611
Population
11,690
Households
2.1
Avg Household Size
39
Median Age
50%
College-Educated
94%
High-School Grad
30.0 sq mi
ZIP Area
820
Density / Sq Mi
$63,552
Median Household Income
$42,516
Median Earnings
$1,205
Median Rent
$259,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- LandShark Seafood & Catfish — 235 U.S. Hwy 51, Ridgeland, MS 39157
Frequently Asked Questions
What type of property is this?
Flex space - Commercial property includes leased space, a salon build-out, and two suites with plumbing, HVAC, and electrical systems installed.
Where is this flex space located?
The property is located at 144 W Ford St Ridgeland, MS.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 9,750‑square‑foot flex building constructed in 2007; 6,000 square feet leased under a 5‑year term; Operating 1,250‑square‑foot salon area
