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    Event Venue Overlooking Reservoir Title is generated by Realmo AI

    140 Madison Landing Cir, Ridgeland, MS 39157

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    Turn-key event venue with exceptional reservoir views.

    Type:Retail
    Property size:
    11,966 SF
    Price / SF:
    $68/SF
    Added:
    Jan 29, 2021
    Days on Market:
    1949
    Last Refresh:
    May 19 at 10:07 pm

    Property Features for 140 Madison Landing Cir

    General Information

    Standard status
    Active
    Size
    11,966 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1986

    We can help!

    Listing Contact
    Nancy Lane

    Listing agent Nancy Lane License #MS 12712

    Listing office Lane-Harkins Commercial Real Estate

    Listing date Jan 29, 2021

    Source Crexi

    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 Lane-Harkins Commercial Real Estate

    HighLights

    • Turn‑key operation: Includes all equipment and serving pieces for catering and events, serving close to 1,000.
    • Prime location overlooking the Ross Barnett Reservoir, offering exceptional views and ambiance.
    • Established event venue with a history of success since 1999.
    • Suitable for various events: weddings, receptions, parties, corporate events, or a full‑service restaurant.
    • New roof installed in March 2022.
    • Located among other successful businesses (Cock of the Walk, Crabs Seafood Shack, and Pelican Point).

    Overview

    Reservoir Pointe, an event venue overlooking the Ross Barnett Reservoir, offers a setting suitable for various events. The location has been operated by the George family since 1999, leveraging their 60 years of experience in catering and events. The property is suitable for weddings, receptions, proms, birthday and graduation parties, and corporate events. It could also serve as a full-service restaurant. The property is located near other businesses, including Cock of the Walk, Crabs Seafood Shack, and Pelican Point restaurants. The purchase price includes all equipment and serving pieces needed for a turn-key operation, including catering dishes and glasses for serving close to 1,000 for off-site catering. The building has a new roof installed in March 2022. The building is on Pearl River Valley Water Supply District land with a long-term lease, as is the case with all of the businesses and subdivisions that border the Ross Barnett Reservoir. The property size is 11,966 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Catering by George's Take-out & Catering Reservoir Pointe Wedding Service hotel Hotel & Motel

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Ridgeland
    County
    Madison
    State
    Mississippi
    Longitude
    -90.131673
    Latitude
    32.429453

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    FAQs

    What type of property is this?
    Wedding venue - Turn-key event venue with exceptional reservoir views.
    Where is this wedding venue located?
    The property is located at 140 Madison Landing Cir Ridgeland, MS.
    What is the asking price?
    The asking price for this property is $825,000.
    What are key features of this property?
    This property features: Turn‑key operation: Includes all equipment and serving pieces for catering and events, serving close to 1,000.; Prime location overlooking the Ross Barnett Reservoir, offering exceptional views and ambiance.; Established event venue with a history of success since 1999.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Nancy Lane
    Real Estate License ID: MS 12712
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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