Class A Ambulatory Surgical
For Sale
$9,750,000
160 Fountains Boulevard, Madison, MS 39110
2017-built ambulatory surgical center with independent medical office and MediSpa components connected by a climate-controlled conservatory.
Property Size73,898 SF
Price / SF$131.94
Days on Market71
Property Features for 160 Fountains Boulevard
General Information
Standard status
Active
Size
73,898 SF
Class
A
Property subtype
Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Building Details
Year Built
2017
Listing Agency:
Overby, Inc.
Listed By:
Scott Overby · License #3276
(601) 624-8511
Source:
Cdgroupusa
Added: Jul 20
Changed: Sep 9
Last Checked: Sep 24 at 7:05AM
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.
160 Fountains Boulevard is a 15,967± SF Class A ambulatory surgical center constructed in 2017 within The Fountains of Madison mixed-use development in Madison, Mississippi. The facility is arranged as three independently operable components connected by a climate-controlled glass conservatory: a 7,364± SF licensed ambulatory surgical center, a 6,168± SF fully built-out medical office, and a 1,451± SF MediSpa suite. Each component has its own entrance, reception area, and patient flow.
The ambulatory surgical center includes two operating rooms, three PACU recovery bays, two pre-operative bays, one procedure room, scrub sink room, and central nursing and supply stations, along with full medical gas infrastructure and a covered patient porte-cochere. An on-site emergency generator supports operations. The medical office provides six exam rooms, seven private offices, a conference room, physician and nurse workstations, and administrative support space. The MediSpa suite has four treatment rooms and a dedicated entrance, with an additional 984± SF heated and cooled glass conservatory for reception, gathering, or flexible use.
The property holds an active Mississippi Certificate of Need (CON), Mississippi Ambulatory Surgical Facility license, CMS Medicare ASC certification, and QUAD A accreditation. Transfer of licenses, certifications, accreditations, and regulatory approvals is subject to applicable governmental requirements and Change of Ownership procedures. Located at the entrance to The Fountains of Madison along the Highway 463 corridor just east of Interstate 55, the facility is positioned to serve Madison County, the Jackson metropolitan area, and major regional healthcare providers. Medical, surgical, and operational equipment and fixtures necessary for facility operation are included in the sale.
The ambulatory surgical center includes two operating rooms, three PACU recovery bays, two pre-operative bays, one procedure room, scrub sink room, and central nursing and supply stations, along with full medical gas infrastructure and a covered patient porte-cochere. An on-site emergency generator supports operations. The medical office provides six exam rooms, seven private offices, a conference room, physician and nurse workstations, and administrative support space. The MediSpa suite has four treatment rooms and a dedicated entrance, with an additional 984± SF heated and cooled glass conservatory for reception, gathering, or flexible use.
The property holds an active Mississippi Certificate of Need (CON), Mississippi Ambulatory Surgical Facility license, CMS Medicare ASC certification, and QUAD A accreditation. Transfer of licenses, certifications, accreditations, and regulatory approvals is subject to applicable governmental requirements and Change of Ownership procedures. Located at the entrance to The Fountains of Madison along the Highway 463 corridor just east of Interstate 55, the facility is positioned to serve Madison County, the Jackson metropolitan area, and major regional healthcare providers. Medical, surgical, and operational equipment and fixtures necessary for facility operation are included in the sale.
Key Highlights
- 2017‑built 15,967± SF Class A ambulatory surgical center in The Fountains of Madison, MS.
- Three independently operable components: 7,364± SF surgical center, 6,168± SF medical office, and 1,451± SF MediSpa suite.
- Surgical center includes 2 operating rooms, 3 PACU recovery bays, 2 pre‑op bays, and 1 procedure room plus full medical gas infrastructure.
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
$880,968
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
9.04%
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%
$17,619,360
$17.6M
Cap Rate 7%
$12,585,257
$12.6M
Cap Rate 9%
$9,788,533
$9.8M
Market Conditions
NOI Build-Up for 73,898 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
$1.64M $22.20/SF
− Vacancy
−$172.3K −$2.33/SF
EGI
$1.47M $19.87/SF
− OpEx
−$587.3K −$7.95/SF
NOI
$881.0K $11.92/SF
Area
Madison County, MS
Vacancy
10.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
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%
$17,619,360
Cap Rate 7%
$12,585,257
Cap Rate 9%
$9,788,533
Alternative Uses
Best Use
Healthcare Medical
$12.59M
$11.01M – $14.68M
NOI $880,968 @ 7.0% cap · market cap 9.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.09M
$14.08M – $18.77M
NOI $1,126,064 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 39110, MS
48,474
Population
18,305
Households
2.6
Avg Household Size
41
Median Age
64%
College-Educated
97%
High-School Grad
74.3 sq mi
ZIP Area
652
Density / Sq Mi
$122,955
Median Household Income
$62,071
Median Earnings
$1,979
Median Rent
$342,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Medical center - 2017-built ambulatory surgical center with independent medical office and MediSpa components connected by a climate-controlled conservatory.
Where is this medical center located?
The property is located at 160 Fountains Boulevard Madison, MS.
What is the asking price?
The asking price for this property is $9,750,000.
What are key features of this property?
This property features: 2017‑built 15,967± SF Class A ambulatory surgical center in The Fountains of Madison, MS.; Three independently operable components: 7,364± SF surgical center, 6,168± SF medical office, and 1,451± SF MediSpa suite.; Surgical center includes 2 operating rooms, 3 PACU recovery bays, 2 pre‑op bays, and 1 procedure room plus full medical gas infrastructure.
