Three-Zone Medical
For Sale
$9,750,000
160 Fountains Boulevard, Madison, MS 39110
Commercial Sale, Madison, MS
Property Size15,967 SF
Lot Size1.71 Acres
Price / SF$131.94
Days on Market48
Property Features for 160 Fountains Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
45
Lot features
Level, Level
Directions
I-55 to exit 108/Main Street-Hwy 463, head west for 0.3 miles and turn L. onto Fountains Blvd and building will be on your L.
Standard status
Active
APN
071a-12a-011-05-03
Size
73,898 SF
Lot size
1.71 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 11 THE FOUNTAINS OF MADISON PT 2A
Tax Annual Amount
51103
Legal Description
LOT 11 THE FOUNTAINS OF MADISON PT 2A
Amenities
operating rooms
PACU recovery bays
pre-operative bays
procedure room
medical gas infrastructure
covered patient porte-cochere
on-site emergency generator
exam rooms
physician and nurse workstation
private offices
administrative wing
treatment rooms
Building Details
Year built
2017
Floors in Building
1
Listing Agency:
Overby, Inc.
(601) 366-8511
Listed By:
Scott Overby · License #B-16214
(601) 624-8511
Added: Jul 19
Changed: Aug 26
Last Checked: Sep 4 at 8:06AM
MLS# 4156418
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2017 medical center is arranged as three separately accessible operating areas: an ambulatory surgical center, a complete medical office, and a self-contained MediSpa. The surgical component includes two operating rooms, three PACU recovery bays, two pre-operative bays, a procedure room, medical gas infrastructure, a covered patient drop-off area, and an emergency generator. The office component provides six exam rooms, seven private offices, physician and nurse workstations, and administrative space. The MediSpa adds four treatment rooms and its own entrance.
The facility is licensed as a Mississippi Ambulatory Surgical Facility, certified as a CMS Medicare ASC, and QUAD A accredited. These credentials may transfer to a qualified acquirer through the standard Change of Ownership process. Located at 160 Fountains Boulevard within The Fountains of Madison, the property is subject to existing leases with medical users and provides income in place at closing. Lease and tenancy details are available through the data room after execution of a Confidentiality Agreement.
The facility is licensed as a Mississippi Ambulatory Surgical Facility, certified as a CMS Medicare ASC, and QUAD A accredited. These credentials may transfer to a qualified acquirer through the standard Change of Ownership process. Located at 160 Fountains Boulevard within The Fountains of Madison, the property is subject to existing leases with medical users and provides income in place at closing. Lease and tenancy details are available through the data room after execution of a Confidentiality Agreement.
Key Highlights
- Three independently accessible zones: ambulatory surgery, medical office, and MediSpa
- ASC includes 2 operating rooms, 3 PACU recovery bays, 2 pre‑operative bays, and 1 procedure room
- Medical office buildout includes 6 exam rooms, 7 private offices, and administrative space
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
Office B
$11.23M
$9.82M – $13.10M
NOI $785,961 @ 7.0% cap · market cap 8.06%
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
744
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Purpose-built facility combines surgical, clinical, and wellness suites under one roof.
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: Three independently accessible zones: ambulatory surgery, medical office, and MediSpa; ASC includes 2 operating rooms, 3 PACU recovery bays, 2 pre‑operative bays, and 1 procedure room; Medical office buildout includes 6 exam rooms, 7 private offices, and administrative space
