Renovated Flex Facility For
For Sale
Contact for pricing
206 Park Ct, Ridgeland, MS 39157
Turnkey flex facility with extensive renovations and upgrades.
Property Size10,521 SF
Price / SF$104.55
Days on Market148
Property Features for 206 Park Ct
General Information
Standard status
Active
Size
10,521 SF
Class
A
Property subtype
Industrial
Zoning
I-1
Investment Type
Owner/User
Building Details
Year Built
2005
Year Renovated
2023
Tenancy
Single
Listing Agency:
Overby Commercial
(601) 624-8511
Listed By:
Scott Overby, CCIM · License #MS B16124
Source:
Crexi
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 12 at 10:16AM
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 Commercial
Investment Insights
Based on property information with market context.
This extensively renovated flex facility, located in Ridgeland, Mississippi, is available for sale. The property has undergone over $250,000 in upgrades, making it a turnkey opportunity. The building offers a total area of 10,521 square feet and is suitable for flex space, industrial, and general commercial real estate purposes.
Key Highlights
- Extensively renovated flex facility
- Turnkey condition
- Over $250,000 in upgrades
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
$84,493
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
7.68%
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%
$1,689,860
$1.7M
Cap Rate 7%
$1,207,043
$1.2M
Cap Rate 9%
$938,811
$938.8K
Market Conditions
NOI Build-Up for 10,521 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
$147.7K $14.04/SF
− Vacancy
−$17.7K −$1.68/SF
EGI
$130.0K $12.36/SF
− OpEx
−$45.5K −$4.32/SF
NOI
$84.5K $8.03/SF
Area
Madison County, MS
Vacancy
12.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
35.00%
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%
$1,689,860
Cap Rate 7%
$1,207,043
Cap Rate 9%
$938,811
Alternative Uses
Best Use
Flex RnD
$1.21M
$1.06M – $1.41M
NOI $84,493 @ 7.0% cap · market cap 7.68%
Second Best
Industrial
$775.7K
$678.7K – $905.0K
NOI $54,298 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,320 @ 7.0% cap · market cap 14.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Well-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
- Southern Comforts Ventures LLC — 1000 Highland Colony Pkwy building 5000 suite 5203, Ridgeland, MS 39157
- RWB Hospitality LLC — 214 Draperton Dr, Ridgeland, MS 39157
- Olivia's Food Emporium — 637 US-51 Suite K, Ridgeland, MS 39157
Frequently Asked Questions
What type of property is this?
Flex space - Turnkey flex facility with extensive renovations and upgrades.
Where is this flex space located?
The property is located at 206 Park Ct Ridgeland, MS.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Extensively renovated flex facility; Turnkey condition; Over $250,000 in upgrades
