Leased Medical Office
For Sale
$155,000
401 Cross Park Drive lot C, Pearl, MS 39208
Commercial Sale, Pearl, MS
Property Size1,074 SF
Lot Size0.02 Acres
Price / SF$144.32
Days on Market49
Property Features for 401 Cross Park Drive lot C
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
Metes And Bounds
Lot features
City Lot, City Lot
Standard status
Active
APN
G09d-000009-00000c
Size
1,074 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT C CROSSPARK PLAZA CONDOMINUMS DB 721 PG 468 011395
Tax Annual Amount
1182
Legal Description
LOT C CROSSPARK PLAZA CONDOMINUMS DB 721 PG 468 011395
Building Details
Floors in Building
1
Listing Agency:
The Agency Haus LLC DBA Agency
(601) 665-4869
Listed By:
Bjorn P Gipson · License #S57956
(769) 274-2184
Added: Jul 21
Changed: Aug 26
Last Checked: Sep 7 at 12:06PM
MLS# 4156940
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 1,074-square-foot medical office property is configured for commercial occupancy and is currently fully leased to an established tenant. The asset occupies a 0.02-acre lot at 401 Cross Park Drive lot: C in Pearl, Mississippi, within Rankin County. Existing occupancy provides a straightforward ownership profile for a purchaser seeking a leased medical office asset.
Key Highlights
- Fully leased medical office property
- 1,074 square feet of property area
- Established tenant already in place
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
$12,111
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
7.81%
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%
$242,220
$242.2K
Cap Rate 7%
$173,014
$173.0K
Cap Rate 9%
$134,567
$134.6K
Market Conditions
NOI Build-Up for 1,074 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
$22.6K $21.00/SF
− Vacancy
−$2.4K −$2.21/SF
EGI
$20.2K $18.80/SF
− OpEx
−$8.1K −$7.52/SF
NOI
$12.1K $11.28/SF
Area
Rankin County, MS
Vacancy
10.50%
Lease Rate
$21.00 /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%
$242,220
Cap Rate 7%
$173,014
Cap Rate 9%
$134,567
Alternative Uses
Best Use
Healthcare Medical
$173.0K
$151.4K – $201.9K
NOI $12,111 @ 7.0% cap · market cap 7.81%
Second Best
Office B
$165.7K
$145.0K – $193.3K
NOI $11,599 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$294.6K
$257.8K – $343.7K
NOI $20,621 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39208, MS
34,228
Population
13,931
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
87%
High-School Grad
47.8 sq mi
ZIP Area
716
Density / Sq Mi
$58,878
Median Household Income
$40,785
Median Earnings
$1,157
Median Rent
$173,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased medical office property with an established tenant in place.
Where is this medical office space located?
The property is located at 401 Cross Park Drive lot C Pearl, MS.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Fully leased medical office property; 1,074 square feet of property area; Established tenant already in place
