Two-Level Office
For Sale
$575,000
403 Towne Center Boulevard, Ridgeland, MS 39157
Flexible workplace configuration with private offices, a break area, and restrooms serving both floors.
Property Size4,784 SF
Days on Market119
Property Features for 403 Towne Center Boulevard
General Information
Standard status
Active
Size
4,784 SF
Property subtype
Commercial
Building Details
Building Size
4,784 SF
Year Built
1998
Listing Agency:
Polles Properties, LLC
(601) 898-3364
Listed By:
Amanda Polles · License #B20367
(601) 898-3364
Source:
Jdanielrealtysells
Added: Apr 27
Changed: Aug 21
Last Checked: Aug 23 at 1:13PM
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 Polles Properties, LLC
Investment Insights
Based on property information with market context.
Built in 1998, this two-story office property provides a practical layout for business operations across both levels. The interior includes a reception area, four private offices, a break room, and bathrooms on each floor, creating a defined arrangement for reception, work areas, staff use, and visitor access.
The property is located at 403 Towne Center Boulevard in Ridgeland, Mississippi, with access to major roads and nearby retail, dining, and professional services. Its visible setting and proximity to surrounding services provide a convenient environment for clients and staff.
The property is located at 403 Towne Center Boulevard in Ridgeland, Mississippi, with access to major roads and nearby retail, dining, and professional services. Its visible setting and proximity to surrounding services provide a convenient environment for clients and staff.
Key Highlights
- Two‑level office building with functional space on both floors
- Reception area, four private offices, break room, and bathrooms on each level
- Built in 1998
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
$50,881
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
8.85%
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%
$1,017,620
$1.0M
Cap Rate 7%
$726,871
$726.9K
Cap Rate 9%
$565,344
$565.3K
Market Conditions
NOI Build-Up for 4,784 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
$83.2K $17.40/SF
− Vacancy
−$15.4K −$3.22/SF
EGI
$67.8K $14.18/SF
− OpEx
−$17.0K −$3.55/SF
NOI
$50.9K $10.64/SF
Area
Madison County, MS
Vacancy
18.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,017,620
Cap Rate 7%
$726,871
Cap Rate 9%
$565,344
Alternative Uses
Best Use
Office B
$726.9K
$636.0K – $848.0K
NOI $50,881 @ 7.0% cap · market cap 8.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$911.2K – $1.21M
NOI $72,899 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,216
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible workplace configuration with private offices, a break area, and restrooms serving both floors.
Where is this office building located?
The property is located at 403 Towne Center Boulevard Ridgeland, MS.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑level office building with functional space on both floors; Reception area, four private offices, break room, and bathrooms on each level; Built in 1998
