Office Building with Two-Level
For Sale
$575,000
403 Towne Center Boulevard lot Bldg. C, Ridgeland, MS 39157
COMMERCIAL - Ridgeland, MS
Property Size4,784 SF
Lot Size0.49 Acres
Price / SF$120.19
Days on Market103
Property Features for 403 Towne Center Boulevard lot Bldg. C
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
1
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Subdivision
Highland Colony
Directions
From North Park Dr, turn on to Towne Center Blvd, Property will be on your left
Standard status
Active
APN
072i-32b-001/01.08
Size
4,784 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 112.4' X 209.79' IN LOT 5 BLK 3 8 H C
Tax Annual Amount
13500
Legal Description
LOT 112.4' X 209.79' IN LOT 5 BLK 3 8 H C
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1998
Flooring type
Carpet, Wood
Roof type
Shingle
Listing Agency:
Polles Properties, LLC
(601) 898-3364
Listed By:
Amanda Polles · License #B20367
(601) 898-3364
Added: Apr 27
Changed: Aug 4
Last Checked: Aug 7 at 8:06AM
MLS# 4147419
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 office building offers a practical two-level layout designed for professional use. The interior includes a reception area, four private offices, a break room, and bathrooms on both levels. The building is configured to support a straightforward tenant workflow, whether you need offices concentrated on one floor or a split arrangement across upstairs and downstairs spaces.
The property is located at 403 Towne Center Boulevard in Ridgeland, Mississippi, within Madison County. It provides convenient access to major roads and is surrounded by retail, dining, and other professional services, which can support client and staff access.
The space may suit owner-users looking for an established office setting with multiple private offices and shared support amenities. It can also be a fit for businesses that value flexibility between upstairs and downstairs options while keeping a reception-focused entry experience. With its professional layout and dual-floor bathroom availability, the building supports day-to-day operations for teams that need dedicated rooms in addition to shared common space.
The property is located at 403 Towne Center Boulevard in Ridgeland, Mississippi, within Madison County. It provides convenient access to major roads and is surrounded by retail, dining, and other professional services, which can support client and staff access.
The space may suit owner-users looking for an established office setting with multiple private offices and shared support amenities. It can also be a fit for businesses that value flexibility between upstairs and downstairs options while keeping a reception-focused entry experience. With its professional layout and dual-floor bathroom availability, the building supports day-to-day operations for teams that need dedicated rooms in addition to shared common space.
Key Highlights
- Office building with upstairs and downstairs options at 403 Town Center Blvd in Ridgeland
- Reception area plus four private offices, break room, and bathrooms on both levels
- Public water and public sewer available; utilities connected for the office 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
$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
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
505
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 - Two-level office building with reception, private offices, break room, and bathrooms on both floors.
Where is this office building located?
The property is located at 403 Towne Center Boulevard lot Bldg. C 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: Office building with upstairs and downstairs options at 403 Town Center Blvd in Ridgeland; Reception area plus four private offices, break room, and bathrooms on both levels; Public water and public sewer available; utilities connected for the office space
