Two-Level Office
For Sale
$575,000
403 Towne Center Boulevard lot Bldg. C, Ridgeland, MS 39157
Commercial Sale, Ridgeland, MS
Property Size4,784 SF
Lot Size0.49 Acres
Price / SF$120.19
Days on Market138
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
Wood, Carpet
Roof type
Shingle
Listing Agency:
Polles Properties, LLC
(601) 898-3364
Listed By:
Amanda Polles · License #B20367
(601) 278-6871
Added: Apr 27
Changed: Sep 6
Last Checked: Sep 11 at 9:06PM
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 4,784-square-foot office building, constructed in 1998, provides workspace across two levels. The interior includes a reception area, four private offices, a break room, and bathrooms on each floor, with carpet and wood flooring throughout the described areas. A shingle roof completes the property’s existing improvements.
The property occupies 0.49 acres in Ridgeland, Mississippi, with access to public water and public sewer. Water is available, and the surrounding area includes retail, dining, and professional services, with convenient connections to major roads.
The configuration offers separate upper- and lower-level office areas within one building, supporting an owner-user seeking multiple work zones or an organization requiring additional room for operations.
The property occupies 0.49 acres in Ridgeland, Mississippi, with access to public water and public sewer. Water is available, and the surrounding area includes retail, dining, and professional services, with convenient connections to major roads.
The configuration offers separate upper- and lower-level office areas within one building, supporting an owner-user seeking multiple work zones or an organization requiring additional room for operations.
Key Highlights
- 4,784‑square‑foot office building on 0.49 acres
- Two‑level layout with reception area, four private offices, break room, and bathrooms on both levels
- 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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,596
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Office building - Flexible layout includes reception, private offices, break areas, and bathrooms on both levels.
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: 4,784‑square‑foot office building on 0.49 acres; Two‑level layout with reception area, four private offices, break room, and bathrooms on both levels; Built in 1998
