Healthcare Campus with Private
For Sale
$10,000,000
450 Towne Center Boulevard, Ridgeland, MS 39157
Vacant care facility includes five separately accessed resident suites and a central nursing core.
Property Size51,122 SF
Lot Size5.14 Acres
Price / SF$195.61
Days on Market12
Property Features for 450 Towne Center Boulevard
General Information
Standard status
Active
Size
51,122 SF
Total Parking Spaces
101
Lot size
5.14 Acres
Zoning
S-1
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$2,908
Amenities
commercial kitchen
laundry
dining
timber-vaulted chapel
elevator
enclosed walkway
Building Details
Year Built
1999
Stories
2
Listing Agency:
EXIT Realty Heart Properties
Listed By:
Jacki Thornburg
(228) 385-9229
Source:
Exitrealtyheartproperties.idxbroker
Added: Sep 28
Changed: Oct 8
Last Checked: Oct 7 at 8:30AM
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 EXIT Realty Heart Properties
Investment Insights
Based on property information with market context.
This 51,122-square-foot healthcare campus occupies 5.14 acres in Ridgeland and is being offered vacant. Its 50 private resident rooms are arranged across five suites, with a central nursing area. The connected buildings also contain a commercial kitchen, laundry, dining space, a chapel, and a two-story administration building with an elevator. An enclosed walkway links the campus, which has sprinkler coverage throughout and 101 parking spaces. A framed 15,432-square-foot wing remains unfinished and ready for completion.
The property is zoned S-1 Special Use. Listed permitted uses include group care facilities, retirement communities with related health care, schools, and churches. Flood Zone X applies to the site.
The property is zoned S-1 Special Use. Listed permitted uses include group care facilities, retirement communities with related health care, schools, and churches. Flood Zone X applies to the site.
Key Highlights
- 51,122 SF healthcare campus on 5.14 acres in Ridgeland
- 50 private resident rooms organized into five separately accessed suites
- 15,432 SF expansion wing is framed and ready to finish
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$419,543
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,390,860
$8.4M
Cap Rate 7%
$5,993,471
$6.0M
Cap Rate 9%
$4,661,589
$4.7M
Market Conditions
NOI Build-Up for 51,122 SF
Gross rent
$809.8K $15.84/SF
− Vacancy
−$47.0K −$0.92/SF
EGI
$762.8K $14.92/SF
− OpEx
−$343.3K −$6.71/SF
NOI
$419.5K $8.21/SF
Area
Madison County, MS
Vacancy
5.80%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,390,860
Cap Rate 7%
$5,993,471
Cap Rate 9%
$4,661,589
Alternative Uses
Best Use
Apartment 5plus
$5.99M
$5.24M – $6.99M
NOI $419,543 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.13M
$9.74M – $12.98M
NOI $779,001 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,394
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
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Frequently Asked Questions
What type of property is this?
Healthcare property - Vacant care facility includes five separately accessed resident suites and a central nursing core.
Where is this healthcare property located?
The property is located at 450 Towne Center Boulevard Ridgeland, MS.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: 51,122 SF healthcare campus on 5.14 acres in Ridgeland; 50 private resident rooms organized into five separately accessed suites; 15,432 SF expansion wing is framed and ready to finish
