Healthcare Campus with Resident
New
For Sale
$10,000,000
450 Towne Center Boulevard, Ridgeland, MS 39157
Commercial Sale, Ridgeland, MS
Property Size51,122 SF
Lot Size5.14 Acres
Price / SF$195.61
Days on Market2
Property Features for 450 Towne Center Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Highland Colony
Lot features
Corner Lot, Level, Corner Lot, Level
Standard status
Active
APN
072i-32b-022-00-00
Size
51,122 SF
Lot size
5.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
1.32 acres out of Lot 2, Block 38, Highland Colony Subdivision (three parcels), and 1.18 acres in Lots 3 and 6 of Block 38 and Lot 6 of Block 36, Highland Colony
Tax Annual Amount
2908
Legal Description
1.32 acres out of Lot 2, Block 38, Highland Colony Subdivision (three parcels), and 1.18 acres in Lots 3 and 6 of Block 38 and Lot 6 of Block 36, Highland Colony
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
commercial kitchen
laundry
dining
timber-vaulted chapel
elevator
enclosed walkway
Building Details
Year built
1999
Floors in Building
2
Roof type
Shingle
Listing Agency:
Overby, Inc.
(601) 366-8511
Listed By:
Scott Overby · License #B-16214
(601) 624-8511
Added: Sep 26
Last Checked: Sep 27 at 7:06AM
MLS# 4163726
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.
Set on 5.14 acres, this 51,122-square-foot healthcare campus was constructed from 1997 to 1999 for inpatient hospice care and is delivered vacant. Its 50 private resident rooms are arranged in five suites with separate access, supported by a central nursing core, dining area, commercial kitchen, laundry, and timber-vaulted chapel. An enclosed walkway links the buildings, including a two-story administration building with an elevator. A 15,432-square-foot expansion wing has been framed and awaits interior completion.
The property has 101 parking spaces, public water and sewer, and a Flood Zone X designation. S-1 Special Use zoning lists group care facilities, retirement communities with related health care, schools, and churches as permitted uses. The site occupies 5.14 acres in Ridgeland, Mississippi.
The property has 101 parking spaces, public water and sewer, and a Flood Zone X designation. S-1 Special Use zoning lists group care facilities, retirement communities with related health care, schools, and churches as permitted uses. The site occupies 5.14 acres in Ridgeland, Mississippi.
Key Highlights
- 51,122 SF healthcare campus on 5.14 acres
- 50 private rooms organized into five separately accessed suites
- 15,432 SF framed expansion wing ready for completion
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
$419,543
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
4.20%
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%
$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
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
$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 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%
$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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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,385
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 - Purpose-built care space includes resident dining, a nursing core, commercial kitchen, laundry, chapel, and administration offices.
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; 50 private rooms organized into five separately accessed suites; 15,432 SF framed expansion wing ready for completion
