Ridgeland Retail/Storage Building For
For Sale
Contact for pricing
Pending
515 S Pear Orchard Rd, Ridgeland, MS 39157
Retail building with showroom and storage in Ridgeland, Mississippi.
Property Size3,150 SF
Lot Size0.42 Acres
Days on Market360
Property Features for 515 S Pear Orchard Rd
General Information
Standard status
Pending
Size
3,150 SF
Lot size
0.42 Acres
Property subtype
Retail
Zoning
C-2a
Building Details
Year Built
1994
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Payne Realty Inc
Listed By:
Tommy Payne, CCIM · License #MS B-21592
Source:
Crexi
Added: Aug 28, 2025
Changed: Aug 8
Last Checked: Jul 24 at 5:38PM
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 Payne Realty Inc
Investment Insights
Based on property information with market context.
Located in Ridgeland, Mississippi, this property features a retail building with approximately 3,150 square feet of space. Constructed in 1994, the building includes a front retail/showroom area of approximately 1,350 square feet and an open storage area of approximately 1,800 square feet. The property is situated on a lot of just over 0.42 acres and is zoned C-2a. The property is being sold "as is, where is."
Key Highlights
- +/- 3,150 sq ft Retail Building
- Zoned C‑2a
- Located in Ridgeland, Mississippi
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
$30,661
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
7.67%
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%
$613,220
$613.2K
Cap Rate 7%
$438,014
$438.0K
Cap Rate 9%
$340,678
$340.7K
Market Conditions
NOI Build-Up for 3,150 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
$47.3K $15.00/SF
− Vacancy
−$3.4K −$1.10/SF
EGI
$43.8K $13.91/SF
− OpEx
−$13.1K −$4.17/SF
NOI
$30.7K $9.73/SF
Area
Madison County, MS
Vacancy
7.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$613,220
Cap Rate 7%
$438,014
Cap Rate 9%
$340,678
Alternative Uses
Best Use
Retail
$438.0K
$383.3K – $511.0K
NOI $30,661 @ 7.0% cap · market cap 7.67%
Second Best
Warehouse
$282.0K
$246.8K – $329.0K
NOI $19,740 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$685.7K
$600.0K – $800.0K
NOI $48,000 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
903
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail building with showroom and storage in Ridgeland, Mississippi.
Where is this retail space located?
The property is located at 515 S Pear Orchard Rd Ridgeland, MS.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: +/- 3,150 sq ft Retail Building; Zoned C‑2a; Located in Ridgeland, Mississippi
