Flex Space with Office and
For Sale
$309,000
550 Pearl Park Plaza, Pearl, MS 39208
Commercial Sale, Pearl, MS
Property Size3,000 SF
Lot Size0.31 Acres
Price / SF$103
Days on Market93
Property Features for 550 Pearl Park Plaza
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
APN
E09c-000014-00020
Size
3,000 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
A LOT 89.18 X 17.25 X 122.58 X 100.0 X 136.0 BEING APPR OX 0.31 AC
Tax Annual Amount
3093
Legal Description
A LOT 89.18 X 17.25 X 122.58 X 100.0 X 136.0 BEING APPR OX 0.31 AC
Building Details
Year built
1987
Listing Agency:
Backwoods Land Company, LLC
(601) 209-4882
Listed By:
Steven L Milner · License #B18659
(601) 941-1622
Added: May 25
Changed: Aug 23
Last Checked: Aug 25 at 4:06AM
MLS# 4150578
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 3,000-square-foot flex property combines approximately 1,500 SF of office space with approximately 1,500 SF of warehouse and shop space. The split layout supports administrative functions alongside storage, shop, or operational areas within the same building. Constructed in 1987, the property occupies approximately 0.31 acres at 550 Pearl Park Plaza in Pearl, Mississippi.
The property is currently leased through July 30, 2026. Its location in Rankin County places it within the Pearl area and the greater Jackson metro market, with access to major transportation corridors noted in the property information. The existing office-and-warehouse configuration provides a practical foundation for continued occupancy or future owner use after the current lease term.
The property is currently leased through July 30, 2026. Its location in Rankin County places it within the Pearl area and the greater Jackson metro market, with access to major transportation corridors noted in the property information. The existing office-and-warehouse configuration provides a practical foundation for continued occupancy or future owner use after the current lease term.
Key Highlights
- Approximately 1,500 SF of office space
- Approximately 1,500 SF of warehouse/shop space
- 3,000 square feet of total property size
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
$22,530
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
7.29%
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%
$450,600
$450.6K
Cap Rate 7%
$321,857
$321.9K
Cap Rate 9%
$250,333
$250.3K
Market Conditions
NOI Build-Up for 3,000 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
$28.4K $9.48/SF
− Vacancy
−$1.9K −$0.64/SF
EGI
$26.5K $8.84/SF
− OpEx
−$4.0K −$1.33/SF
NOI
$22.5K $7.51/SF
Area
Rankin County, MS
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$450,600
Cap Rate 7%
$321,857
Cap Rate 9%
$250,333
Alternative Uses
Best Use
Office B
$462.9K
$405.0K – $540.0K
NOI $32,400 @ 7.0% cap · market cap 10.49%
Second Best
Warehouse
$321.9K
$281.6K – $375.5K
NOI $22,530 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$822.9K
$720.0K – $960.0K
NOI $57,600 @ 7.0% cap · market cap 18.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39208, MS
34,228
Population
13,931
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
87%
High-School Grad
47.8 sq mi
ZIP Area
716
Density / Sq Mi
$58,878
Median Household Income
$40,785
Median Earnings
$1,157
Median Rent
$173,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- King Kakes & Katering, LLC — 3064 Highway 80 E, #10, Pearl, MS 39208
Frequently Asked Questions
What type of property is this?
Flex space - Functional commercial property combining finished office areas with warehouse and shop space in an established Pearl business area.
Where is this flex space located?
The property is located at 550 Pearl Park Plaza Pearl, MS.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: Approximately 1,500 SF of office space; Approximately 1,500 SF of warehouse/shop space; 3,000 square feet of total property size
