Ridgeland Commercial Office
For Sale
Contact for pricing
779 Avery Blvd N, Ridgeland, MS 39157
Two-story office building with additional suite on 1.35 acres.
Property Size10,498 SF
Lot Size1.35 Acres
Price / SF$142.60
Days on Market175
Property Features for 779 Avery Blvd N
General Information
Standard status
Active
Size
10,498 SF
Class
C
Lot size
1.35 Acres
Property subtype
Office
Zoning
C-1
Investment Type
Owner/User
Building Details
Year Built
1994
Buildings
2
Stories
2
Listing Agency:
Backwoods Land Company
(601) 812-8549
Listed By:
Forest Anthony · License #S-59553
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Jul 19 at 7:26AM
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 Backwoods Land Company
Investment Insights
Based on property information with market context.
This commercial office property is located in Ridgeland, Mississippi. Situated on approximately 1.35 acres, the site is zoned C-1 (Neighborhood Commercial District), accommodating various professional and office uses. Property A is a two-story professional office building with an area of approximately 10,498 square feet. It features a large downstairs reception area, a dedicated conference room, and elevator access for ADA accessibility. The layout includes 24 private office spaces designed for productivity and client flow. Property B is a detached two-story building with a garage, encompassing approximately 1,158 square feet. The downstairs area includes a full kitchen, dining area, and bathroom. Upstairs, there is a large open room and a private bathroom with a walk-in shower. This building is suitable for an executive suite, supplemental office space, or income-producing use.
Key Highlights
- Prime commercial office property in the heart of Ridgeland, MS.
- Zoned C‑1 (Neighborhood Commercial District) supporting a wide range of professional and office uses.
- Two buildings: a 10,498± SF two‑story office building and a 1,158± SF two‑story building with garage.
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
$111,654
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
7.46%
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%
$2,233,080
$2.2M
Cap Rate 7%
$1,595,057
$1.6M
Cap Rate 9%
$1,240,600
$1.2M
Market Conditions
NOI Build-Up for 10,498 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
$182.7K $17.40/SF
− Vacancy
−$33.8K −$3.22/SF
EGI
$148.9K $14.18/SF
− OpEx
−$37.2K −$3.55/SF
NOI
$111.7K $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%
$2,233,080
Cap Rate 7%
$1,595,057
Cap Rate 9%
$1,240,600
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.86M
NOI $111,654 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $159,969 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with additional suite on 1.35 acres.
Where is this office building located?
The property is located at 779 Avery Blvd N Ridgeland, MS.
What is the asking price?
The asking price for this property is $1,497,000.
What are key features of this property?
This property features: Prime commercial office property in the heart of Ridgeland, MS.; Zoned C‑1 (Neighborhood Commercial District) supporting a wide range of professional and office uses.; Two buildings: a 10,498± SF two‑story office building and a 1,158± SF two‑story building with garage.
