Flex Space With
For Sale
$2,500,000
812 Lake Harbour Drive, Ridgeland, MS 39157
Commercial Sale, Ridgeland, MS
Property Size10,125 SF
Lot Size1.47 Acres
Price / SF$246.91
Days on Market90
Property Features for 812 Lake Harbour Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C2
Parking
6
Standard status
Active
APN
072h-28c-111-03-00
Size
10,125 SF
Lot size
1.47 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
1.47 AC IN SW1/4 SW1/4
Tax Annual Amount
10174
Legal Description
1.47 AC IN SW1/4 SW1/4
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Amenities
spacious front showroom
large storefront windows
dedicated display areas
warehouse and storage space
multiple work areas
oversized roll-up doors
central HVAC
Building Details
Floors in Building
2
Roof type
Metal
Listing Agency:
Fast Track Realty
(901) 767-8770
Listed By:
Seth E Spratlin · License #S54908
(662) 822-1555
Added: Jul 1
Changed: Aug 26
Last Checked: Sep 28 at 5:06AM
MLS# 4154544
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 flex-space property includes a 10,125 square foot commercial building on 1.47 acres. The improvements combine a front showroom with large storefront windows, display areas, warehouse and storage space, multiple work areas, and oversized roll-up doors. Durable metal construction, central HVAC, public water, and public sewer are also in place. Approximately 31 parking spaces serve the property. The real estate, contents, and existing business operation are available together if desired.
The property is located at 812 Lake Harbour Drive in Ridgeland, Mississippi, near retailers, restaurants, residential neighborhoods, and business centers. Access to Jackson, Madison, Flowood, and the surrounding Central Mississippi market is provided from this location, with I-55, the Ross Barnett Reservoir, County Line Road, and Highland Colony Parkway nearby. The building is suited to retail, showroom, service, distribution, warehouse, equipment sales, and owner-user operations.
The property is located at 812 Lake Harbour Drive in Ridgeland, Mississippi, near retailers, restaurants, residential neighborhoods, and business centers. Access to Jackson, Madison, Flowood, and the surrounding Central Mississippi market is provided from this location, with I-55, the Ross Barnett Reservoir, County Line Road, and Highland Colony Parkway nearby. The building is suited to retail, showroom, service, distribution, warehouse, equipment sales, and owner-user operations.
Key Highlights
- 10,125+/- square foot commercial building on 1.47+/- acres
- Front showroom with large storefront windows and dedicated display areas
- Warehouse, storage, and multiple work areas with oversized roll‑up doors
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
$98,552
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
3.94%
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%
$1,971,040
$2.0M
Cap Rate 7%
$1,407,886
$1.4M
Cap Rate 9%
$1,095,022
$1.1M
Market Conditions
NOI Build-Up for 10,125 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
$151.9K $15.00/SF
− Vacancy
−$11.1K −$1.10/SF
EGI
$140.8K $13.91/SF
− OpEx
−$42.2K −$4.17/SF
NOI
$98.6K $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%
$1,971,040
Cap Rate 7%
$1,407,886
Cap Rate 9%
$1,095,022
Alternative Uses
Best Use
Retail
$1.41M
$1.23M – $1.64M
NOI $98,552 @ 7.0% cap · market cap 3.94%
Second Best
Flex RnD
$1.16M
$1.02M – $1.36M
NOI $81,313 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,286 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Penn's | Fish House Restaurants — 796 Lake Harbour Dr, Ridgeland, MS 39157
Frequently Asked Questions
What type of property is this?
Flex space - Front retail display areas connect with warehouse, storage, and work spaces for varied commercial operations.
Where is this flex space located?
The property is located at 812 Lake Harbour Drive Ridgeland, MS.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 10,125+/- square foot commercial building on 1.47+/- acres; Front showroom with large storefront windows and dedicated display areas; Warehouse, storage, and multiple work areas with oversized roll‑up doors
