Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    403b Towne Center Blvd Ridgeland, MS 39157
    Back to Search
    Property profile & analytics

    403b Towne Center Blvd, Ridgeland, MS 39157

    View on Map
    • Residential income homes
    • 5,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dominion Payroll / Accounting Firm

    Property Details for 403b Towne Center Blvd

    Property type
    Residential income homes

    Description

    This 21,000 square foot multi-tenant industrial building, located in northeast central Ohio near John Glenn Columbus International Airport, offers flexible warehouse and distribution space for lease. The property features fourteen suites, with a minimum divisible space of 3,000 square feet and a maximum contiguous space of 3,600 square feet. Currently, 6,600 square feet is available. Each unit includes warehouse space, a small office, a private restroom, and a 10' x 10' overhead door, making it ideal for a variety of businesses. The building's strategic location in Franklin County provides easy access to surrounding suburbs including Bexley, Whitehall, Gahanna, and Blacklick, offering excellent connectivity to the rest of central Ohio. This property presents a unique opportunity for businesses seeking efficient and conveniently located industrial space. The available space ranges from 1,200 to 3,600 square feet, catering to diverse business needs. The building's design and location combine to offer a practical and accessible solution for companies seeking a presence in this thriving area of central Ohio. Contact us today to learn more about leasing opportunities and explore how this property can benefit your business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ridgeland
    County
    Madison
    State
    Mississippi
    Longitude
    -90.1225
    Latitude
    32.4079

    Comparable in this City

    • Value Estimation by Request
      17,947 SF

      267 Perkins St

      1031 exchange properties
      267 Perkins St, Ridgeland, MS 39157
      View Details
    • Value Estimation by Request
      10,904 SF

      340 Arbor Dr

      APARTMENT HOUSE (5+ UNITS)
      340 Arbor Dr, Ridgeland, MS 39157-4812
      View Details
    • Value Estimation by Request
      15,905 SF

      Ridgeland, MS 39157

      APARTMENT HOUSE (5+ UNITS)
      Ridgeland, MS 39157
      View Details
    • Value Estimation by Request
      7,765 SF

      2144 Lakeshore Dr

      APARTMENT HOUSE (5+ UNITS)
      2144 Lakeshore Dr, Ridgeland, MS 39157-1026
      View Details
    • Value Estimation by Request
      5,498 SF

      109 Pne Knl Dr

      APARTMENT HOUSE (5+ UNITS)
      109 Pne Knl Dr, Ridgeland, MS 39157-1350
      View Details
    • Value Estimation by Request
      6,536 SF

      711 Lk Harbour Dr

      APARTMENT HOUSE (5+ UNITS)
      711 Lk Harbour Dr, Ridgeland, MS 39157-4300
      View Details

    Similar Nearby for Sale

    • $1,250,000
      57.00 Acres

      57 Acres Vacant Land Ridgeland

      57 acre vacant land with development potential in Ridgeland, MS.
      2300 West County Line Rd, Ridgeland, MS 39157
      View Details
    • Contact for pricing
      5,040 SF

      Ridgeland Commercial Property For Sale

      5,040 SF commercial property in Ridgeland, MS with high occupancy.
      741 Avignon Dr, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Commercial Land Ready for Development

      Commercial land for development in high-growth Ridgeland submarket.
      560 Highland Colony Pkwy, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Highland Colony Business Park Lots

      Multiple commercial lots available in Highland Colony Business Park.
      220 Marketridge Dr, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Ridgeland Land with Interstate Visibility

      6.84 acres in Ridgeland Business Park with TIP zoning.
      6704 Cole Rd, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Ridgeland Retail Building For Sale

      Four-unit retail building in Ridgeland, Mississippi, 100% occupancy.
      1230 E County Line Rd, Ridgeland, MS 39157
      View Details

    Similar Nearby for Lease

    • $2,090 /Mo
      1,254 SF

      Class A Office Space

      Office space for rent in Ridgeland, MS with great views.
      800 Woodlands Pkwy, Ridgeland, MS 39157
      View Details
    • $2,002 /Mo
      1,201 SF

      Class A Office Space Available

      Class A office space for lease in Ridgeland, Mississippi.
      800 Woodlands Pkwy, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Ridgeland Office Space For Rent

      Class B office building in Ridgeland's Highland Colony corridor.
      385B Highland Colony Pkwy, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Modern Office Space in Ridgeland

      Two-story office building in premier business corridor for rent.
      625 Highland Colony Pkwy, Ridgeland, MS 39157
      View Details
    • $15 SF/Yr

      Ridgeland Industrial Flex Office Space

      Industrial flex office space for lease in Ridgeland, Mississippi.
      218 N Wheatley St, Ridgeland, MS 39157
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    403b Towne Center Blvd
    Ridgeland, MS 39157
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    403b Towne Center Blvd, Ridgeland, MS, 39157
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!