Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    240 Trce Colony Park Dr Ridgeland, MS 39157-8810
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    240 Trce Colony Park Dr Ridgeland, MS 39157-8810

    View on Map
    • Office properties & Spaces
    • 11,688 SF
    • 1.30 lot acres
    Off-Market
    Property ID
    US50-0690328
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sessums Dallas, PLLC / Law Firm
    • Eric Dillon Law Firm, PLLC / Law Firm
    • Morrison IV Walter / Law Firm
    • Michael T. Jaques / Law Firm
    • Givens Law Firm, PLLC / Law Firm

    Property Details for 240 Trce Colony Park Dr

    Year built
    2007
    Lot size
    1.30 lot acres
    Property size
    11,688 SF
    Property type
    Office properties & Spaces
    APN
    071G-25B-002/03
    APU
    071G25B00203

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ridgeland
    County
    Madison
    State
    Mississippi
    Longitude
    -90.1518
    Latitude
    32.4262
    CBSA code
    27140
    CBSA name
    JACKSON, MS METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,741
    $0.00
    $0.00
    $201,758
    -
    $226,510
    $1,118,540
    $1,345,050

    Comparable in this City

    • Value Estimation by Request
      25,149 SF

      100-104 Business Park Dr

      Office properties & Spaces • 25,149 SF
      100-104 Business Park Dr, Ridgeland, MS 39157
      View Details
    • Value Estimation by Request
      4,205 SF

      114 Marketridge Dr

      OFFICE (GENERAL) • 4,205 SF
      114 Marketridge Dr, Ridgeland, MS 39157-6009
      View Details
    • Value Estimation by Request
      5,276 SF

      996 Northpark Dr

      OFFICE (GENERAL) • 5,276 SF
      996 Northpark Dr, Ridgeland, MS 39157-5233
      View Details
    • Value Estimation by Request
      4,914 SF

      441 Northpark Dr

      OFFICE (GENERAL) • 4,914 SF
      441 Northpark Dr, Ridgeland, MS 39157-5136
      View Details
    • Value Estimation by Request
      1,593 SF

      198 Ridgeland Ave

      OFFICE (GENERAL) • 1,593 SF
      198 Ridgeland Ave, Ridgeland, MS 39157-2025
      View Details
    • Value Estimation by Request
      5,096 SF

      306 Southhampton Row

      OFFICE (GENERAL) • 5,096 SF
      306 Southhampton Row, Ridgeland, MS 39157-2042
      View Details

    Similar Nearby for Sale

    • $995,000
      3,225 SF

      Ridgeland Office Building - Prime Location

      Versatile Office Space, High Visibility, Ample Parking
      740 Pear Orchard Rd, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Newly Renovated Office Building

      Modern office building with flexible layouts and prime location.
      587 Highland Colony Pkwy, Ridgeland, MS 39157
      View Details
    • $529,000
      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

      Ridgeland Office/Flex Space For Sale

      Office or flex building with dock access and convenient location.
      119 Marketridge Dr, Ridgeland, MS 39157
      View Details
    • $615,000

      Ridgeland Office Building Investment

      Four-unit office building in Ridgeland, Mississippi, with 100% occupancy.
      740 Avignon Dr, Ridgeland, MS 39157
      View Details
    • $1,100,000
      10,521 SF

      Modernized Office/Warehouse Facility For Sale

      Turnkey Ridgeland property with high-quality office and warehouse capabilities.
      206 Park Ct, Ridgeland, MS 39157
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space with High Visibility

      Office space with excellent exposure and convenient highway access.
      101 Business Park Dr, Ridgeland, MS 39157
      View Details
    • $16 SF/Yr

      Prime Commercial Space for Lease

      Modern, versatile space in a thriving commercial hub.
      7048 Old Canton Rd, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Ridgeland Flex/Office Spaces Available

      Flex/office spaces for lease in Ridgeland, Mississippi.
      100-104 Business Park Dr, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Medical Office Building Pre-Leasing

      Medical office building for lease in high-demand area.
      Colony Park Blvd, Ridgeland, MS 39157
      View Details
    • Contact for pricing

      Ridgeland Warehouse with Office Space

      20,167 SF warehouse with office space for lease.
      216 Industrial Dr, Ridgeland, MS 39157
      View Details
    • $12 SF/Yr
      1,772 SF

      Ridgeland Flex/Office Spaces for Lease

      Flex/office spaces for lease in Ridgeland, Mississippi.
      100 Business Park Dr, 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.
    240 Trce Colony Park Dr
    Ridgeland, MS 39157-8810
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!