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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    608 Hwy 51 Ridgeland, MS 39157-2608

    • Warehouses
    • 10,404 SF
    • 0.38 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0755431
    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.

    Current Use by Public Records

    • Warehouses

    Property Details for 608 Hwy 51

    Year built
    1979
    Lot size
    0.38 lot acres
    Property size
    10,404 SF
    Property type
    Warehouses
    APN
    072D-19D-090/02
    APU
    072D19D09002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ridgeland
    County
    Madison
    State
    Mississippi
    Longitude
    -90.1255
    Latitude
    32.4339
    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
    $5,282
    $0.00
    $0.00
    $49,014
    -
    $82,760
    $244,000
    $326,760

    Comparable in this City

    • Value Estimation by Request
      5,303 SF

      209 Ridgeland Ave

      WAREHOUSE, STORAGE • 5,303 SF
      209 Ridgeland Ave, Ridgeland, MS 39157-2028
      View Details
    • Value Estimation by Request
      6,000 SF

      236 School St

      WAREHOUSE, STORAGE • 6,000 SF
      236 School St, Ridgeland, MS 39157-2707
      View Details
    • Value Estimation by Request
      5,820 SF

      123 State St

      WAREHOUSE, STORAGE • 5,820 SF
      123 State St, Ridgeland, MS 39157-4504
      View Details
    • Value Estimation by Request
      5,727 SF

      1716 County Line Rd

      WAREHOUSE, STORAGE • 5,727 SF
      1716 County Line Rd, Ridgeland, MS 39157-5075
      View Details
    • Value Estimation by Request
      7,200 SF

      209 Industrial Cv

      WAREHOUSE, STORAGE • 7,200 SF
      209 Industrial Cv, Ridgeland, MS 39157-2729
      View Details
    • Value Estimation by Request
      8,588 SF

      108 State St

      WAREHOUSE, STORAGE • 8,588 SF
      108 State St, Ridgeland, MS 39157-4503
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Ridgeland Warehouse with Office Space

      20,167 SF warehouse with office in prime Ridgeland location.
      216 Industrial Dr, Ridgeland, MS 39157
      View Details
    • $2,500,000
      10,125 SF

      Ridgeland Commercial Building and Business

      High-visibility commercial building with established business in thriving Ridgeland.
      812 Lake Harbour Dr, Ridgeland, MS 39157
      View Details
    • $3,975,000
      108,029 SF

      Ridgeland Commercial Investment Opportunity

      Office, retail, and warehouse spaces producing $30k monthly income.
      608 Highway 51, Ridgeland, MS 39157
      View Details
    • $575,000
      4.80 Acres

      Ridgeland Industrial Land - $575K

      4.8 Acres, I-220 Visibility, Ready to Develop
      0 Cole Rd, Ridgeland, MS 39157
      View Details
    • Contact for pricing
      0.76 Acres

      Modern Lubbock County Warehouse

      Class A Industrial Space - New Construction
      220 Marketridge Dr, Ridgeland, MS 39157
      View Details
    • Contact for pricing
      10,169 SF

      Northpark Mall Auto Shop Space

      Prime Retail Auto Shop, Ridgeland, MS
      1200 County Line Rd, Ridgeland, MS 39157
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      7,000 SF

      Ridgeland Warehouse: 7,000 SF Available

      Prime Ridgeland industrial warehouse for lease.
      209 Ridgeland Ave, Ridgeland, MS 39157
      View Details
    • $9 SF/Yr
      20,167 SF

      Ridgeland Warehouse For Lease

      20,167 SF Industrial Space, MS
      216 Industrial Dr, Ridgeland, MS 39157
      View Details
    • $12,325 /Mo
      10,200 SF

      Ridgeland Flex Space Available

      Versatile flex space in a prime Ridgeland location for lease.
      854 Wilson Dr, Ridgeland, MS 39157
      View Details
    • $12 SF/Yr
      25,149 SF

      Ridgeland Flex/Office Spaces for Lease

      Flex/office spaces for lease in prime Ridgeland location.
      100-104 Business Park Dr, Ridgeland, MS 39157
      View Details
    • Contact for pricing
      21,000 SF

      Proposed Flex Buildings in Ridgeland

      Proposed industrial development featuring flexible spaces in Madison County.
      105 E Marketridge Dr, Ridgeland, MS 39157
      View Details
    • $8 SF/Yr
      7,500 SF

      Ridgeland, MS Industrial Space

      7,500 SF Flex Warehouse For Lease
      650 Ridgewood Rd, Ridgeland, MS 39157
      View Details
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    608 Hwy 51
    Ridgeland, MS 39157-2608
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    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
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