877 Northpark Dr Ridgeland, MS 39157-5220
- Office Properties & Spaces
- 15,796 SF
- 2.11 lot acres
Current Use by Public Records
- Wellsco Inc / Engineer
- Modivcare business office - Mississippi / Logistics Service
- Pleasant Living Care / Social Services Organization
- Inspired Happiness Therapy and Wellness / Counselor / Mental Health Service
- Reeves Elizabeth / Counselor
Property Details for 877 Northpark Dr
- Year built
- 2003
- Lot size
- 2.11 lot acres
- Property size
- 15,796 SF
- Property type
- Office Properties & Spaces
- APN
- 072I-32A-005/02.01
- APU
- 072I32A0050201
Description
This exceptional 16,000-square-foot, single-story office building in Ridgeland, Mississippi presents a compelling investment opportunity. Located at 877 Northpark Dr, this Class B property boasts a 100% occupancy rate with three tenants, including a recently signed five-year lease with ModivCare, a NASDAQ-listed company, occupying 10,000 square feet. The building, constructed in 1999 and situated on a 2.11-acre lot (APN: 072I-32A-005-02-01), is zoned GO - General Office. Significant renovations were completed in 2019 and 2024, exceeding $350,000-$400,000 in improvements, encompassing new carpet, paint, cabinets, breakroom upgrades, restroom renovations, ceiling tiles, LED lighting, and a new roof (2019). The parking lot was recently sealed and restriped in March 2024. This multi-tenant building offers a strong cash flow with an asking price of $1,950,000 ($121.88/sq ft) and an 8.00% cap rate. The property is part of a larger four-building complex totaling over 34,000 square feet. An additional 18,204 square feet of the complex is also available for purchase.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ridgeland
- County
- Madison
- State
- Mississippi
- Longitude
- -90.1113
- Latitude
- 32.4077
- CBSA code
- 27140
- CBSA name
- JACKSON, MS METROPOLITAN STATISTICAL AREA
