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Medicaid Plaza 2776 Highway 51 10,800 SF Office Building Senatobia, MS 38668 $878,000 ($81.30/SF) 8.50% Cap Rate
Investment Highlights
- The premises are 100% occupied by the State of Mississippi's Division of Medicaid, a government tenant operating the property as a regional Medicaid.
- Positioned at 2776 Highway 51 South in Senatobia, directly on the US-51 corridor that parallels I-55, the primary north-south artery.
- Senatobia is the county seat of Tate County (2025 population ~28,700) and the 16th-largest municipality in the Memphis MSA.
- Flat base rent of $107,460 annually ($8,95 per month, $9.95 PSF) across 10,800 rentable SF. The tenant furnishes all utilities & janitorial services.
- Roughly a 40-minute drive north via I-55 to Memphis International Airport (MEM), the 2nd busiest cargo airport in the world.
Executive Summary
Sands Investment Group is pleased to exclusively offer for sale the 10,800 SF Medicaid Plaza located at 2776 Hwy 51 South in Senatobia, MS. This deal includes 100% occupancy by the State of Mississippi's Division of Medicaid, providing government-backed tenancy and reliable rental income through the state's electronic remittance system. The property generates $107,460 in annual base rent, or $9.95 PSF, with the tenant responsible for utilities, janitorial services, and routine consumables, creating a low-management income stream.
In Cooperation With Sands Investment Group Mississippi, LLC - Lic. #22675 BoR: Andrew Ackerman - Lic. MS #22616
In Cooperation With Sands Investment Group Mississippi, LLC - Lic. #22675 BoR: Andrew Ackerman - Lic. MS #22616
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
10,800 SF
Building Class
B
Year Built/Renovated
2005/2016
Price
$878,000
Price Per SF
$81.30
Cap Rate
8.50%
NOI
$74,633
Tenancy
Single
Building Height
1 Story
Typical Floor Size
10,800 SF
Building FAR
0.19
Lot Size
1.34 AC
Amenities
- 24 Hour Access
- Controlled Access
- Security System
- Signage
- Kitchen
- Reception
- Central Heating
- Demised WC facilities
- Open-Plan
- Partitioned Offices
- Drop Ceiling
- Monument Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Medicaid Plaza
- Health Care and Social Assistance
- 10,800 SF
- $9.95
- Modified Gross
- Aug 2028
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Medicaid Plaza | Health Care and Social Assistance | 10,800 SF | $9.95 | Modified Gross | Aug 2028 |
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Somewhat walkable
20/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 153-05-0000113 | Improvements Assessment | $0 |
| Land Assessment | $1,725 | Total Assessment | $1,725 |
Property Taxes
Parcel Number
153-05-0000113
Land Assessment
$1,725
Improvements Assessment
$0
Total Assessment
$1,725
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Medicaid Plaza | 2776 Highway 51