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690 Towne Center Blvd 7,300 SF Office Building Ridgeland, MS 39157 $1,195,000 ($163.70/SF) 9.60% Cap Rate
EXECUTIVE SUMMARY
7,000/SF on 1st floor and 300/SF unfinished on 2nd floor.
Over $100,000 was spent upgrading the building in October and November, 2024!
LOTS of new items added and building is in outstanding condition.
Building contains a fire sprinkler system which helps lower insurance cost.
Roof less than 4 years old as of 2025.
A 64-month modified gross lease was executed with a 25+ year established law firm. The lease begins September 1, 2025 and has a rent increase after the 28th month.
Tenant pays utilities, janitorial and communication expenses.
List price: $1,195,000
The average cap rate for the lease term is +/- 9.6% with the cap rate being +/- 10% for the final 3 years of lease.
Call Hugh Johnson, Broker, today at 601-506-4549 for more information.
Over $100,000 was spent upgrading the building in October and November, 2024!
LOTS of new items added and building is in outstanding condition.
Building contains a fire sprinkler system which helps lower insurance cost.
Roof less than 4 years old as of 2025.
A 64-month modified gross lease was executed with a 25+ year established law firm. The lease begins September 1, 2025 and has a rent increase after the 28th month.
Tenant pays utilities, janitorial and communication expenses.
List price: $1,195,000
The average cap rate for the lease term is +/- 9.6% with the cap rate being +/- 10% for the final 3 years of lease.
Call Hugh Johnson, Broker, today at 601-506-4549 for more information.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
7,300 SF
Building Class
B
Year Built
1999
Price
$1,195,000
Price Per SF
$163.70
Cap Rate
9.60%
NOI
$114,750
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
7,000 SF
Building FAR
0.25
Lot Size
0.67 AC
Opportunity Zone
Yes
Zoning
C-2 - General Commercial
Parking
30 Spaces (4.11 Spaces per 1,000 SF Leased)
AMENITIES
- Hardwood Floors
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Lefoldt & Co PA
- Professional, Scientific, and Technical Services
- -
- -
- -
- Maloney & Assoc
- Professional, Scientific, and Technical Services
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Lefoldt & Co PA | Professional, Scientific, and Technical Services | - | - | - | ||
| Maloney & Assoc | Professional, Scientific, and Technical Services | - | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 072I-32A-003-05-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $97,362 |
PROPERTY TAXES
Parcel Number
072I-32A-003-05-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$97,362
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690 Towne Center Blvd
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