690 Towne Center Blvd - Office FOR SALE


Ridgeland, MS 39157- Outer Ridgeland/Madison
$1,275,000 USD
601-352-0757
690 Towne Center Blvd, Ridgeland, MS for Sale
$1,275,000 USD
Office - FOR SALE
1/11
null | 9% Cap Rate

690 Towne Center Blvd
Ridgeland, MS 39157
Outer Ridgeland/Madison


OVERVIEW

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!! All new LVT flooring, LED light fixtures, both restrooms & break room were totally renovated, fresh paint inside/outside including all interior doors, all exterior metal doors were replaced with glass doors, new wood base boards, new door handles, nice extra features added in reception area and new landscaping. Building contains a fire sprinkler system which helps lower insurance cost. A 64-month modified gross lease was executed with a 25+ year established law firm in January. The lease begins September 1, 2025. Tenant pays utilities, janitorial and communication expenses. List price: $1,275,000 The average cap rate over the lease term is +/- 9%. For first 2+ years it will be 8.43% +\- then for the last 3+ years it will be 9.37% +/-. Contact Hugh Johnson, Broker, at 601-506-4549 or hjohnson@waltermichel.com for more information.

FOR SALE DETAILS

PRICE

$1,275,000 USD

PRICE/SF

$175 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.67 AC

LAND SF

29,185 SF

ZONING

C-2

APN/PARCEL ID

072I-32A-003-05-00

ASK ABOUT THIS PROPERTY

Hugh JohnsonJ. Walter Michel AgencyMore Info
601-352-0757

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Hugh JohnsonJ. Walter Michel AgencyMore Info
601-352-0757

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.