Homestead Office Building - City of Madison

118 Homestead Drive Madison, MS 39110

118 Homestead Drive, Madison, MS, 39110
Office Building - City of Madison - For Sale
118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110 118 Homestead Drive, Madison, MS, 39110
FOR SALE
Property Type:
Multi Tenant Office
Amount:
$1,395,000
Last Verified:
Apr 29, 2024

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Highlights

  • +/-9,000SF Multi-Tenant office building
  • Located in Homestead Office Park, Madison
  • Constructed new in 2008
  • Large double lot (1.3 acres) with 34 parking spaces
  • Great investment property, owner user, or combination.

Description

+/-9,000SF multi-Tenant office building located in Homestead Office Park within the city of Madison. Very convenient location with easy access to Madison, Ridgeland and Gluckstadt, etc. via Hwy 51. The building is in very good condition, constructed new in 2008, and is situated on two lots (1.3 Acres). The first-floor space has a large common foyer with seating area and is currently divided into three suites. The second floor is fully leased to a single tenant but could be easily divided into multiple suites if desired. There are 34 spaces up front, the rear of the lot is partially wooded and is nicely landscaped. Great investment property, owner user or combination. The owner is currently replacing all of the metal roof screws and pipe boots, replacing facia wood as needed and staining the exterior wood. First floor lease rates are well below market rate providing the new owner with significant upside as leases renew.

Located just North of Hoy Road in Homestead Office Park off of Highway 51, City of Madison.


Year Built: 2008
Building Size: 9000sq ft
Building Class: B
Lot Size: 1.3 acres

Map of 118 Homestead Drive, Madison, MS, 39110

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.