In this paper we propose a circularly polarized pentagonal microstrip antenna on a suspended substrate with coaxial probe feed and five loaded slits for Massive MIMO BS Antenna applications. Massive Multiple-Input Multiple-Output (MIMO) is one of the key component to be incorporated in the 5G cellular systems. The proposed antenna is successfully simulated using HFSS 13.0, fabricated on a FR-4 substrate and measured. The proposed antenna exhibits a much higher gain of 6.17dB, improved impedance bandwidth of 171.9 MHz (Return loss, S11= -10dB) , axial ratio bandwidth (< 3dB) of 135 MHz , patch area of 1775 mm2 , and also yields return loss better than -15 dB around the center frequency of 2.45 GHz (ISM Band). Measured characteristics of the antenna are in good agreement with the simulated results.