Flex Space with T6
For Sale
$1,080,000
1306 29th Avenue, Gulfport, MS 39501
Commercial Sale, Gulfport, MS
Property Size8,195 SF
Lot Size0.40 Acres
Price / SF$131.79
Days on Market320
Property Features for 1306 29th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B2
Parking
26
Subdivision
Gulfport City
Lot features
Corner Lot, Near Beach, Corner Lot, Near Beach
Standard status
Active
APN
0811l-01-016.000
Size
8,195 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
1924
Tax Description
Lots 23 to 26 Blk 176 Original Gpt. & Lots 20 to 22Blk 176 Original Gpt.
Tax Annual Amount
8364
Legal Description
Lots 23 to 26 Blk 176 Original Gpt. & Lots 20 to 22Blk 176 Original Gpt.
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1962
Flooring type
Vinyl
Roof type
Metal
Listing Agency:
RE/MAX Choice Properties · RE/MAX International
(228) 896-3033
Listed By:
Jay E Schroeder · License #B8092
(228) 861-2115
Added: Oct 15, 2025
Changed: Aug 26
Last Checked: Aug 30 at 11:06PM
MLS# 4128743
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8,195-square-foot flex space in Gulfport was built in 1962 and has a metal roof with vinyl flooring. The building is served by public water and public sewer, providing core utility infrastructure for commercial occupancy.
The property is located at 1306 29th Avenue in Gulfport, Mississippi, within ZIP Code 39501. It previously operated as a winery and later housed the Crescent School of Gaming and Bartending. T6 zoning is identified for the property.
The property is located at 1306 29th Avenue in Gulfport, Mississippi, within ZIP Code 39501. It previously operated as a winery and later housed the Crescent School of Gaming and Bartending. T6 zoning is identified for the property.
Key Highlights
- 8,195‑square‑foot flex space
- T6 zoning
- Built in 1962
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,374
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,267,480
$1.3M
Cap Rate 7%
$905,343
$905.3K
Cap Rate 9%
$704,156
$704.2K
Market Conditions
NOI Build-Up for 8,195 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$106.2K $12.96/SF
− Vacancy
−$8.7K −$1.06/SF
EGI
$97.5K $11.90/SF
− OpEx
−$34.1K −$4.16/SF
NOI
$63.4K $7.73/SF
Area
Harrison County, MS
Vacancy
8.20%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,267,480
Cap Rate 7%
$905,343
Cap Rate 9%
$704,156
Alternative Uses
Best Use
Flex RnD
$905.3K
$792.2K – $1.06M
NOI $63,374 @ 7.0% cap · market cap 5.87%
Second Best
Industrial
$584.9K
$511.8K – $682.4K
NOI $40,941 @ 7.0% cap · market cap 3.79%
Theoretical Best
Healthcare Medical
$1.32M
$1.16M – $1.54M
NOI $92,415 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,157
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39501, MS
22,599
Population
10,565
Households
2.1
Avg Household Size
35
Median Age
13%
College-Educated
78%
High-School Grad
14.4 sq mi
ZIP Area
1,569
Density / Sq Mi
$33,491
Median Household Income
$28,522
Median Earnings
$962
Median Rent
$115,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Catering Creations — 1822 15th St #7, Gulfport, MS 39501
Frequently Asked Questions
What type of property is this?
Flex space - Metal-roofed commercial building with public water and sewer service.
Where is this flex space located?
The property is located at 1306 29th Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: 8,195‑square‑foot flex space; T6 zoning; Built in 1962
