Commercial Land with Highway
For Sale
$395,000
1807 School Street, Ocean Springs, MS 39564
COMMERCIAL - Ocean Springs, MS
Property Size1,344 SF
Lot Size0.12 Acres
Price / SF$293.90
Days on Market243
Property Features for 1807 School Street
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
APN
6-12-65-023.000
Size
1,344 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
E 66' LOT 21 S OF HWY 90 MESTIERS/D DB 94-197 (138 MAP784.19-04)DB 1472-719 DB 1604-497
Legal Description
E 66' LOT 21 S OF HWY 90 MESTIERS/D DB 94-197 (138 MAP784.19-04)DB 1472-719 DB 1604-497
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1952
Floors in Building
1
Listing Agency:
Rain Residential
(228) 875-4499
Listed By:
Laura R Lacoste · License #S55477
(228) 918-2969
Added: Dec 12, 2025
Changed: Aug 4
Last Checked: Aug 12 at 9:06AM
MLS# 4133742
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 commercial land offering includes an existing structure supported by pilings, providing flexibility for redevelopment and allowing buyers to establish their preferred commercial footprint. The property is identified as a retail space/commercial site and is zoned CH (Commercial High-Intensity Mixed Use), supporting a range of commercial possibilities subject to verification of allowable uses.
The site features high-exposure frontage on Highway 90. In addition to highway visibility, it offers rear access to School Street’s golf-cart-friendly route, supporting connectivity to the downtown area without crossing Highway 90.
Buyers and agents are encouraged to verify all information and complete due diligence to confirm development options and permitted uses.
The site features high-exposure frontage on Highway 90. In addition to highway visibility, it offers rear access to School Street’s golf-cart-friendly route, supporting connectivity to the downtown area without crossing Highway 90.
Buyers and agents are encouraged to verify all information and complete due diligence to confirm development options and permitted uses.
Key Highlights
- Prime Highway 90 visibility for high‑exposure commercial frontage.
- Direct golf‑cart‑accessible connection to downtown Ocean Springs.
- CH (Commercial High‑Intensity Mixed Use) zoning allows for a wide variety of commercial possibilities.
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
$15,999
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
4.05%
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%
$319,980
$320.0K
Cap Rate 7%
$228,557
$228.6K
Cap Rate 9%
$177,767
$177.8K
Market Conditions
NOI Build-Up for 1,344 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
$22.9K $17.04/SF
− Vacancy
−$46 −$0.03/SF
EGI
$22.9K $17.01/SF
− OpEx
−$6.9K −$5.10/SF
NOI
$16.0K $11.90/SF
Area
Jackson County, MS
Vacancy
0.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$319,980
Cap Rate 7%
$228,557
Cap Rate 9%
$177,767
Alternative Uses
Best Use
Retail
$228.6K
$200.0K – $266.7K
NOI $15,999 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$367.2K
$321.3K – $428.4K
NOI $25,702 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,140
Businesses Nearby
Explore this area
Business Placement
Demographics for 39564, MS
42,539
Population
18,908
Households
2.2
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
53.3 sq mi
ZIP Area
798
Density / Sq Mi
$77,300
Median Household Income
$43,754
Median Earnings
$1,314
Median Rent
$220,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Zoned CH Commercial High-Intensity Mixed Use with Highway 90 exposure and rear access to a golf-cart-friendly route.
Where is this commercial land located?
The property is located at 1807 School Street Ocean Springs, MS.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Prime Highway 90 visibility for high‑exposure commercial frontage.; Direct golf‑cart‑accessible connection to downtown Ocean Springs.; CH (Commercial High‑Intensity Mixed Use) zoning allows for a wide variety of commercial possibilities.
