Flex Space with Roll-Up
For Sale
$648,000
198 Main Street, Biloxi, MS 39530
Commercial Sale, Biloxi, MS
Property Size6,384 SF
Lot Size0.81 Acres
Price / SF$101.50
Days on Market687
Property Features for 198 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Downtown
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 3
Parking
25
Subdivision
St Paul
Lot features
Corner Lot, Level, Cleared, Corner Lot, Level, Cleared
Directions
From Hwy 90 turn north at Main Street. Property is located at the southeast corner of Main Street and Esters Blvd. south side of RR)
Standard status
Active
APN
1410k-01-040.000
Size
6,384 SF
Lot size
0.81 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
BEG S MAR NEW R/R ST (ESTERS BLVD) AND W LINE FORMER ELDER ST W 75.9 FT TO A CURVE ON E LINE MAIN ST SLY 46 FT S 99 FT E 117 FT TO FORMER ELDER ST N 125 FT TO POB S/B 96
Tax Annual Amount
2967
Legal Description
BEG S MAR NEW R/R ST (ESTERS BLVD) AND W LINE FORMER ELDER ST W 75.9 FT TO A CURVE ON E LINE MAIN ST SLY 46 FT S 99 FT E 117 FT TO FORMER ELDER ST N 125 FT TO POB S/B 96
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
heated and cooled
3 roll-up doors
Building Details
Year built
1974
Floors in Building
2
Flooring type
Tile - Ceramic
Listing Agency:
Owen & Co., LLC
(228) 822-9870
Listed By:
Sherry L Owen · License #B8407
(228) 760-2815
Added: Oct 8, 2024
Changed: Aug 23
Last Checked: Aug 25 at 5:06AM
MLS# 4093586
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 flex property includes a 6,384-square-foot metal building with 1,250 square feet of heated and cooled space, three roll-up doors, ceramic tile flooring, and four bathrooms. A separate 22-by-22-foot metal building adds functional support space and includes an 18-by-6.6-inch roll-up door. The improvements date to 1974 and the property has been used as an electric auto store.
The offering spans three parcels totaling approximately 0.81 acres at the corner of Main Street and Esters Boulevard, south of the railroad. It is situated in downtown Biloxi, with public water and public sewer serving the property.
The offering spans three parcels totaling approximately 0.81 acres at the corner of Main Street and Esters Boulevard, south of the railroad. It is situated in downtown Biloxi, with public water and public sewer serving the property.
Key Highlights
- 6,384‑square‑foot metal flex building with 1,250 square feet heated and cooled
- Three roll‑up doors in the main building
- Detached 22‑by‑22‑foot metal building with an 18‑by‑6.6‑inch roll‑up door
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
$57,409
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
8.86%
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%
$1,148,180
$1.1M
Cap Rate 7%
$820,129
$820.1K
Cap Rate 9%
$637,878
$637.9K
Market Conditions
NOI Build-Up for 6,384 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
$89.6K $14.04/SF
− Vacancy
−$7.6K −$1.19/SF
EGI
$82.0K $12.85/SF
− OpEx
−$24.6K −$3.85/SF
NOI
$57.4K $8.99/SF
Area
Harrison County, MS
Vacancy
8.50%
Lease Rate
$14.04 /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%
$1,148,180
Cap Rate 7%
$820,129
Cap Rate 9%
$637,878
Alternative Uses
Best Use
Retail
$820.1K
$717.6K – $956.8K
NOI $57,409 @ 7.0% cap · market cap 8.86%
Second Best
Flex RnD
$705.3K
$617.1K – $822.8K
NOI $49,369 @ 7.0% cap · market cap 7.62%
Theoretical Best
Healthcare Medical
$1.03M
$899.9K – $1.20M
NOI $71,992 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39530, MS
8,392
Population
4,533
Households
1.9
Avg Household Size
41
Median Age
18%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
1,865
Density / Sq Mi
$39,755
Median Household Income
$26,222
Median Earnings
$821
Median Rent
$149,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Metal commercial building with multiple service areas, a detached outbuilding, and public water and sewer connections.
Where is this flex space located?
The property is located at 198 Main Street Biloxi, MS.
What is the asking price?
The asking price for this property is $648,000.
What are key features of this property?
This property features: 6,384‑square‑foot metal flex building with 1,250 square feet heated and cooled; Three roll‑up doors in the main building; Detached 22‑by‑22‑foot metal building with an 18‑by‑6.6‑inch roll‑up door
