Freestanding Retail
For Sale
$425,000
240 Courthouse Road, Gulfport, MS 39507
Commercial Sale, Gulfport, MS
Property Size3,600 SF
Lot Size0.17 Acres
Price / SF$118.06
Days on Market42
Property Features for 240 Courthouse Road
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Half bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Subdivision
Fayers
Lot features
Corner Lot, City Lot, Corner Lot, City Lot
Standard status
Active
APN
0911a-02-091.000
Size
3,600 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEG AT INTER OF E MAR OF COURTHOUSE RD & S MAR OF RAILROAD ST NELY ALONG RAILROAD ST 110.2 FT S 91.2 FT W 106.1 FT TO COURTHOUSE RD NLY ALONG RD 60 FT TO POB PART OF NW1/4 OF NE1/4 OF SEC 1-8-11
Tax Annual Amount
2632
Legal Description
BEG AT INTER OF E MAR OF COURTHOUSE RD & S MAR OF RAILROAD ST NELY ALONG RAILROAD ST 110.2 FT S 91.2 FT W 106.1 FT TO COURTHOUSE RD NLY ALONG RD 60 FT TO POB PART OF NW1/4 OF NE1/4 OF SEC 1-8-11
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Flooring type
Concrete, Tile - Ceramic, Carpet
Roof type
Rolled Hot Mop
Listing Agency:
Crescent Sotheby's International · Sotheby's International Realty
(985) 345-6802
Listed By:
Holly J Gibbs · License #B22047
(228) 697-3714
Added: Aug 4
Changed: Sep 12
Last Checked: Sep 14 at 7:06AM
MLS# 4158196
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 3,600-square-foot storefront building dates to 1960 and includes two front entrances, two bathrooms, and a mix of ceramic tile, carpet, and concrete flooring. The existing layout can accommodate professional office, medical, retail, service, or mixed-occupancy use. The building is currently occupied, with lease details available to qualified buyers during due diligence.
A shared parking lot serves this property and the adjoining parcel to the south, with property taxes shared between the two parcels. Public water and public sewer serve the site. The property is positioned along Courthouse Road with access to Highway 49, I-10, downtown Gulfport, and nearby commercial corridors. The rolled hot-mop roof provides an additional established building feature.
A shared parking lot serves this property and the adjoining parcel to the south, with property taxes shared between the two parcels. Public water and public sewer serve the site. The property is positioned along Courthouse Road with access to Highway 49, I-10, downtown Gulfport, and nearby commercial corridors. The rolled hot-mop roof provides an additional established building feature.
Key Highlights
- 3,600 square feet of storefront commercial space
- Two front entrances support separate or flexible access
- Currently occupied; lease information available to qualified buyers during due diligence
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
$32,373
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
7.62%
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%
$647,460
$647.5K
Cap Rate 7%
$462,471
$462.5K
Cap Rate 9%
$359,700
$359.7K
Market Conditions
NOI Build-Up for 3,600 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
$50.5K $14.04/SF
− Vacancy
−$4.3K −$1.19/SF
EGI
$46.2K $12.85/SF
− OpEx
−$13.9K −$3.85/SF
NOI
$32.4K $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%
$647,460
Cap Rate 7%
$462,471
Cap Rate 9%
$359,700
Alternative Uses
Best Use
Retail
$462.5K
$404.7K – $539.6K
NOI $32,373 @ 7.0% cap · market cap 7.62%
Second Best
Office B
$409.9K
$358.7K – $478.2K
NOI $28,693 @ 7.0% cap · market cap 6.75%
Theoretical Best
Healthcare Medical
$580.0K
$507.5K – $676.6K
NOI $40,597 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39507, MS
17,724
Population
9,032
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
8.2 sq mi
ZIP Area
2,161
Density / Sq Mi
$49,459
Median Household Income
$37,660
Median Earnings
$1,121
Median Rent
$220,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two entrances and shared parking support flexible commercial occupancy near major Gulfport routes.
Where is this storefront property located?
The property is located at 240 Courthouse Road Gulfport, MS.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,600 square feet of storefront commercial space; Two front entrances support separate or flexible access; Currently occupied; lease information available to qualified buyers during due diligence
