Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    615 First Ave Ocean Springs, MS 39564

    Sponsored
    For Lease
    $1,600 /Mo ($21 SF/Yr)

    COMMERCIAL - Ocean Springs, MS

    Type:Office
    Property size:
    900 SF
    Lot size:
    0.28 Acres
    Days on Market:
    93
    Last Refresh:
    Jan 21 at 10:06 am

    Property Features for 615 First Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    APN
    6-02-24-030.000
    Parking features
    Off Street
    Size
    900 SF
    Lot size
    0.28 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1950
    Floors in Building
    1
    Flooring type
    Carpet, Vinyl

    We can help!

    Listing Contact
    Allen A Stanfield
    Allen A Stanfield

    Rain Residential (228) 875-4499 [email protected]

    Listing agent Allen A Stanfield (228) 875-4499 License #S49198

    Listing date Oct 21, 2025

    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.

    Learn more

    Property Insight Report

    Overview

    Office Space in Mixed-Use Hub

    This property is located on Porter Avenue in Ocean Springs and is part of a mixed-use hub. The space is suitable for professional offices, creative studios, or boutique services. The property is zoned CMX-1. The layout includes multiple private offices, a reception area, and a common workspace. It is suitable for a law firm, design studio, counseling practice, or similar professional business. The location is adjacent to The Collective, which features a restaurant, bookstore, wine shop, fitness center, and real estate office. Downtown Ocean Springs and the beach are a short distance away. The lot size is 0.28 acres and the property size is 900 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Springs
    County
    Jackson
    State
    Mississippi
    Longitude
    -88.835023
    Latitude
    30.414235

    Nearby Similar for Lease

    • $1,200 /Mo
      995 SF

      Ocean Springs Office Space Available

      Office space for rent in convenient Ocean Springs location.
      1000 N Halstead Rd Lot, Ocean Springs, MS 39564
      View Details
    • $1,500 /Mo
      1,284 SF

      Retail Space in Ocean Springs

      Retail space available in a busy Ocean Springs location.
      3827 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $9 SF/Yr
      14,137 SF

      Gulf Breeze Plaza Retail Space

      Prime Ocean Springs retail space available. High visibility, great location.
      2200 - 2226 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $18 SF/Yr
      8,000 SF

      Ocean Springs Office Building For Lease

      8,000 SF office building with modern amenities for lease.
      998 North Halstead Rd, Ocean Springs, MS 39564
      View Details
    • $7 SF/Yr
      14,137 SF

      Dynamic Shopping Center on Highway

      Well-kept shopping center with high visibility and ample parking.
      2200-2226 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $9 SF/Yr
      122,918 SF

      Gulf Breeze Plaza: Retail Opportunity

      Prime Ocean Springs Shopping Center Space
      2200 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • Contact for pricing
      15,665 SF

      Ocean Springs Flex Space Available

      Prime Flex Space, 15,665 SF Available
      3100 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $2,000 /Mo

      Updated Condo Near Ocean Springs

      Charming 2-bedroom condo with modern finishes and community amenities.
      114 Ethel Cir, Ocean Springs, MS 39564
      View Details
    • Contact for pricing
      1,392 SF

      Retail Space in Walmart Shadow

      Retail space available in Walmart shadow center with high traffic.
      3907 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $27 SF/Yr
      1,671 SF

      Retail Space in Ocean Springs

      Retail space available for lease in Ocean Springs, MS.
      8230 Tucker Rd, Ocean Springs, MS 39565
      View Details

    FAQs

    What type of property is this?
    Office space - Versatile office space in Ocean Springs' newest mixed-use hub.
    Where is this office space located?
    The property is located at 615 First Ave Ocean Springs, MS.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: - Versatile CMX-1 zoning allows for professional offices, creative studios, or boutique services.; - Located adjacent to The Collective, a vibrant mixed-use development with a restaurant, bookstore, wine shop, fitness center, and real estate office.; - Ideal layout for multiple private offices, reception area, and common workspace.
    (228) 383-5661
    Request Owner's contact information
    615 First Ave Ocean Springs, MS 39564
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    615 First Ave
    Ocean Springs, MS 39564
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    615 First Ave Ocean Springs, MS 39564
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Allen A Stanfield
    Allen A Stanfield
    Real Estate License ID: S49198
    (228) 383-5661
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.