Leased Office Building with
For Sale
$695,975
6200 Washington Avenue, Ocean Springs, MS 39564
Commercial Sale, Ocean Springs, MS
Property Size1,764 SF
Lot Size0.26 Acres
Price / SF$394.54
Days on Market389
Property Features for 6200 Washington Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Neighborhood Commercial Dist.
Parking
8
Standard status
Active
APN
0-74-40-015.000
Size
1,764 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 5 BLK 2 WINDSOR PARK S/D UNIT 2 DB 1324-55 (50 MAP784.18-03)
Tax Annual Amount
3155
Legal Description
LOT 5 BLK 2 WINDSOR PARK S/D UNIT 2 DB 1324-55 (50 MAP784.18-03)
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1967
Floors in Building
1
Flooring type
Tile
Roof type
Metal
Listing Agency:
Weichert Realtors Gulf Properties
(228) 400-4853
Listed By:
Thomas L Reynolds · License #S52647
(228) 617-3048
Added: Aug 6, 2025
Changed: Aug 26
Last Checked: Aug 29 at 3:06AM
MLS# 4121641
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 1,764-square-foot office building, constructed in 1967, is currently leased and includes tile flooring, a metal roof, public water, public sewer, and cable availability. A separate 750-square-foot Quonset hut sits behind the main building, providing additional enclosed space for storage or other supported commercial needs.
The property occupies 0.26 acres at 6200 Washington Avenue in Ocean Springs, Mississippi. Its position between Highway 90 and I-10 places the office along an established business corridor with nearby churches, a gas station, offices, boat sales, and restaurants. The surrounding commercial activity and direct highway connectivity contribute to the property's practical operating context.
The property occupies 0.26 acres at 6200 Washington Avenue in Ocean Springs, Mississippi. Its position between Highway 90 and I-10 places the office along an established business corridor with nearby churches, a gas station, offices, boat sales, and restaurants. The surrounding commercial activity and direct highway connectivity contribute to the property's practical operating context.
Key Highlights
- Currently leased office property at 6200 Washington Avenue
- 1,764 square feet on a 0.26‑acre parcel
- 750 sq ft Quonset hut behind the main office
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
$25,097
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
3.61%
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%
$501,940
$501.9K
Cap Rate 7%
$358,529
$358.5K
Cap Rate 9%
$278,856
$278.9K
Market Conditions
NOI Build-Up for 1,764 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
$42.3K $24.00/SF
− Vacancy
−$8.9K −$5.03/SF
EGI
$33.5K $18.97/SF
− OpEx
−$8.4K −$4.74/SF
NOI
$25.1K $14.23/SF
Area
Jackson County, MS
Vacancy
20.96%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$501,940
Cap Rate 7%
$358,529
Cap Rate 9%
$278,856
Alternative Uses
Best Use
Office B
$358.5K
$313.7K – $418.3K
NOI $25,097 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$481.9K
$421.7K – $562.2K
NOI $33,733 @ 7.0% cap · market cap 4.85%
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
249
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Leased office property with a separate rear structure for storage or additional commercial use.
Where is this office building located?
The property is located at 6200 Washington Avenue Ocean Springs, MS.
What is the asking price?
The asking price for this property is $695,975.
What are key features of this property?
This property features: Currently leased office property at 6200 Washington Avenue; 1,764 square feet on a 0.26‑acre parcel; 750 sq ft Quonset hut behind the main office
