Renovated Storefront
For Sale
$275,000
828 Pass Road, Gulfport, MS 39501
Commercial Sale, Gulfport, MS
Property Size2,612 SF
Lot Size0.13 Acres
Price / SF$105.28
Days on Market307
Property Features for 828 Pass Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
B2
Bathrooms
2
Half bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1
Subdivision
Metes And Bounds
Directions
From Highway 49: Head south toward the beach, then turn left onto Pass Road. Continue for about 1.5 miles. The property at 828 Pass Road will be on your right. From Cowan Road: Head north or sout
Standard status
Active
APN
0910m-01-028.000
Size
2,612 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
BEG AT NE COR OF LOT 23 & RUN W ALONG N LINE OF LOT 23 70 FT S 74.85 FT TO N MARGIN OF OLD PASS RD NE ALONG OLD PASS RD TO W MARGIN OF AN ALLEY N 46.6 FT TO BEG PART OF LOTS 21 TO 23 BLK 15 MYRTLE SUBD RESURVEY SEC 35-7-11
Tax Annual Amount
2393
Legal Description
BEG AT NE COR OF LOT 23 & RUN W ALONG N LINE OF LOT 23 70 FT S 74.85 FT TO N MARGIN OF OLD PASS RD NE ALONG OLD PASS RD TO W MARGIN OF AN ALLEY N 46.6 FT TO BEG PART OF LOTS 21 TO 23 BLK 15 MYRTLE SUBD RESURVEY SEC 35-7-11
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
new HVAC system
individual power meter
private restroom
large storefront display window
newer roof
Building Details
Year built
1950
Floors in Building
1
Listing Agency:
Coastal Realty Group
(228) 280-8026
Listed By:
Tyler Hoover · License #S60822
(228) 238-4523
Added: Nov 19, 2025
Changed: Sep 21
Last Checked: Sep 22 at 10:06PM
MLS# 4132174
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 renovated storefront property at 828 Pass Road includes three independently configured units. Unit A measures 632 square feet, Unit B measures 982 square feet, and Unit C measures 997 square feet. Each suite has its own HVAC system, power meter, and private restroom. A newer roof and expansive storefront display window add to the building’s physical improvements. Unit B is leased and currently generates rental income.
The property is zoned B-2 (Business District) and is served by public water and public sewer. Its Gulfport location provides access to Interstate I-10 and proximity to Gulfport-Biloxi International Airport. The building shares a common wall with an established neighboring business. The seller also owns the lot immediately behind the property and is open to selling it separately, subject to terms.
The property is zoned B-2 (Business District) and is served by public water and public sewer. Its Gulfport location provides access to Interstate I-10 and proximity to Gulfport-Biloxi International Airport. The building shares a common wall with an established neighboring business. The seller also owns the lot immediately behind the property and is open to selling it separately, subject to terms.
Key Highlights
- Three‑unit storefront configuration with Unit A at 632 sq ft, Unit B at 982 sq ft, and Unit C at 997 sq ft
- Each unit includes new HVAC, an individual power meter, and a private restroom
- Unit B is leased and provides current rental income
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
$23,489
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
8.54%
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%
$469,780
$469.8K
Cap Rate 7%
$335,557
$335.6K
Cap Rate 9%
$260,989
$261.0K
Market Conditions
NOI Build-Up for 2,612 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
$36.7K $14.04/SF
− Vacancy
−$3.1K −$1.19/SF
EGI
$33.6K $12.85/SF
− OpEx
−$10.1K −$3.85/SF
NOI
$23.5K $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%
$469,780
Cap Rate 7%
$335,557
Cap Rate 9%
$260,989
Alternative Uses
Best Use
Retail
$335.6K
$293.6K – $391.5K
NOI $23,489 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$420.8K
$368.2K – $490.9K
NOI $29,456 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
16k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
6,792 visits/mo
0.1 miles
Family Dollar
Shops & Services
4,725 visits/mo
0.2 miles
Chevron
Shops & Services
2,395 visits/mo
0.3 miles
U-Haul
Shops & Services
1,769 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
435 visits/mo
0.1 miles
Demographics for 39501, MS
22,599
Population
10,565
Households
2.1
Avg Household Size
35
Median Age
13%
College-Educated
78%
High-School Grad
14.4 sq mi
ZIP Area
1,569
Density / Sq Mi
$33,491
Median Household Income
$28,522
Median Earnings
$962
Median Rent
$115,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Three separately metered suites with private restrooms and individual HVAC systems in B-2 zoning.
Where is this storefront property located?
The property is located at 828 Pass Road Gulfport, MS.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Three‑unit storefront configuration with Unit A at 632 sq ft, Unit B at 982 sq ft, and Unit C at 997 sq ft; Each unit includes new HVAC, an individual power meter, and a private restroom; Unit B is leased and provides current rental income
