Office Building with Multiple
For Sale
$969,000
10281 Corporate Drive, Gulfport, MS 39503
Commercial Sale, Gulfport, MS
Property Size7,830 SF
Lot Size1.00 Acre
Price / SF$123.75
Days on Market292
Property Features for 10281 Corporate Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Industrial
Bathrooms
3
Half bathrooms
5
Rooms
Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 5
Parking features
Off Street
Accessibility
Accessible Approach with Ramp
Subdivision
Intraplex 10
Lot features
Landscaped, City Lot, Rectangular Lot, Landscaped, City Lot, Rectangular Lot
Standard status
Active
APN
0909a-01-001.049
Size
7,830 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2024
Tax Description
1 AC BEG AT INTER OF SE COR LOT 6 INTRAPLEX 10 PHASE II & W MAR OF CORPORATE DR S 82 DG W 334.2 FT N 140.9 FT N 84 DG E 318.8 FT TO CORPORATE DR SLY ALONG RD 127.5 FT TO POB BEING PART OF LOT 6 OF INTRAPLEX 10 PHASE II
Tax Annual Amount
8604
Legal Description
1 AC BEG AT INTER OF SE COR LOT 6 INTRAPLEX 10 PHASE II & W MAR OF CORPORATE DR S 82 DG W 334.2 FT N 140.9 FT N 84 DG E 318.8 FT TO CORPORATE DR SLY ALONG RD 127.5 FT TO POB BEING PART OF LOT 6 OF INTRAPLEX 10 PHASE II
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2007
Floors in Building
1
Flooring type
Combination, Carpet, Tile
Roof type
Metal
Listing Agency:
Coldwell Banker Alfonso Realty-Lorraine Rd · Coldwell Banker Real Estate
(228) 287-1000
Listed By:
Carl A Larosa · License #S29641
(228) 669-4018
Added: Nov 12, 2025
Changed: Aug 26
Last Checked: Aug 31 at 6:06AM
MLS# 4131308
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.
Located at 10281 Corporate Drive in Gulfport, this 7,830-square-foot office building was constructed in 2007 and features a foyer and reception area at the primary entry, plus three additional entrances. The interior includes 20 individual offices, two conference rooms, a data room, mechanical room, storage room, large employee breakroom, and five ADA-compliant restrooms. Flooring includes carpet, tile, and combination finishes, with an accessible approach and ramp.
The property occupies 1 acre within Intraplex 10 Business Park and is less than a mile from Interstate 10. On-site parking provides 43 spaces for customers and employees. The building has a metal roof, public water, and public sewer, and is zoned I-1 (Planned Industrial District). It is currently occupied and scheduled to be vacant on January 1, 2026. Confirmed showings are conducted during business hours.
The property occupies 1 acre within Intraplex 10 Business Park and is less than a mile from Interstate 10. On-site parking provides 43 spaces for customers and employees. The building has a metal roof, public water, and public sewer, and is zoned I-1 (Planned Industrial District). It is currently occupied and scheduled to be vacant on January 1, 2026. Confirmed showings are conducted during business hours.
Key Highlights
- 7,830‑square‑foot office building on 1 acre
- 20 individual offices, 2 conference rooms, data room, storage, and large employee breakroom
- 5 ADA‑compliant restrooms plus an accessible approach with ramp
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
$62,408
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
6.44%
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%
$1,248,160
$1.2M
Cap Rate 7%
$891,543
$891.5K
Cap Rate 9%
$693,422
$693.4K
Market Conditions
NOI Build-Up for 7,830 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
$101.5K $12.96/SF
− Vacancy
−$18.3K −$2.33/SF
EGI
$83.2K $10.63/SF
− OpEx
−$20.8K −$2.66/SF
NOI
$62.4K $7.97/SF
Area
Harrison County, MS
Vacancy
18.00%
Lease Rate
$12.96 /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%
$1,248,160
Cap Rate 7%
$891,543
Cap Rate 9%
$693,422
Alternative Uses
Best Use
Office B
$891.5K
$780.1K – $1.04M
NOI $62,408 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.26M
$1.10M – $1.47M
NOI $88,299 @ 7.0% cap · market cap 9.11%
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
181
Businesses Nearby
Explore this area
Business Placement
Demographics for 39503, MS
53,643
Population
22,533
Households
2.4
Avg Household Size
37
Median Age
24%
College-Educated
92%
High-School Grad
114.3 sq mi
ZIP Area
469
Density / Sq Mi
$61,298
Median Household Income
$36,241
Median Earnings
$1,087
Median Rent
$193,000
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 - I-1-zoned office property near Interstate 10 with a business-park setting and adaptable interior configuration.
Where is this office building located?
The property is located at 10281 Corporate Drive Gulfport, MS.
What is the asking price?
The asking price for this property is $969,000.
What are key features of this property?
This property features: 7,830‑square‑foot office building on 1 acre; 20 individual offices, 2 conference rooms, data room, storage, and large employee breakroom; 5 ADA‑compliant restrooms plus an accessible approach with ramp
