Historic Office
New
For Sale
$625,000
1117 Washington Avenue, Ocean Springs, MS 39564
The freestanding property features tall ceilings, wood and tile floors, and private parking behind the building.
Property Size16,988 SF
Lot Size0.39 Acres
Price / SF$255.73
Days on Market4
Property Features for 1117 Washington Avenue
General Information
Standard status
Active
Size
16,988 SF
Lot size
0.39 Acres
Property subtype
Mixed Use
Zoning
CH
Additional Details
Road Access
Yes
Property Use
Office
Building Details
Building Size
16,988 SF
Year Built
1910
Buildings
1
Listing Agency:
Coldwell Banker Alfonso Realty, Inc.
Listed By:
Kim Ross Bush · License #S42877
(228) 207-2308
Source:
Cbcworldwide
Added: Oct 26
Last Checked: Oct 28 at 4:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Alfonso Realty, Inc.
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Investment Insights
Based on property information with market context.
Built in 1910, this freestanding office property occupies a 0.39-acre lot at Washington Avenue and Bienville Boulevard in Ocean Springs. The building contains approximately 2,444 square feet, with ceilings exceeding 11 feet, wood and tile flooring, and a HardiPlank exterior. A private parking area behind the building is reached from Iberville Drive.
CH zoning and a downtown setting add context for professional office use. Arts and dining destinations, along with Front Beach, are within steps of the property.
CH zoning and a downtown setting add context for professional office use. Arts and dining destinations, along with Front Beach, are within steps of the property.
Key Highlights
- Approximately 2,444 SF building on a 0.39‑acre lot
- Built in 1910; ceilings over 11 feet
- CH zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,771
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$695,420
$695.4K
Cap Rate 7%
$496,729
$496.7K
Cap Rate 9%
$386,344
$386.3K
Market Conditions
NOI Build-Up for 2,444 SF
Gross rent
$58.7K $24.00/SF
− Vacancy
−$12.3K −$5.03/SF
EGI
$46.4K $18.97/SF
− OpEx
−$11.6K −$4.74/SF
NOI
$34.8K $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 Rate 5%
$695,420
Cap Rate 7%
$496,729
Cap Rate 9%
$386,344
Alternative Uses
Best Use
Office B
$496.7K
$434.6K – $579.5K
NOI $34,771 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$667.7K
$584.2K – $779.0K
NOI $46,737 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
896
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - The freestanding property features tall ceilings, wood and tile floors, and private parking behind the building.
Where is this office building located?
The property is located at 1117 Washington Avenue Ocean Springs, MS.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Approximately 2,444 SF building on a 0.39‑acre lot; Built in 1910; ceilings over 11 feet; CH zoning
