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    1223 Government St Ocean Springs, MS 39564

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    For Sale
    $1,500,000

    Restaurant property in the heart of downtown Ocean Springs.

    Property size:
    4,400 SF
    Lot size:
    0.20 Acres

    Property Features for 1223 Government St

    General Information

    Size
    4,400 SF
    Lot size
    0.20 Acres

    Source: T.L. Brown Properties Agent Brandon Brown, CCIM

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Ocean Springs Restaurant Opportunity

    This property presents a rare acquisition opportunity in the heart of Downtown Ocean Springs. Currently occupied by the established Phoenicia Gourmet restaurant, which has operated at this location for decades, the property benefits from dedicated parking on two sides. The surrounding area is experiencing significant growth, offering the potential to participate in the area's expansion. The property size is 4,400 square feet. Contact agent for existing lease terms and please do not disturb the tenant.
    Insight Report Location Intelligence

    Current Use by Public Records

    Phoenicia Gourmet Restaurant Lebanese Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm 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.

    Similar Places Nearby

    Broome's Inc

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Springs
    County
    Jackson
    State
    Mississippi
    Longitude
    -88.824569
    Latitude
    30.4138086

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    FAQs

    What type of property is this?
    Conventional restaurant - Restaurant property in the heart of downtown Ocean Springs.
    Where is this conventional restaurant located?
    The property is located at 1223 Government St Ocean Springs, MS.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - Prime Downtown Ocean Springs location.; - Property currently houses a well-known, long-established restaurant (Phoenicia Gourmet).; - Dedicated parking on two sides of the property.
    (601) 955-3737
    Request Owner's contact information
    1223 Government St Ocean Springs, MS 39564
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    Ocean Springs, MS 39564
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    Realmo Value Estimation

    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.

    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.

    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
    1223 Government St Ocean Springs, MS 39564
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