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Downtown Restaurant Building
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1223 Government St, Ocean Springs, MS 39564

Restaurant building available in shell condition, previously operated as Phoenicia Gourmet, with potential to divide into two units.

Space Size4,400 SF
Days on Market78

Property Features for 1223 Government St

General Information

Standard status Active
Size 4,400 SF
Property subtype RETAIL

Spaces For Lease

at 1223 Government St Contact us

1223 Government

Floor
1
Size
4,400 SF
Type
RETAIL
Rate
Contact for pricing
Lease Type
NNN
Availability
AVAILABLE
Rare opportunity to join the explosion of business in the heart of Downtown Ocean...
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Listing Agency: T.L. Brown Properties
Listed By: Brandon Brown, CCIM · License #B-18800
Source: Moodyscre
Added: Jun 29 Changed: Sep 11 Last Checked: Sep 13 at 10:53AM

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 T.L. Brown Properties

Investment Insights

Based on property information with market context.

This restaurant building is offered for lease in shell condition, ready for new tenants to complete to their own specifications. The property was previously occupied by the well-known Phoenicia Gourmet restaurant, and the building could be divided into two units.

The property includes dedicated parking on two sides. It is situated on Government St in Downtown Ocean Springs, positioned within an active commercial area.

With the flexibility to support a single operation or two separate units, the space is suitable for a range of restaurant concepts that require tenant-built improvements.

Key Highlights

  • Restaurant building previously operated as Phoenicia Gourmet for decades
  • Offered in shell condition for new tenants to finish out to their exact specs
  • Building can be divided into 2 units

Property Analytics

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Current Use

Phoenicia Gourmet Restaurant Restaurant

Suggested Use

Top Pick Building Supply Electrical Service HVAC Service Parking Lot & Garage Grocery & Convenience Store Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)
Lease Type

Location Intelligence

Trade Area within ½ mile

1,038
Businesses Nearby
Under-served
Demand for This Use

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
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Market

Vacancy Rate% for Retail in South region

7% 2020
6.2% 2021
5.1% 2022
4.8% 2023
4.9% 2024
5.4% 2025
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Similar Off Market Nearby

  • Broome's Inc 1801 Government St, Ocean Springs, MS 39564

Frequently Asked Questions

What type of property is this?
Conventional restaurant - Restaurant building available in shell condition, previously operated as Phoenicia Gourmet, with potential to divide into two units.
Where is this conventional restaurant located?
The property is located at 1223 Government St Ocean Springs, MS.
What are key features of this property?
This property features: Restaurant building previously operated as Phoenicia Gourmet for decades; Offered in shell condition for new tenants to finish out to their exact specs; Building can be divided into 2 units
(601) 955-3737 Call to check price and availability
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