Gulfport Mixed-Use Property For
For Sale
$675,000
5617 GULFPORT BOULEVARD S, Gulfport, FL 33707
Versatile property with commercial/residential zoning and income potential.
Property Size1,851 SF
Lot Size0.15 Acres
Price / SF$364.67
Days on Market514
Property Features for 5617 GULFPORT BOULEVARD S
General Information
Standard status
Active
Size
1,851 SF
Lot size
0.15 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,968
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Central Heating
Electric Heating
Building Details
Year Built
1954
Listing Agency:
GULFPORT REALTY
(727) 289-5500
Listed By:
STACEY PURCELL · License #3218777
(727) 744-0636
Source:
Corcoran
Added: Apr 7, 2025
Changed: Sep 2
Last Checked: Sep 1 at 7:36PM
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 GULFPORT REALTY
Investment Insights
Based on property information with market context.
Located in Gulfport, this property features 4 bedrooms, an office, and 3 bathrooms. It offers road frontage and exposure. Zoned for commercial and residential use, the property allows for mixed-use options, including retail, salon, spa, office, medical office, tattoo parlor, restaurant, daycare, and Airbnb. The front of the property can be used for single-family living or commercial purposes, and it features parking and visibility. The back area contains two 1-bedroom, 1-bathroom Airbnb units, each with its own parking. The property provides the option to establish a business at the front and live in the back, or rent out the back units for income. The building size is 1851 square feet.
Key Highlights
- Zoned for commercial/residential use, offering diverse mixed‑use possibilities.
- Features two separate 1‑bedroom, 1‑bathroom Airbnb units in the back with dedicated parking for income generation.
- Excellent road frontage and high visibility**, ideal for commercial ventures.
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
$28,739
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
4.26%
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%
$574,780
$574.8K
Cap Rate 7%
$410,557
$410.6K
Cap Rate 9%
$319,322
$319.3K
Market Conditions
NOI Build-Up for 1,851 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
$48.2K $26.04/SF
− Vacancy
−$9.9K −$5.34/SF
EGI
$38.3K $20.70/SF
− OpEx
−$9.6K −$5.18/SF
NOI
$28.7K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
Lease Rate
$26.04 /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%
$574,780
Cap Rate 7%
$410,557
Cap Rate 9%
$319,322
Alternative Uses
Best Use
Office B
$410.6K
$359.2K – $479.0K
NOI $28,739 @ 7.0% cap · market cap 4.26%
Second Best
Mixed Use
$328.4K
$287.4K – $383.2K
NOI $22,989 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$481.5K
$421.3K – $561.7K
NOI $33,702 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
815
Businesses Nearby
Explore this area
Business Placement
Demographics for 33707, FL
24,646
Population
16,579
Households
1.5
Avg Household Size
58
Median Age
40%
College-Educated
95%
High-School Grad
5.3 sq mi
ZIP Area
4,650
Density / Sq Mi
$68,560
Median Household Income
$45,513
Median Earnings
$1,512
Median Rent
$344,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile property with commercial/residential zoning and income potential.
Where is this mixed-use property located?
The property is located at 5617 GULFPORT BOULEVARD S Gulfport, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Zoned for commercial/residential use, offering diverse mixed‑use possibilities.; Features **two separate 1‑bedroom, 1‑bathroom Airbnb units** in the back with dedicated parking for income generation.; Excellent road frontage and high visibility**, ideal for commercial ventures.
