Strip Mall with
For Sale
$1,300,000
12242 Ms-67 Shriners Boulevard, Biloxi, MS 39532
Commercial Sale, Biloxi, MS
Property Size4,500 SF
Lot Size2.00 Acres
Price / SF$288.89
Days on Market405
Property Features for 12242 Ms-67 Shriners Boulevard
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Regional Business
Directions
I-10 to Woolmarket exit north on Shriners Blvd. Property is on the right
Standard status
Active
APN
1108h-01-006.001
Size
4,500 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOTS 2 & 3 MUNRO SUBD SEC 3-7-10
Tax Annual Amount
1548
Legal Description
LOTS 2 & 3 MUNRO SUBD SEC 3-7-10
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2025
Floors in Building
1
Listing Agency:
Coldwell Banker Alfonso Realty-Pascag · Coldwell Banker Real Estate
(228) 769-7777
Listed By:
Ricky L Sutherland · License #7843
(228) 217-0087
Added: Jul 17, 2025
Changed: Aug 19
Last Checked: Aug 25 at 12:06AM
MLS# 4119633
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.
This 2025-built strip mall contains 4,500 square feet on a 2-acre site at 12242 MS-67 Shriners Boulevard in Biloxi. The center is configured with three units: A and B are leased, while Unit C is available and includes a drive-through window.
Public water and public sewer serve the property, with cable available. Its retail-center format provides multiple suites within one commercial building, including an existing drive-through feature that distinguishes Unit C from the balance of the center.
Public water and public sewer serve the property, with cable available. Its retail-center format provides multiple suites within one commercial building, including an existing drive-through feature that distinguishes Unit C from the balance of the center.
Key Highlights
- 2025‑built strip mall on a 2‑acre site
- 4,500 square feet of retail space
- Three units, with A and B currently leased
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
$40,467
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
3.11%
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%
$809,340
$809.3K
Cap Rate 7%
$578,100
$578.1K
Cap Rate 9%
$449,633
$449.6K
Market Conditions
NOI Build-Up for 4,500 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
$63.2K $14.04/SF
− Vacancy
−$5.4K −$1.19/SF
EGI
$57.8K $12.85/SF
− OpEx
−$17.3K −$3.85/SF
NOI
$40.5K $8.99/SF
Area
Harrison County, MS
Vacancy
8.50%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$809,340
Cap Rate 7%
$578,100
Cap Rate 9%
$449,633
Alternative Uses
Best Use
Retail
$578.1K
$505.8K – $674.5K
NOI $40,467 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$725.0K
$634.3K – $845.8K
NOI $50,747 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Explore this area
Business Placement
Demographics for 39532, MS
34,348
Population
15,466
Households
2.2
Avg Household Size
39
Median Age
26%
College-Educated
86%
High-School Grad
82.2 sq mi
ZIP Area
418
Density / Sq Mi
$65,892
Median Household Income
$40,751
Median Earnings
$1,098
Median Rent
$227,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Recently constructed retail center with multiple suites and a drive-through-equipped space.
Where is this strip mall located?
The property is located at 12242 Ms-67 Shriners Boulevard Biloxi, MS.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 2025‑built strip mall on a 2‑acre site; 4,500 square feet of retail space; Three units, with A and B currently leased
