Zoned Commercial
For Sale
$1,080,000
1306 29th Avenue, Gulfport, MS 39501
COMMERCIAL - Gulfport, MS
Property Size8,195 SF
Lot Size0.40 Acres
Price / SF$131.79
Days on Market299
Property Features for 1306 29th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B2
Parking
26
Subdivision
Gulfport City
Lot features
Corner Lot, Near Beach, Corner Lot, Near Beach
Standard status
Active
APN
0811l-01-016.000
Size
8,195 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
1924
Tax Description
Lots 23 to 26 Blk 176 Original Gpt. & Lots 20 to 22Blk 176 Original Gpt.
Tax Annual Amount
8364
Legal Description
Lots 23 to 26 Blk 176 Original Gpt. & Lots 20 to 22Blk 176 Original Gpt.
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1962
Flooring type
Vinyl
Roof type
Metal
Listing Agency:
RE/MAX Choice Properties · RE/MAX International
(228) 896-3033
Listed By:
Jay E Schroeder · License #B8092
(228) 861-2115
Added: Oct 15, 2025
Changed: Aug 4
Last Checked: Aug 9 at 12:06PM
MLS# 4128743
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 commercial building at 1306 29th Avenue in Gulfport, MS comprises approximately 8,195 square feet on a 0.4-acre lot. The property is zoned T6, described as similar to B2, and it has been used for a winery and later as the Crescent School of Gaming and Bartending.
With a history of operating as both a wine facility and an educational program focused on gaming and bartending, the building’s interior configuration reflects past specialty uses and may be suitable for a range of commercial concepts, subject to applicable requirements.
For sale (and noted as available for lease in the remarks), this is a single, defined commercial facility rather than vacant land, offering an established structure for a new owner or operator to evaluate.
With a history of operating as both a wine facility and an educational program focused on gaming and bartending, the building’s interior configuration reflects past specialty uses and may be suitable for a range of commercial concepts, subject to applicable requirements.
For sale (and noted as available for lease in the remarks), this is a single, defined commercial facility rather than vacant land, offering an established structure for a new owner or operator to evaluate.
Key Highlights
- Prime downtown location with high visibility
- Zoned T6 (similar to B2) offering versatile usage options
- Suitable for retail, services, entertainment, manufacturing, or more
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
$73,695
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
6.82%
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%
$1,473,900
$1.5M
Cap Rate 7%
$1,052,786
$1.1M
Cap Rate 9%
$818,833
$818.8K
Market Conditions
NOI Build-Up for 8,195 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
$115.1K $14.04/SF
− Vacancy
−$9.8K −$1.19/SF
EGI
$105.3K $12.85/SF
− OpEx
−$31.6K −$3.85/SF
NOI
$73.7K $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%
$1,473,900
Cap Rate 7%
$1,052,786
Cap Rate 9%
$818,833
Alternative Uses
Best Use
Retail
$1.05M
$921.2K – $1.23M
NOI $73,695 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.32M
$1.16M – $1.54M
NOI $92,415 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,157
Businesses Nearby
37k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 90%
Shops & Services 10%
McDonald's
Dining
23,852 visits/mo
0.3 miles
SONIC Drive In
Dining
9,181 visits/mo
0.2 miles
Cadence Bank
Shops & Services
2,728 visits/mo
0.2 miles
Firestone Complete Auto Care
Shops & Services
987 visits/mo
0.2 miles
Demographics for 39501, MS
22,599
Population
10,565
Households
2.1
Avg Household Size
35
Median Age
13%
College-Educated
78%
High-School Grad
14.4 sq mi
ZIP Area
1,569
Density / Sq Mi
$33,491
Median Household Income
$28,522
Median Earnings
$962
Median Rent
$115,300
Median Home Value
Market
Vacancy Rate% for Retail 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?
School - Commercial building zoned T6 (similar to B2) with prior winery and gaming/bartending school use.
Where is this school located?
The property is located at 1306 29th Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Prime downtown location with high visibility; Zoned T6 (similar to B2) offering versatile usage options; Suitable for retail, services, entertainment, manufacturing, or more
