Two-Story Commercial Conversion
For Sale
$695,000
133 Myrtle St, Biloxi, MS 39530
Two-story property on Myrtle Street zoned for commercial business, with an additional lot behind for parking or expansion.
Property Size3,387 SF
Price / SF$205.20
Days on Market69
Property Features for 133 Myrtle St
General Information
Standard status
Active
Size
3,387 SF
Property subtype
Commercial
Building Details
Year Built
2007
Stories
2
Listing Agency:
Coastal Realty Group
(228) 861-6501
Listed By:
Stacey Butera · License #B25006
Source:
Propertiesnorthms
Added: Jun 25
Changed: Aug 26
Last Checked: Aug 31 at 5:29PM
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 Coastal Realty Group
Investment Insights
Based on property information with market context.
This two-story property at 133 Myrtle St. features 5 bedrooms and 5 bathrooms and is offered as a flexible conversion opportunity. The sellers note it may be adapted for uses such as a bed & breakfast, retail, mixed-use office space, or a wedding and special event venue. A Matterport virtual tour is available to review the existing layout, including the ability to toggle off furnishings for better sightlines.
The City of Biloxi has zoned the entire area for Commercial Business. The remarks state Myrtle Street is within walking distance of Casino Row, the Seafood and Maritime Museum, local restaurants, and St. Michael’s Catholic Church, with the George Ohr Museum and downtown Biloxi described as a short drive away. An additional lot behind the home may be purchased to support additional parking and/or expansion.
The City of Biloxi has zoned the entire area for Commercial Business. The remarks state Myrtle Street is within walking distance of Casino Row, the Seafood and Maritime Museum, local restaurants, and St. Michael’s Catholic Church, with the George Ohr Museum and downtown Biloxi described as a short drive away. An additional lot behind the home may be purchased to support additional parking and/or expansion.
Key Highlights
- Two‑story property on Myrtle Street (Biloxi) zoned for commercial business by the City of Biloxi
- Built in 2007, offering over 2,500 sq ft with 5 bedrooms and 5 bathrooms
- Space can be repurposed for uses such as bed & breakfast, retail, mixed‑use office, or event venue
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
$19,427
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
2.80%
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%
$388,540
$388.5K
Cap Rate 7%
$277,529
$277.5K
Cap Rate 9%
$215,856
$215.9K
Market Conditions
NOI Build-Up for 3,387 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
$46.7K $13.80/SF
− Vacancy
−$5.8K −$1.73/SF
EGI
$40.9K $12.08/SF
− OpEx
−$21.5K −$6.34/SF
NOI
$19.4K $5.74/SF
Area
Harrison County, MS
Vacancy
12.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
52.50%
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%
$388,540
Cap Rate 7%
$277,529
Cap Rate 9%
$215,856
Alternative Uses
Best Use
Hotel Hospitality
$277.5K
$242.8K – $323.8K
NOI $19,427 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$545.6K
$477.4K – $636.6K
NOI $38,195 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39530, MS
8,392
Population
4,533
Households
1.9
Avg Household Size
41
Median Age
18%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
1,865
Density / Sq Mi
$39,755
Median Household Income
$26,222
Median Earnings
$821
Median Rent
$149,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Two-story property on Myrtle Street zoned for commercial business, with an additional lot behind for parking or expansion.
Where is this bed & breakfast located?
The property is located at 133 Myrtle St Biloxi, MS.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two‑story property on Myrtle Street (Biloxi) zoned for commercial business by the City of Biloxi; Built in 2007, offering over 2,500 sq ft with 5 bedrooms and 5 bathrooms; Space can be repurposed for uses such as bed & breakfast, retail, mixed‑use office, or event venue
