Flex Commercial
New
For Sale
$1,080,000
1306 29th Ave, Gulfport, MS 39501
Commercial building with T6 zoning and a history of winery and vocational school use.
Property Size8,195 SF
Price / SF$131.79
Days on Market2
Property Features for 1306 29th Ave
General Information
Standard status
Active
Size
8,195 SF
Zoning
T6
Building Details
Year Built
1962
Listing Agency:
RE/MAX Choice Properties
Listed By:
Jay E Schroeder · License #B8092
(228) 861-2115
Source:
Fiorellaavenue
Added: Sep 13
Last Checked: Sep 13 at 2:44PM
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 RE/MAX Choice Properties
Investment Insights
Based on property information with market context.
This 8,195-square-foot commercial building was constructed in 1962 and is classified as flex space. The property carries T6 zoning and has previously operated as a winery and as the Crescent School of Gaming and Bartending.
Located at 1306 29th Ave in Gulfport, the building offers an established commercial setting for continued sale or lease consideration. Its prior occupancy history reflects a range of commercial configurations, while the existing zoning provides a defined land-use framework.
Located at 1306 29th Ave in Gulfport, the building offers an established commercial setting for continued sale or lease consideration. Its prior occupancy history reflects a range of commercial configurations, while the existing zoning provides a defined land-use framework.
Key Highlights
- 8,195‑square‑foot commercial building
- T6 zoning
- Built in 1962
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
Flex RnD
$905.3K
$792.2K – $1.06M
NOI $63,374 @ 7.0% cap · market cap 5.87%
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,157
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Catering Creations — 1822 15th St #7, Gulfport, MS 39501
Frequently Asked Questions
What type of property is this?
Flex space - Commercial building with T6 zoning and a history of winery and vocational school use.
Where is this flex space located?
The property is located at 1306 29th Ave 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: 8,195‑square‑foot commercial building; T6 zoning; Built in 1962
