1402 Pass Road Gulfport, MS 39501
COMMERCIAL - Gulfport, MS
- Added:
- Apr 11, 2025
- Days on Market:
- 457
- Last Refresh:
- Jul 10 at 11:06 pm
Property Features for 1402 Pass Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 2
- Rooms
- Bathroom 4, Bathroom 2, Bathroom 3, Bathroom 1
- Parking
- 43
- Window features
- Storm Window(s)
- Standard status
- Pending
- APN
- 0811b-01-019.000
- Size
- 6,699 SF
- Lot size
- 0.76 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- LOTS 1 TO 8 INC & THAT PART OF LOTS 9 TO 11 INC N OF BILOXI-PASS CHRISTIAN ROAD BLK 13 ARLINGTON HEIGHTS
- Tax Annual Amount
- 6348
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1955
- Floors in Building
- 1
- Flooring type
- Tile - Ceramic, Laminate, Carpet
- Roof type
- Flat, Metal, Tar/Gravel
Listing agent Justin S Allen License #B20489 (228) 697-4636
Listing office eAgent Nexus 6616 Washington Ave., Suite D3, Ocean Springs, MS (228) 400-2555
Listing date Apr 11, 2025
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Investment Insights
Based on property information with market context.
The property is described as having exceptional visibility with a traffic count of 11,000 to 15,000 vehicles per day, and it provides 40+ parking spaces. The building is zoned T5 Commercial.
The seller notes the property can be configured as three separate retail/office spaces, with each space having its own exterior doors and parking. Possible seller financing may be available for the right buyer.
Key Highlights
- Commercial office building formerly Elliott Homes headquarters, built in 1955
- Traffic count of 11,000–15,000 vehicles per day with updated 2018 improvements including a newly constructed rear section
- Features 16 private offices plus 6 private cubicle offices, including an XL conference room (16 seats) and other conference spaces (5 to 6–8 seats)
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $94.1k | $14.04 |
| − Vacancy | −$8.0k | −$1.19 |
| EGI | $86.1k | $12.85 |
| − OpEx | −$25.8k | −$3.85 |
| NOI | $60.2k | $8.99 |
