Freestanding Walgreens Drug
For Sale
$4,500,000
1417 E Pass Rd, Gulfport, MS 39507
Absolute NNN lease structure places no landlord responsibilities on ownership.
Property Size14,490 SF
Price / SF$310.56
Days on Market95
Property Features for 1417 E Pass Rd
General Information
Standard status
Active
Size
14,490 SF
Property subtype
Drug Store
Lease Type
Absolute Net
Additional Details
Cap Rate
7.59%
Road Access
Yes
Amenities
Absolute NNN lease | Corporate gaurentee with no landlord responsibilities
75th Percentile National Placer Rank (Placer.ai)
Established Gulf Coast Retail Corridor | Adjacent to Rouses Market, Walmart Neighborhood Market, Handsboro square, Edgewater Mall, and Gulfport Premium Outlets
Building Details
Building Size
14,490 SF
Buildings
1
Tenancy
Single
Listing Agency:
Marcus & Millichap | Memphis
Listed By:
Mickey Davis · License #License(s) MS: 15586
(901) 620-3600
Source:
Marcusmillichap
Added: Aug 1
Changed: Oct 26
Last Checked: Nov 3 at 3:06AM
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 Marcus & Millichap | Memphis
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding Walgreens property at 1417 E Pass Road in Gulfport is occupied under an Absolute NNN lease backed by a corporate guarantee. The structure assigns no landlord responsibilities, supporting a passive ownership profile. The property size is reported as 14,490.
East Pass Road records approximately 20,438 vehicles per day, with access near Cowan Road and MS-605, which carries approximately 16,669 vehicles per day. The surrounding retail area includes Rouses Market, Walmart Neighborhood Market, Handsboro Square, Edgewater Mall, and Gulfport Premium Outlets. Regional employment and activity are supported by the Port of Gulfport, medical facilities, military installations, and Gulfport-Biloxi International Airport.
East Pass Road records approximately 20,438 vehicles per day, with access near Cowan Road and MS-605, which carries approximately 16,669 vehicles per day. The surrounding retail area includes Rouses Market, Walmart Neighborhood Market, Handsboro Square, Edgewater Mall, and Gulfport Premium Outlets. Regional employment and activity are supported by the Port of Gulfport, medical facilities, military installations, and Gulfport-Biloxi International Airport.
Key Highlights
- Freestanding Walgreens at 1417 E Pass Rd, Gulfport, MS 39507
- Absolute NNN lease with corporate guarantee
- No landlord responsibilities under the lease structure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,651
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,233,020
$3.2M
Cap Rate 7%
$2,309,300
$2.3M
Cap Rate 9%
$1,796,122
$1.8M
Market Conditions
NOI Build-Up for 14,490 SF
Gross rent
$231.3K $15.96/SF
− Vacancy
−$15.7K −$1.09/SF
EGI
$215.5K $14.87/SF
− OpEx
−$53.9K −$3.72/SF
NOI
$161.7K $11.16/SF
Area
Harrison County, MS
Vacancy
6.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,233,020
Cap Rate 7%
$2,309,300
Cap Rate 9%
$1,796,122
Alternative Uses
Best Use
Specialty Retail
$2.31M
$2.02M – $2.69M
NOI $161,651 @ 7.0% cap · market cap 3.59%
Second Best
Retail
$1.86M
$1.63M – $2.17M
NOI $130,303 @ 7.0% cap · market cap 2.90%
Theoretical Best
Healthcare Medical
$2.33M
$2.04M – $2.72M
NOI $163,404 @ 7.0% cap · market cap 3.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
223k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 38%
Dining 32%
Shops & Services 27%
Apparel 2%
Rouses Market
Groceries
46,405 visits/mo
0.2 miles
Walmart Neighborhood Market
Groceries
37,299 visits/mo
0.5 miles
McDonald's
Dining
22,355 visits/mo
0.2 miles
Ollie's Bargain Outlet
Shops & Services
16,840 visits/mo
0.1 miles
Dollar Tree
Shops & Services
14,882 visits/mo
0.1 miles
Demographics for 39507, MS
17,724
Population
9,032
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
8.2 sq mi
ZIP Area
2,161
Density / Sq Mi
$49,459
Median Household Income
$37,660
Median Earnings
$1,121
Median Rent
$220,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Plexus Peeps — 118 Woodhaven Dr, Gulfport, MS 39507
- Half Brain Candle Co — 606 Academy Dr, Gulfport, MS 39507
- COVID-19 Drive-Thru Testing at Walgreens — 1417 E Pass Rd, Gulfport, MS 39507
- Walgreens Pharmacy — 1417 E Pass Rd, Gulfport, MS 39507
- Jesse Murphy, Pharm — 1422 E Pass Rd, Gulfport, MS 39507
Frequently Asked Questions
What type of property is this?
Drug store - Absolute NNN lease structure places no landlord responsibilities on ownership.
Where is this drug store located?
The property is located at 1417 E Pass Rd Gulfport, MS.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Freestanding Walgreens at 1417 E Pass Rd, Gulfport, MS 39507; Absolute NNN lease with corporate guarantee; No landlord responsibilities under the lease structure
