Modern Leased Medical
For Sale
$1,850,000
1511 Bienville Blvd, Ocean Springs, MS 39564
5,500 SF medical building fully leased to Memorial Health System.
Property Size5,500 SF
Price / SF$336.36
Days on Market728
Property Features for 1511 Bienville Blvd
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Office
Zoning
C-H
Building Details
Year Built
2021
Listing Agency:
NAI Rampart Commercial Real Estate Baton Rouge
Listed By:
Dexter Shill
(225) 284-9092
Source:
Lacdb.resimplifi
Added: Oct 10, 2024
Changed: Sep 10
Last Checked: Oct 5 at 2:58PM
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 NAI Rampart Commercial Real Estate Baton Rouge
Investment Insights
Based on property information with market context.
This 5,500-square foot building in Ocean Springs, MS, completed in 2021, is fully leased to Memorial Health System. The property is suitable for medical use. Memorial Health System, a healthcare provider since 1946, operates two hospitals, over 100 physician clinics, outpatient centers, and post-acute services. The property is located near Memorial Hospital and other healthcare facilities, with potential for long-term value appreciation.
Key Highlights
- Fully leased to Memorial Health System, ensuring 100% occupancy.
- 5,500‑square foot modern building completed in 2021, a turnkey investment.
- Located near Memorial Hospital and other key healthcare facilities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,250
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,565,000
$1.6M
Cap Rate 7%
$1,117,857
$1.1M
Cap Rate 9%
$869,444
$869.4K
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$132.0K $24.00/SF
− Vacancy
−$27.7K −$5.03/SF
EGI
$104.3K $18.97/SF
− OpEx
−$26.1K −$4.74/SF
NOI
$78.2K $14.23/SF
Area
Jackson County, MS
Vacancy
20.96%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,565,000
Cap Rate 7%
$1,117,857
Cap Rate 9%
$869,444
Alternative Uses
Best Use
Office B
$1.12M
$978.1K – $1.30M
NOI $78,250 @ 7.0% cap · market cap 4.23%
Second Best
Healthcare Medical
$929.4K
$813.3K – $1.08M
NOI $65,060 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,178 @ 7.0% cap · market cap 5.69%
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
1,140
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39564, MS
42,539
Population
18,908
Households
2.2
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
53.3 sq mi
ZIP Area
798
Density / Sq Mi
$77,300
Median Household Income
$43,754
Median Earnings
$1,314
Median Rent
$220,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 5,500 SF medical building fully leased to Memorial Health System.
Where is this medical office space located?
The property is located at 1511 Bienville Blvd Ocean Springs, MS.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Fully leased to Memorial Health System, ensuring 100% occupancy.; 5,500‑square foot modern building completed in 2021, a turnkey investment.; Located near Memorial Hospital and other key healthcare facilities.
