Gulfport Commercial Investment
For Sale
Contact for pricing
Pending
15237 Russell Blvd, Gulfport, MS 39503
Versatile commercial property with multiple buildings and income potential.
Property Size4,666 SF
Lot Size0.55 Acres
Days on Market238
Property Features for 15237 Russell Blvd
General Information
Standard status
Pending
Size
4,666 SF
Lot size
0.55 Acres
Property subtype
Retail
Zoning
B4
Occupancy
50%
Building Details
Buildings
2
Listing Agency:
Owen & Co LLC Real Estate
(228) 760-2815
Listed By:
Sherry Owen · License #MS B-8407
Source:
Crexi
Added: Dec 16, 2025
Changed: Aug 8
Last Checked: Jul 24 at 10:45AM
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 Owen & Co LLC Real Estate
Investment Insights
Based on property information with market context.
This commercial investment property in Gulfport, MS, offers multiple buildings and flexible use options on approximately 0.55 acres. The front metal building provides 3,526 square feet and is designed for functionality, featuring five roll-up doors, multiple service bays, a showroom, office space, and a half bath. Previously operated as a window tint business, the layout is suitable for automotive, service, warehouse, or light industrial use. The seller is willing to lease the front building, providing immediate income potential. The rear building, totaling 1,140 square feet, is currently leased, adding stable, existing rental income. Situated between the two buildings is a vacant lot measuring approximately 101’ x 121’, offering space for parking, storage, or future development. With a total of 4,666 square feet, existing tenancy, seller leaseback opportunity, and room for expansion, this property presents an investment opportunity for owner-users or investors seeking diversified income in a single location.
Key Highlights
- Immediate income potential with seller willing to lease the 3,526 sq ft front building.
- Existing rental income from the 1,140 sq ft rear building currently leased to Claw Daddy's.
- Versatile 0.55‑acre property with multiple buildings and flexible use options.
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
$41,960
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
6.01%
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%
$839,200
$839.2K
Cap Rate 7%
$599,429
$599.4K
Cap Rate 9%
$466,222
$466.2K
Market Conditions
NOI Build-Up for 4,666 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
$65.5K $14.04/SF
− Vacancy
−$5.6K −$1.19/SF
EGI
$59.9K $12.85/SF
− OpEx
−$18.0K −$3.85/SF
NOI
$42.0K $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%
$839,200
Cap Rate 7%
$599,429
Cap Rate 9%
$466,222
Alternative Uses
Best Use
Retail
$599.4K
$524.5K – $699.3K
NOI $41,960 @ 7.0% cap · market cap 6.01%
Second Best
Warehouse
$451.3K
$394.9K – $526.6K
NOI $31,594 @ 7.0% cap · market cap 4.53%
Theoretical Best
Healthcare Medical
$751.7K
$657.7K – $877.0K
NOI $52,618 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 39503, MS
53,643
Population
22,533
Households
2.4
Avg Household Size
37
Median Age
24%
College-Educated
92%
High-School Grad
114.3 sq mi
ZIP Area
469
Density / Sq Mi
$61,298
Median Household Income
$36,241
Median Earnings
$1,087
Median Rent
$193,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Versatile commercial property with multiple buildings and income potential.
Where is this retail property located?
The property is located at 15237 Russell Blvd Gulfport, MS.
What is the asking price?
The asking price for this property is $698,000.
What are key features of this property?
This property features: Immediate income potential with seller willing to lease the 3,526 sq ft front building.; Existing rental income from the 1,140 sq ft rear building currently leased to Claw Daddy's.; Versatile 0.55‑acre property with multiple buildings and flexible use options.
