Versatile Live-Work Office
For Sale
$210,000
15380 5th Street, Gulfport, MS 39503
COMMERCIAL - Gulfport, MS
Property Size2,182 SF
Lot Size0.14 Acres
Price / SF$96.24
Days on Market288
Property Features for 15380 5th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
6
Directions
From Hwy 49 N, turn right onto 5th Street. Continue straight, place will be on your left.
Standard status
Active
APN
0808l-01-072.000
Size
2,182 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
S 1/2 OF LOTS 6-8 INC BLK 26 GULF & SHIP ISLAND DEV CO SEC 4/9-7-11
Tax Annual Amount
1191
Legal Description
S 1/2 OF LOTS 6-8 INC BLK 26 GULF & SHIP ISLAND DEV CO SEC 4/9-7-11
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1970
Flooring type
Concrete
Roof type
Asphalt
Listing Agency:
Expect Realty · Better Homes and Gardens Real Estate
(228) 215-1861
Listed By:
Blake Nagy · License #S58731
(601) 270-3932
Added: Nov 3, 2025
Changed: Aug 4
Last Checked: Aug 18 at 11:06PM
MLS# 4130194
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 15380 5th Street in Gulfport, Mississippi, this for-sale live-work space provides flexibility for a combined residential and business setup. The property is zoned for both residential and business use and includes a spacious layout within approximately 2,182 square feet, sitting on about 0.14 acres.
The property is positioned in a central part of Gulfport with easy access to major highways and nearby local shopping, dining, and entertainment. For tenants and buyers looking for a single property that can support multiple day-to-day uses, this is a practical option with a footprint that can be adapted to a variety of business or personal objectives.
Schedule a private showing to review the layout and determine how it may fit your live-work or office plans.
The property is positioned in a central part of Gulfport with easy access to major highways and nearby local shopping, dining, and entertainment. For tenants and buyers looking for a single property that can support multiple day-to-day uses, this is a practical option with a footprint that can be adapted to a variety of business or personal objectives.
Schedule a private showing to review the layout and determine how it may fit your live-work or office plans.
Key Highlights
- Zoned for both residential and business use, offering flexibility.
- Prime central Gulfport location with easy access to major highways, shops, dining, and entertainment.
- Excellent visibility and accessibility, ideal for entrepreneurs and businesses.
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
$17,391
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
8.28%
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%
$347,820
$347.8K
Cap Rate 7%
$248,443
$248.4K
Cap Rate 9%
$193,233
$193.2K
Market Conditions
NOI Build-Up for 2,182 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
$28.3K $12.96/SF
− Vacancy
−$5.1K −$2.33/SF
EGI
$23.2K $10.63/SF
− OpEx
−$5.8K −$2.66/SF
NOI
$17.4K $7.97/SF
Area
Harrison County, MS
Vacancy
18.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
25.00%
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%
$347,820
Cap Rate 7%
$248,443
Cap Rate 9%
$193,233
Alternative Uses
Best Use
Office B
$248.4K
$217.4K – $289.9K
NOI $17,391 @ 7.0% cap · market cap 8.28%
Second Best
Mixed Use
$220.9K
$193.3K – $257.8K
NOI $15,465 @ 7.0% cap · market cap 7.36%
Theoretical Best
Healthcare Medical
$351.5K
$307.6K – $410.1K
NOI $24,606 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
616
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Zoned for both residential and business use, this live-work space offers a flexible layout in Gulfport.
Where is this live-work space located?
The property is located at 15380 5th Street Gulfport, MS.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Zoned for both residential and business use, offering flexibility.; Prime central Gulfport location with easy access to major highways, shops, dining, and entertainment.; Excellent visibility and accessibility, ideal for entrepreneurs and businesses.
