Multi-Unit Office
For Sale
$4,250,000
156 Camellia Street, Biloxi, MS 39531
For sale multi-unit office property in Harrison County, suited for businesses seeking dedicated office space.
Property Size15,200 SF
Days on Market86
Property Features for 156 Camellia Street
General Information
Standard status
Active
Size
15,200 SF
Taxes and HOA fees
Annual Taxes
$4,503
Building Details
Building Size
15,200 SF
Year Built
1960
Stories
2
Listing Agency:
eAgent Gulf Coast
(228) 236-5531
Listed By:
Bradley D Keesee
(228) 236-5531
Source:
Evrealestate
Added: May 29
Changed: Aug 8
Last Checked: Aug 22 at 4:02AM
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 eAgent Gulf Coast
Investment Insights
Based on property information with market context.
Offered for sale as a multi-unit office property, this asset provides office unit configurations designed for separate business use. The property is marketed as “Office Units” / “Office Spaces,” supporting tenant-ready office setups.
The property is located at 156 Camellia Street in Biloxi, Mississippi, within Harrison County. This commercial office address provides a straightforward place for office operations and business administration.
Because the building is presented as office units, it may fit a range of professional and administrative tenants looking for individual office space rather than a single, undivided suite. Prospective buyers and tenant representatives can evaluate the unit-by-unit layout during due diligence to confirm how the existing office configurations align with their staffing needs and operating requirements.
The property is located at 156 Camellia Street in Biloxi, Mississippi, within Harrison County. This commercial office address provides a straightforward place for office operations and business administration.
Because the building is presented as office units, it may fit a range of professional and administrative tenants looking for individual office space rather than a single, undivided suite. Prospective buyers and tenant representatives can evaluate the unit-by-unit layout during due diligence to confirm how the existing office configurations align with their staffing needs and operating requirements.
Key Highlights
- Multi‑unit office property in Harrison County
- Built in 1960
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
$121,150
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
2.85%
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%
$2,423,000
$2.4M
Cap Rate 7%
$1,730,714
$1.7M
Cap Rate 9%
$1,346,111
$1.3M
Market Conditions
NOI Build-Up for 15,200 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
$197.0K $12.96/SF
− Vacancy
−$35.5K −$2.33/SF
EGI
$161.5K $10.63/SF
− OpEx
−$40.4K −$2.66/SF
NOI
$121.2K $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%
$2,423,000
Cap Rate 7%
$1,730,714
Cap Rate 9%
$1,346,111
Alternative Uses
Best Use
Office B
$1.73M
$1.51M – $2.02M
NOI $121,150 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.45M
$2.14M – $2.86M
NOI $171,410 @ 7.0% cap · market cap 4.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Explore this area
Business Placement
Demographics for 39531, MS
19,965
Population
9,660
Households
2.1
Avg Household Size
36
Median Age
34%
College-Educated
91%
High-School Grad
6.6 sq mi
ZIP Area
3,025
Density / Sq Mi
$54,599
Median Household Income
$37,293
Median Earnings
$1,066
Median Rent
$193,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - For sale multi-unit office property in Harrison County, suited for businesses seeking dedicated office space.
Where is this office units located?
The property is located at 156 Camellia Street Biloxi, MS.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Multi‑unit office property in Harrison County; Built in 1960
