Remodeled Flex Space with
For Sale
$585,000
1621 29th Ave, Gulfport, MS 39501
Remodeled office and showroom areas complement a warehouse with three overhead doors and a mezzanine office.
Property Size8,975 SF
Price / SF$65.18
Days on Market77
Property Features for 1621 29th Ave
General Information
Standard status
Active
Size
8,975 SF
Warehouse & Industrial
Warehouse Space
7,074 SF
Office Build-Out
1,901 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1978
Buildings
1
Building Size
8,975 SF
Listing Agency:
RE/MAX Results In Real Estate, Inc.
Listed By:
Donna Haynes · License #S49593
(228) 861-5668
Source:
Fiorellaavenue
Added: Jul 31
Changed: Oct 5
Last Checked: Oct 7 at 5:43PM
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 RE/MAX Results In Real Estate, Inc.
Investment Insights
Based on property information with market context.
The 8,975-square-foot flex property at 1621 29th Ave includes 1,901 square feet of remodeled office and showroom area with four offices, a showroom featuring hurricane impact-resistant glass, and a kitchen/breakroom. The 7,074-square-foot warehouse provides storage space, three large overhead doors, and a mezzanine with an office, restroom with shower, and additional storage. The HVAC system is approximately one year old, and the building was constructed in 1978.
A vacant 110-by-100-foot lot behind the building extends to 17th St and 30th Ave. The property is in downtown Gulfport, north of the port and two blocks from Hwy 49. Business zoning has been grandfathered; buyers should verify zoning and intended use. The sale includes the building only, with equipment, furnishings, and the business enterprise excluded.
A vacant 110-by-100-foot lot behind the building extends to 17th St and 30th Ave. The property is in downtown Gulfport, north of the port and two blocks from Hwy 49. Business zoning has been grandfathered; buyers should verify zoning and intended use. The sale includes the building only, with equipment, furnishings, and the business enterprise excluded.
Key Highlights
- 8,975‑square‑foot flex property with 1,901 square feet of office/showroom space
- 7,074‑square‑foot warehouse with three large overhead doors
- Remodeled office/showroom area includes four offices and hurricane impact‑resistant glass
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,838
Cap Rate
7.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$896,760
$896.8K
Cap Rate 7%
$640,543
$640.5K
Cap Rate 9%
$498,200
$498.2K
Market Conditions
NOI Build-Up for 8,975 SF
Gross rent
$70.0K $7.80/SF
− Vacancy
−$6.0K −$0.66/SF
EGI
$64.1K $7.14/SF
− OpEx
−$19.2K −$2.14/SF
NOI
$44.8K $5.00/SF
Area
Harrison County, MS
Vacancy
8.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$896,760
Cap Rate 7%
$640,543
Cap Rate 9%
$498,200
Alternative Uses
Best Use
Office B
$1.02M
$894.2K – $1.19M
NOI $71,534 @ 7.0% cap · market cap 12.23%
Second Best
Flex RnD
$991.5K
$867.6K – $1.16M
NOI $69,406 @ 7.0% cap · market cap 11.86%
Theoretical Best
Healthcare Medical
$1.45M
$1.27M – $1.69M
NOI $101,211 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,236
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 39501, MS
22,599
Population
10,565
Households
2.1
Avg Household Size
35
Median Age
13%
College-Educated
78%
High-School Grad
14.4 sq mi
ZIP Area
1,569
Density / Sq Mi
$33,491
Median Household Income
$28,522
Median Earnings
$962
Median Rent
$115,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Remodeled office and showroom areas complement a warehouse with three overhead doors and a mezzanine office.
Where is this flex space located?
The property is located at 1621 29th Ave Gulfport, MS.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 8,975‑square‑foot flex property with 1,901 square feet of office/showroom space; 7,074‑square‑foot warehouse with three large overhead doors; Remodeled office/showroom area includes four offices and hurricane impact‑resistant glass
