Former Restaurant Approved for
For Sale
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1644 PASS RD, Biloxi, MS 39531
4,898 SF property approved for gas station repurposing.
Property Size4,898 SF
Price / SF$204.16
Days on Market148
Property Features for 1644 PASS RD
General Information
Standard status
Active
Size
4,898 SF
Property subtype
Retail
Zoning
COMMERCIAL
Investment Type
Redevelopment
Building Details
Year Built
1991
Stories
1
Units
1
Listing Agency:
Latitude Realty
Listed By:
Matthew Carpenter · License #995714587
Source:
Crexi
Added: May 19
Changed: Oct 11
Last Checked: Oct 12 at 8:46PM
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 Latitude Realty
Investment Insights
Based on property information with market context.
This 4,898 square foot property is approved by the city to be repurposed into a gas station. Architectural plans have been created and are being finalized. Previously a McDonald's restaurant, the owner, a gas station developer, is willing to sell the property as is or complete the build. The property is located at 1644 PASS RD, BILOXI, MS 39531.
Key Highlights
- City approved for repurposing to a gas station.
- Architectural plans created and being finalized for gas station conversion.
- Owner is a gas station developer and willing to sell as‑is or complete the build.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,642
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,092,840
$1.1M
Cap Rate 7%
$780,600
$780.6K
Cap Rate 9%
$607,133
$607.1K
Market Conditions
NOI Build-Up for 4,898 SF
Gross rent
$78.2K $15.96/SF
− Vacancy
−$5.3K −$1.09/SF
EGI
$72.9K $14.87/SF
− OpEx
−$18.2K −$3.72/SF
NOI
$54.6K $11.16/SF
Area
Harrison County, MS
Vacancy
6.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,092,840
Cap Rate 7%
$780,600
Cap Rate 9%
$607,133
Alternative Uses
Best Use
Specialty Retail
$780.6K
$683.0K – $910.7K
NOI $54,642 @ 7.0% cap · market cap 5.46%
Second Best
Retail
$629.2K
$550.6K – $734.1K
NOI $44,046 @ 7.0% cap · market cap 4.40%
Theoretical Best
Healthcare Medical
$789.1K
$690.4K – $920.6K
NOI $55,235 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Gas station - 4,898 SF property approved for gas station repurposing.
Where is this gas station located?
The property is located at 1644 PASS RD Biloxi, MS.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: City approved for repurposing to a gas station.; Architectural plans created and being finalized for gas station conversion.; Owner is a gas station developer and willing to sell as‑is or complete the build.
