Mixed-Use Property with Commercial
New
For Sale
$500,000
18421 28th Street, Long Beach, MS 39560
An 8-acre site combines a substantial commercial building with two zoning designations across the property.
Property Size6,055 SF
Price / SF$82.58
Days on Market4
Property Features for 18421 28th Street
General Information
Standard status
Active
Size
6,055 SF
Property subtype
Commercial
Building Details
Year Built
1952
Listing Agency:
New Horizons Realty, Inc.
Listed By:
James Overstreet · License #mgc.overjj
(228) 323-0607
Source:
Cdgroupusa
Added: Sep 24
Last Checked: Sep 26 at 4:24AM
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 New Horizons Realty, Inc.
Investment Insights
Based on property information with market context.
A 6,055-square-foot block-wall building sits on an 8-acre property. The layout includes a large room at the left entrance and, at the right entrance, a foyer, storage closet, kitchen, pantry, and men’s and women’s restrooms opening to the main area. HVAC includes a rooftop unit, two central units, and two hanging gas space heaters. Asphalt parking runs along the front and side of the building; the existing surface could benefit from an overlay.
The first approximately 250 feet of the property is zoned C-2, with the remainder zoned R-4. The site is along 28th Street in Long Beach, west of the Gulfport–Long Beach line. I-10 East is accessible via Canal Road, and I-10 West via County Farm Road.
The first approximately 250 feet of the property is zoned C-2, with the remainder zoned R-4. The site is along 28th Street in Long Beach, west of the Gulfport–Long Beach line. I-10 East is accessible via Canal Road, and I-10 West via County Farm Road.
Key Highlights
- 8‑acre property with a 6,055‑square‑foot block‑wall building
- First approximately 250 feet zoned C‑2; remainder zoned R‑4
- Rooftop HVAC unit, two central HVAC units, and two hanging gas space heaters
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
$42,915
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
8.58%
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%
$858,300
$858.3K
Cap Rate 7%
$613,071
$613.1K
Cap Rate 9%
$476,833
$476.8K
Market Conditions
NOI Build-Up for 6,055 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
$76.3K $12.60/SF
− Vacancy
−$7.6K −$1.26/SF
EGI
$68.7K $11.34/SF
− OpEx
−$25.7K −$4.25/SF
NOI
$42.9K $7.09/SF
Area
Harrison County, MS
Vacancy
10.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
37.50%
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%
$858,300
Cap Rate 7%
$613,071
Cap Rate 9%
$476,833
Alternative Uses
Best Use
Mixed Use
$613.1K
$536.4K – $715.3K
NOI $42,915 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$975.5K
$853.5K – $1.14M
NOI $68,282 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Explore this area
Business Placement
Demographics for 39560, MS
18,611
Population
8,429
Households
2.2
Avg Household Size
41
Median Age
31%
College-Educated
94%
High-School Grad
20.3 sq mi
ZIP Area
917
Density / Sq Mi
$73,090
Median Household Income
$40,000
Median Earnings
$1,196
Median Rent
$210,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - An 8-acre site combines a substantial commercial building with two zoning designations across the property.
Where is this mixed-use property located?
The property is located at 18421 28th Street Long Beach, MS.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 8‑acre property with a 6,055‑square‑foot block‑wall building; First approximately 250 feet zoned C‑2; remainder zoned R‑4; Rooftop HVAC unit, two central HVAC units, and two hanging gas space heaters
