Mixed-Use Commercial
New
For Sale
$500,000
18421 28th Street, Long Beach, MS 39560
Commercial Sale, Long Beach, MS
Property Size6,055 SF
Lot Size8.00 Acres
Price / SF$82.58
Days on Market1
Property Features for 18421 28th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C2
Bathrooms
1
Half bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Subdivision
Metes And Bounds
Lot features
Level, City Lot, Rectangular Lot, Many Trees, Partially Wooded, Level, City Lot, Rectangular Lot, Many Trees, Partially Wooded
Elementary school
Wj Quarles
Middle school
Long Beach Middle School
High school
Long Beach High School
Directions
On the south side of 28th Street about halfway between Klondyke Road and Simmons Drive
Standard status
Active
APN
0611b-02-014.000
Size
6,055 SF
Lot size
8.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E 1/2 OF E 1/2 OF NW 1/4 OF NW 1/4 LESS 2 AC IN NE COR SEC. 1-8-12
Tax Annual Amount
3910
Legal Description
E 1/2 OF E 1/2 OF NW 1/4 OF NW 1/4 LESS 2 AC IN NE COR SEC. 1-8-12
Utilities
Utilities
Propane
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1952
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
New Horizons Realty, Inc.
Listed By:
James M Overstreet · License #B17680
(228) 323-0607
Added: Sep 22
Last Checked: Sep 22 at 11:06PM
MLS# 4163272
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.
This 6,055-square-foot block-wall building sits on 8 acres and was built in 1952. The interior includes a large separated room, an open main area, foyer, storage closet, kitchen, pantry, and men's and women's restrooms. Building systems include one rooftop HVAC unit, two central HVAC units, two hanging gas space heaters, a metal roof, and concrete flooring. Asphalt parking extends along the front and side of the structure.
The property fronts a high-traffic connector road at 18421 28th Street in Long Beach, with access to I-10 East through Canal Road and I-10 West through County Farm Road. Approximately the first 250 feet is zoned C-2, while the balance is zoned R-4. Public water and sewer serve the property, and propane is available for utility service. Commercial and residential development across the site would be subject to applicable approvals.
The property fronts a high-traffic connector road at 18421 28th Street in Long Beach, with access to I-10 East through Canal Road and I-10 West through County Farm Road. Approximately the first 250 feet is zoned C-2, while the balance is zoned R-4. Public water and sewer serve the property, and propane is available for utility service. Commercial and residential development across the site would be subject to applicable approvals.
Key Highlights
- 6,055 SF block‑wall commercial building on 8 acres
- Approximately 250 feet zoned C‑2; remainder zoned R‑4
- Access to I‑10 East via Canal Road and I‑10 West via County Farm Road
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 - Block-wall facility with multiple rooms, kitchen, restrooms, parking, and public water and sewer service.
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: 6,055 SF block‑wall commercial building on 8 acres; Approximately 250 feet zoned C‑2; remainder zoned R‑4; Access to I‑10 East via Canal Road and I‑10 West via County Farm Road
