Commercial Duplex With Vacant
For Sale
$199,999
1904 22nd Avenue, Gulfport, MS 39501
COMMERCIAL - Gulfport, MS
Property Size1,754 SF
Lot Size0.19 Acres
Price / SF$114.02
Days on Market279
Property Features for 1904 22nd Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 1
Subdivision
Gulfport City
Lot features
City Lot, City Lot
High school
Gulfport
Standard status
Active
APN
0811f-01-048.000
Size
1,754 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOTS 15 & 16 BLK 106 ORIGINAL GULFPORT
Tax Annual Amount
1250
Legal Description
LOTS 15 & 16 BLK 106 ORIGINAL GULFPORT
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
2
Flooring type
Hardwood
Roof type
Shingle
Listing Agency:
Southeast Properties
(228) 276-2760
Listed By:
Amanda Cumberland · License #S48867
(228) 806-5048
Added: Nov 16, 2025
Changed: Aug 4
Last Checked: Aug 22 at 3:06AM
MLS# 4132029
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 commercial duplex offers two separate units in a residential-income style configuration, with one unit currently occupied and the second unit available for immediate occupancy. The property is sized at 1,754 square feet and sits on a 0.19-acre lot.
Located at 1904 22nd Avenue in Gulfport, Mississippi 39501 within Harrison County, the building’s duplex layout supports an owner who wants both an occupied unit and a ready-to-lease space. This arrangement can reduce the time between turnovers, since the vacancy is already in place.
For buyers seeking a property that can offset ownership costs through rental income, this duplex provides a straightforward structure: an income-producing unit already in place, plus a second unit that can be leased upon commencement. It may also appeal to business owners who are interested in maintaining an on-site tenant while building a rental stream with the available unit.
Located at 1904 22nd Avenue in Gulfport, Mississippi 39501 within Harrison County, the building’s duplex layout supports an owner who wants both an occupied unit and a ready-to-lease space. This arrangement can reduce the time between turnovers, since the vacancy is already in place.
For buyers seeking a property that can offset ownership costs through rental income, this duplex provides a straightforward structure: an income-producing unit already in place, plus a second unit that can be leased upon commencement. It may also appeal to business owners who are interested in maintaining an on-site tenant while building a rental stream with the available unit.
Key Highlights
- Commercial duplex with 1 unit occupied and the other unit ready for immediate occupancy
- Hardwood flooring
- Natural gas available
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
$11,039
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
5.52%
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%
$220,780
$220.8K
Cap Rate 7%
$157,700
$157.7K
Cap Rate 9%
$122,656
$122.7K
Market Conditions
NOI Build-Up for 1,754 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
$17.0K $9.72/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$15.8K $8.99/SF
− OpEx
−$4.7K −$2.70/SF
NOI
$11.0K $6.29/SF
Area
Harrison County, MS
Vacancy
7.50%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
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%
$220,780
Cap Rate 7%
$157,700
Cap Rate 9%
$122,656
Alternative Uses
Best Use
Multifamily LT 5
$157.7K
$138.0K – $184.0K
NOI $11,039 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$140.1K
$122.6K – $163.5K
NOI $9,809 @ 7.0% cap · market cap 4.90%
Theoretical Best
Healthcare Medical
$282.6K
$247.3K – $329.7K
NOI $19,780 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,372
Businesses Nearby
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit commercial duplex with one occupied unit and a second unit ready for immediate occupancy.
Where is this duplex located?
The property is located at 1904 22nd Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: Commercial duplex with 1 unit occupied and the other unit ready for immediate occupancy; Hardwood flooring; Natural gas available
