Downtown Office
For Sale
$299,999
1904 24th Avenue, Gulfport, MS 39501
COMMERCIAL - Gulfport, MS
Property Size1,886 SF
Lot Size0.10 Acres
Price / SF$159.07
Days on Market165
Property Features for 1904 24th Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Urban Center
Subdivision
Gulfport City
Lot features
City Lot, City Lot
Standard status
Active
APN
0811f-05-013.002
Size
1,886 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 85 FT OF LOTS 15 & 16 BLK 108 ORIGINAL GULFPORT
Tax Annual Amount
1489
Legal Description
W 85 FT OF LOTS 15 & 16 BLK 108 ORIGINAL GULFPORT
Utilities
Utilities
Cable Available
Building Details
Year built
1903
Floors in Building
1
Flooring type
Carpet, Tile
Listing Agency:
Sawyer Real Estate, Inc. Of Ms.
(228) 863-0232
Listed By:
Sandi E Sawyer-Dulaney · License #S22082
(228) 861-4689
Added: Mar 12
Changed: Aug 4
Last Checked: Aug 23 at 4:06AM
MLS# 4142158
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 downtown office building offers a professional interior layout with multiple private offices, a welcoming reception area, a functional kitchen/break area, and abundant dedicated storage throughout the property.
Located in central Gulfport just steps from the Harrison County Courthouse, the building provides convenient street parking directly in front, with additional parking located at the rear.
The property consists of a single office building well suited for a range of professional services, supported by the combination of reception, private office rooms, and on-site storage.
Located in central Gulfport just steps from the Harrison County Courthouse, the building provides convenient street parking directly in front, with additional parking located at the rear.
The property consists of a single office building well suited for a range of professional services, supported by the combination of reception, private office rooms, and on-site storage.
Key Highlights
- 1903‑built downtown Gulfport professional office space
- Multiple private offices plus reception area and kitchen/break area
- Abundant dedicated storage throughout the building
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
$15,032
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
5.01%
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%
$300,640
$300.6K
Cap Rate 7%
$214,743
$214.7K
Cap Rate 9%
$167,022
$167.0K
Market Conditions
NOI Build-Up for 1,886 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
$24.4K $12.96/SF
− Vacancy
−$4.4K −$2.33/SF
EGI
$20.0K $10.63/SF
− OpEx
−$5.0K −$2.66/SF
NOI
$15.0K $7.97/SF
Area
Harrison County, MS
Vacancy
18.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
25.00%
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%
$300,640
Cap Rate 7%
$214,743
Cap Rate 9%
$167,022
Alternative Uses
Best Use
Office B
$214.7K
$187.9K – $250.5K
NOI $15,032 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$303.8K
$265.9K – $354.5K
NOI $21,268 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,378
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Professional office building with multiple private offices, reception area, kitchen-break area, and dedicated storage.
Where is this office building located?
The property is located at 1904 24th Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: 1903‑built downtown Gulfport professional office space; Multiple private offices plus reception area and kitchen/break area; Abundant dedicated storage throughout the building
