Flex Space on Corner
198 Main Street Biloxi, MS 39530
For Sale
$648,000
Corner lot flex space with expansion potential in downtown Biloxi.
Property Size6,384 SF
Lot Size0.81 Acres
Price / SF$101.50
Days on Market658
Property Features for 198 Main Street
General Information
Standard status
Active
Size
6,384 SF
Lot size
0.81 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1974
Listing Agency:
Owen & Co., LLC
(228) 760-2815
Listed By:
Sherry L Owen · License #B8407
(228) 760-2815
Source:
Exitrealty
Added: Oct 9, 2024
Changed: Jul 10
Last Checked: Jul 27 at 5:04AM
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 Owen & Co., LLC
Investment Insights
Based on property information with market context.
This property, situated on the corner of Main St and Esters Blvd south of the railroad, consists of three parcels totaling approximately 0.81 acres. The site is improved with a 6,384-square-foot metal flex space building, featuring 1,250 square feet of heated and cooled area and three roll-up doors. Additionally, there is a detached 22'x22' metal building with an 18'x6.6'' roll-up door. The property has been used as an electric auto store for many years. Located in downtown Biloxi, the property offers room to expand and is suitable for various uses, including a restaurant, sports pub, or auto shop. The surrounding neighborhood has experienced recent commercial growth.
Key Highlights
- Prime corner lot location at Main St and Esters Blvd in a growing downtown area.
- Large 0.81‑acre lot with room for expansion.
- 6,384 sq ft metal flex space building with 1,250 sq ft heated and cooled.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.6k | $14.04 |
| − Vacancy | −$7.6k | −$1.19 |
| EGI | $82.0k | $12.85 |
| − OpEx | −$24.6k | −$3.85 |
| NOI | $57.4k | $8.99 |
6,384 SF · lease $14.04/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$820.1K
$717.6K – $956.8K
NOI $57,409 @ 7.0% cap · market cap 8.86%
Second Best
Flex RnD
$705.3K
$617.1K – $822.8K
NOI $49,369 @ 7.0% cap · market cap 7.62%
Theoretical Best
Healthcare Medical
$1.03M
$899.9K – $1.20M
NOI $71,992 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Valley Services Inc — 2226 Switzer Rd, Gulfport, MS 39507
- Mister Flames 🔥 — 138 Kenmore Ave, Biloxi, MS 39531
- Gotta Lovett Catering and Services — Cafeteria, 2226 Switzer Road In Mississippi Gulf Coast Community College, 2226 Switzer Rd, Gulfport,
Frequently Asked Questions
What type of property is this?
Flex space - Corner lot flex space with expansion potential in downtown Biloxi.
Where is this flex space located?
The property is located at 198 Main Street Biloxi, MS.
What is the asking price?
The asking price for this property is $648,000.
What are key features of this property?
This property features: Prime corner lot location at Main St and Esters Blvd in a growing downtown area.; Large 0.81‑acre lot with room for expansion.; 6,384 sq ft metal flex space building with 1,250 sq ft heated and cooled.
