Flex Space with Multiple Roll-Up
For Sale
Contact for pricing
198 Main St, Biloxi, MS 39530
Metal flex space on three parcels with roll-up doors and an additional detached metal building.
Property Size6,384 SF
Lot Size0.81 Acres
Price / SF$101.50
Days on Market720
Property Features for 198 Main St
General Information
Standard status
Active
Size
6,384 SF
Lot size
0.81 Acres
Property subtype
RETAIL
Additional Details
Road Access
Yes
Building Details
Buildings
2
Construction
metal
Listing Agency:
Owen and Co. LLC
(228) 822-9870
Listed By:
Sherry Owen · License #B8407
(228) 760-2815
Source:
Moodyscre
Added: Oct 8, 2024
Changed: Sep 27
Last Checked: Sep 26 at 12:58PM
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 and Co. LLC
Investment Insights
Based on property information with market context.
This flex space property includes three parcels on a corner lot at Main St and Esters Blvd (south of RR). The site is approximately 0.81 acres and features a metal flex space-type building with a total building area of 6,384 square feet, including 1,250 square feet heated and cooled. The main building has 3 roll-up doors.
Also on-site is a detached 22'x22' metal building with an 18'x6'.6'' roll-up door. The property has been utilized as an electric auto store for many years.
With multiple structures and roll-up access, the property supports a flexible range of commercial uses consistent with its current automotive-oriented setup.
Also on-site is a detached 22'x22' metal building with an 18'x6'.6'' roll-up door. The property has been utilized as an electric auto store for many years.
With multiple structures and roll-up access, the property supports a flexible range of commercial uses consistent with its current automotive-oriented setup.
Key Highlights
- Three parcels on a corner lot at Main St and Esters Blvd (south of RR)
- Approximately 0.81‑acre site
- Main metal flex building totals 6,384 SF with 1,250 SF heated and cooled
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
$57,409
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
8.86%
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%
$1,148,180
$1.1M
Cap Rate 7%
$820,129
$820.1K
Cap Rate 9%
$637,878
$637.9K
Market Conditions
NOI Build-Up for 6,384 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
$89.6K $14.04/SF
− Vacancy
−$7.6K −$1.19/SF
EGI
$82.0K $12.85/SF
− OpEx
−$24.6K −$3.85/SF
NOI
$57.4K $8.99/SF
Area
Harrison County, MS
Vacancy
8.50%
Lease Rate
$14.04 /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%
$1,148,180
Cap Rate 7%
$820,129
Cap Rate 9%
$637,878
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
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
831
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 39530, MS
8,392
Population
4,533
Households
1.9
Avg Household Size
41
Median Age
18%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
1,865
Density / Sq Mi
$39,755
Median Household Income
$26,222
Median Earnings
$821
Median Rent
$149,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Metal flex space on three parcels with roll-up doors and an additional detached metal building.
Where is this flex space located?
The property is located at 198 Main St 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: Three parcels on a corner lot at Main St and Esters Blvd (south of RR); Approximately 0.81‑acre site; Main metal flex building totals 6,384 SF with 1,250 SF heated and cooled
