Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Space on Government Street Title is generated by Realmo AI

    201 Walnut Drive, Ocean Springs, MS 39564

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $329,900

    Prime location for office or retail in Ocean Springs.

    Type:Office
    Added:
    Dec 3, 2025
    Days on Market:
    168
    Last Refresh:
    Apr 5 at 8:20 pm

    Property Features for 201 Walnut Drive

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1964

    We can help!

    Listing Contact
    Laura Bolton

    Listing agent Laura Bolton

    Listing office

    Listing date Dec 3, 2025

    Source Cbcworldwide

    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 Laura Bolton

    HighLights

    • Prime location on Government Street within the Golf Cart district.
    • High traffic count for excellent business exposure.
    • Versatile commercial space suitable for office, retail, or medical use.
    • Opportunity to use existing building or construct a new one.
    • Close proximity to Upper Elementary School and Downtown Ocean Springs.
    • Property size of 0.21 acres.

    Overview

    This property presents a rare commercial opportunity on Government Street, situated within the Golf Cart district and in close proximity to Upper Elementary School and Downtown Ocean Springs. The location on Government Street is suitable for various uses, including office space, retail space, or a doctor's office. The property offers the option to utilize the existing building or construct a new one. It benefits from a high traffic count, providing significant exposure for businesses. The property dimensions are approximately 110'x87'x120x79' on a 0.21-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Springs
    County
    Jackson
    State
    Mississippi
    Longitude
    -88.8022
    Latitude
    30.4129

    Nearby Similar for Sale

    • $1,580,000
      9,550 SF

      Ocean Springs Commercial Flex/Industrial Complex

      Commercial flex/industrial complex on 1.17 acres in Ocean Springs.
      995 N Halstead Road, Ocean Springs, MS 39564
      View Details
    • $995,000
      2,330 SF

      Historic Duplex in Downtown Ocean Springs

      Pre-Civil War duplex near Walter Anderson Museum and Front Beach.
      509 Washington Avenue, Ocean Springs, MS 39564
      View Details
    • $327,000
      2,296 SF

      Turnkey Income Property Near Coast

      Fully furnished, renovated income property minutes from downtown Ocean Springs.
      6528 Columbus Circle, Ocean Springs, MS 39564
      View Details
    • $695,975
      1,764 SF

      Commercial Office Space For Sale

      Prime location with tenant in place, great investment opportunity.
      6200 Washington Avenue, Ocean Springs, MS 39564
      View Details
    • $1,350,000
      6,000 SF

      Ocean Springs Retail Opportunity

      Three parcels with a 6,000 SF building for sale.
      6514 Washington Avenue, Ocean Springs, MS 39564
      View Details
    • $784,000
      1,620 SF

      Historic Commercial Structure in Ocean Springs

      Prime downtown location suitable for various commercial uses.
      1705 Government Street, Ocean Springs, MS 39564
      View Details
    • $895,000
      55,321 SF

      Commercial Lot with Retail Store

      1.27-acre commercial lot with retail and storage units.
      4025 Bienville Boulevard, Ocean Springs, MS 39564
      View Details
    • $1,500,000
      4,400 SF

      Downtown Ocean Springs Restaurant Opportunity

      Restaurant property in the heart of downtown Ocean Springs.
      1223 Government St, Ocean Springs, MS
      View Details
    • $599,000
      3,000 SF

      Turnkey Commercial Kitchen with Income

      High-visibility commercial property with kitchen, dining, and income.
      1220 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $1,690,000
      8,000 SF

      Two-Story Office Building For Sale

      8,000 SF office building in Ocean Springs, MS.
      998 N Halstead Road, Ocean Springs, MS 39564
      View Details
    • $895,000

      Commercial Lot with Retail/Storage

      1.27-acre commercial lot with retail and storage operation.
      4025 Bienville Boulevard, Ocean Springs, MS 39564
      View Details
    • $1,850,000
      5,500 SF

      Modern Leased Medical Building

      5,500 SF medical building fully leased to Memorial Health System.
      1511 Bienville Blvd, Ocean Springs, MS 39564
      View Details

    FAQs

    What type of property is this?
    Office units - Prime location for office or retail in Ocean Springs.
    Where is this office units located?
    The property is located at 201 Walnut Drive Ocean Springs, MS.
    What is the asking price?
    The asking price for this property is $329,900.
    What are key features of this property?
    This property features: Prime location on Government Street within the Golf Cart district.; High traffic count for excellent business exposure.; Versatile commercial space suitable for office, retail, or medical use.
    (228) 875-1272
    We can help!
    Listing Contact
    Laura Bolton
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    201 Walnut Drive, Ocean Springs, MS 39564
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!