Building Details

Year Built 2006

Listed By: Terry Show Phone

Added: Nov 19, 2025 Changed: Sep 10

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$6,294

Cap Rate

7.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$125,880 $125.9K

Cap Rate 7%

$89,914 $89.9K

Cap Rate 9%

$69,933 $69.9K

Market Conditions

NOI Build-Up for 1,000 SF

Gross rent

$9.7K $9.72/SF

− Vacancy

−$729 −$0.73/SF

EGI

$9.0K $8.99/SF

− OpEx

−$2.7K −$2.70/SF

NOI

$6.3K $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 Rate 5%

$125,880

Cap Rate 7%

$89,914

Cap Rate 9%

$69,933

Alternative Uses

Best Use

Multifamily LT 5

$89.9K

$78.7K – $104.9K (±1% cap)

NOI $6,294 @ 7.0% cap · market cap 7.77%

Second Best

Apartment 5plus

$79.9K

$69.9K – $93.2K (±1% cap)

NOI $5,592 @ 7.0% cap · market cap 6.90%

Theoretical Best

Healthcare Medical

$161.1K

$141.0K – $188.0K (±1% cap)

NOI $11,277 @ 7.0% cap · market cap 13.92%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Grocery & Convenience Store Big Box & Wholesale Store Furniture & Home Goods Computer & Electronic Repair (Bike/Boat/Book/etc) Store Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,066

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Both residences are offered together in as-is condition with public water and sewer.

Where is this duplex located?

The property is located at 2013 32Nd Ave Gulfport, MS.

What is the asking price?

The asking price for this property is $81,000.