Light Industrial Warehouse with
For Sale
$996,000
21051 Coastal Parkway, Gulfport, MS 39503
Light industrial building includes climate-controlled office space and a warehouse with multiple rollup doors and 16-foot clear height.
Property Size12,062 SF
Lot Size2.30 Acres
Price / SF$82.57
Days on Market150
Property Features for 21051 Coastal Parkway
General Information
Standard status
Active
Size
12,062 SF
Lot size
2.30 Acres
Property subtype
Commercial
Zoning
I-1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Clear Height
16 ft
Amenities
tile flooring
private office space
entry foyer
handicap accessible restroom
remodeled kitchen
climate controlled warehouse observation room
separate compressor room
employee restroom
fenced in concrete area
Building Details
Building Size
12,062 SF
Year Built
2007
Stories
1
Listing Agency:
Coldwell Banker Alfonso Realty-Lorraine Rd
(228) 287-1000
Listed By:
Carl A Larosa · License #S29641
(228) 287-1000
Source:
Jdanielrealtysells
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 23 at 6:39AM
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 Coldwell Banker Alfonso Realty-Lorraine Rd
Investment Insights
Based on property information with market context.
This light industrial property includes a 12,062-square-foot building zoned I-1, situated on 2.3 acres. The building features approximately 1,263 square feet of climate-controlled office space with updated tile flooring, a private office, an entry foyer, a handicap-accessible restroom, and a remodeled kitchen with new cabinets and countertops. An additional climate-controlled warehouse observation room includes a large window.
The warehouse area is equipped with two 25-foot-wide rollup doors and one 12-foot-wide rollup door, with a 16-foot center height. The property also includes a separate compressor room that is plumbed and ready, plus an employee restroom. On-site amenities include ample parking and a fenced-in concrete area, and the property is located just north of Interstate 10 and Love’s Truckstop.
An adjacent 2.1 acres is also available.
The warehouse area is equipped with two 25-foot-wide rollup doors and one 12-foot-wide rollup door, with a 16-foot center height. The property also includes a separate compressor room that is plumbed and ready, plus an employee restroom. On-site amenities include ample parking and a fenced-in concrete area, and the property is located just north of Interstate 10 and Love’s Truckstop.
An adjacent 2.1 acres is also available.
Key Highlights
- 12,062 SF light industrial building zoned I‑1 on 2.3 acres
- Office space totals 1,263 SF and is climate controlled with updated tile flooring, remodeled kitchen, and handicap‑accessible restroom
- Warehouse includes climate‑controlled observation room with large window
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
$81,674
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
8.20%
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%
$1,633,480
$1.6M
Cap Rate 7%
$1,166,771
$1.2M
Cap Rate 9%
$907,489
$907.5K
Market Conditions
NOI Build-Up for 12,062 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
$104.2K $8.64/SF
− Vacancy
−$8.1K −$0.67/SF
EGI
$96.1K $7.97/SF
− OpEx
−$14.4K −$1.19/SF
NOI
$81.7K $6.77/SF
Area
Harrison County, MS
Vacancy
7.80%
Lease Rate
$8.64 /SF/Yr
Expense Ratio
15.00%
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%
$1,633,480
Cap Rate 7%
$1,166,771
Cap Rate 9%
$907,489
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.60M
NOI $96,139 @ 7.0% cap · market cap 9.65%
Second Best
Flex RnD
$1.33M
$1.17M – $1.55M
NOI $93,278 @ 7.0% cap · market cap 9.37%
Theoretical Best
Healthcare Medical
$1.94M
$1.70M – $2.27M
NOI $136,023 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 39503, MS
53,643
Population
22,533
Households
2.4
Avg Household Size
37
Median Age
24%
College-Educated
92%
High-School Grad
114.3 sq mi
ZIP Area
469
Density / Sq Mi
$61,298
Median Household Income
$36,241
Median Earnings
$1,087
Median Rent
$193,000
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?
Flex space - Light industrial building includes climate-controlled office space and a warehouse with multiple rollup doors and 16-foot clear height.
Where is this flex space located?
The property is located at 21051 Coastal Parkway Gulfport, MS.
What is the asking price?
The asking price for this property is $996,000.
What are key features of this property?
This property features: 12,062 SF light industrial building zoned I‑1 on 2.3 acres; Office space totals 1,263 SF and is climate controlled with updated tile flooring, remodeled kitchen, and handicap‑accessible restroom; Warehouse includes climate‑controlled observation room with large window
