Updated Flex Industrial
For Sale
$996,000
21051 Coastal Parkway, Gulfport, MS 39503
Commercial Sale, Gulfport, MS
Property Size12,062 SF
Lot Size2.30 Acres
Price / SF$82.57
Days on Market151
Property Features for 21051 Coastal Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Window features
Double Pane Windows, Insulated Windows
Accessibility
Accessible Approach with Ramp
Lot features
Level, Rectangular Lot, Level, Rectangular Lot
Standard status
Active
APN
0508-04-001.004
Size
12,062 SF
Lot size
2.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Part of 4.4 AC COM AT NE COR OF SEC S LY ALONG SEC LINE 453.9 FT N 8 8 DGS W 93.9 FT S 3 DGS W 539.3 FT TO POB S 3 DGS W 479.4 FT N 88 DGS W 400.4 FT N 3 DGS E 479. 9 FT N 88 DGS E 400.4 FT TO POB PART OF NE 1/4 OF NE 1/4 OF SE C 4-7-12
Tax Annual Amount
5740
Legal Description
Part of 4.4 AC COM AT NE COR OF SEC S LY ALONG SEC LINE 453.9 FT N 8 8 DGS W 93.9 FT S 3 DGS W 539.3 FT TO POB S 3 DGS W 479.4 FT N 88 DGS W 400.4 FT N 3 DGS E 479. 9 FT N 88 DGS E 400.4 FT TO POB PART OF NE 1/4 OF NE 1/4 OF SE C 4-7-12
Amenities
private office space
entry foyer
handicap accessible restroom
remodeled kitchen
warehouse observation room
large window
rollup doors
compressor room
employee restroom
fenced concrete area
Building Details
Year built
2007
Floors in Building
1
Flooring type
Tile, Concrete
Roof type
Metal
Listing Agency:
Coldwell Banker Alfonso Realty-Lorraine Rd · Coldwell Banker Real Estate
(228) 287-1000
Listed By:
Carl A Larosa · License #S29641
(228) 669-4018
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 24 at 5:06PM
MLS# 4143912
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex industrial property includes a 12,062-square-foot building on 2.3 acres with I-1 light-industrial zoning. The interior combines 1,263 square feet of recently updated climate-controlled office space with private offices, an entry foyer, tile flooring, an accessible restroom, and a remodeled kitchen. A climate-controlled observation room overlooks the warehouse through a large window.
Warehouse improvements include two 25-foot-wide roll-up doors, one 12-foot-wide door, a 16-foot center height, a dedicated compressor room that is plumbed and ready, and a separate employee restroom. The site also provides ample parking and a fenced concrete area. The property is positioned just north of Interstate 10 and near Love’s Truckstop. An adjacent 2.1-acre tract is also available.
Warehouse improvements include two 25-foot-wide roll-up doors, one 12-foot-wide door, a 16-foot center height, a dedicated compressor room that is plumbed and ready, and a separate employee restroom. The site also provides ample parking and a fenced concrete area. The property is positioned just north of Interstate 10 and near Love’s Truckstop. An adjacent 2.1-acre tract is also available.
Key Highlights
- 12,062‑square‑foot building on 2.3 acres
- I‑1 light‑industrial zoning
- 1,263 square feet of recently updated climate‑controlled office space
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
Property Profile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Light-industrial facility combining refreshed office areas with climate-controlled warehouse space and secured exterior work areas.
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‑square‑foot building on 2.3 acres; I‑1 light‑industrial zoning; 1,263 square feet of recently updated climate‑controlled office space
