Midas Auto
For Sale
Contact for pricing
2160 E Pass Rd, Gulfport, MS 39507
Automotive service property with a nearly full 20-year lease term remaining.
Property Size7,830 SF
Price / SF$299.93
Days on Market8
Property Features for 2160 E Pass Rd
General Information
Standard status
Active
Size
7,830 SF
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$155,000
Building Details
Year Built
1987
Tenancy
Single
Listing Agency:
Trinity Real Estate Investment Services
(817) 658-3100
Listed By:
Austin Walsh · License #TX # 817943
Source:
Crexi
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 2:58AM
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 Trinity Real Estate Investment Services
Investment Insights
Based on property information with market context.
This 7,830-square-foot automotive service property was built in 1987 and operates under the Midas name. The existing lease has nearly the full 20-year term remaining, providing a long-duration occupancy arrangement.
The property is located at 2160 E Pass Rd in Gulfport, Mississippi, minutes from the Port of Gulfport and Gulfport-Biloxi International Airport. Its established automotive-use configuration and extended lease term define the property’s core commercial profile.
The property is located at 2160 E Pass Rd in Gulfport, Mississippi, minutes from the Port of Gulfport and Gulfport-Biloxi International Airport. Its established automotive-use configuration and extended lease term define the property’s core commercial profile.
Key Highlights
- 7,830‑square‑foot automotive service property
- Midas‑branded automotive operation
- Nearly full 20‑year lease term remaining
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
$70,412
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
3.00%
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%
$1,408,240
$1.4M
Cap Rate 7%
$1,005,886
$1.0M
Cap Rate 9%
$782,356
$782.4K
Market Conditions
NOI Build-Up for 7,830 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
$109.9K $14.04/SF
− Vacancy
−$9.3K −$1.19/SF
EGI
$100.6K $12.85/SF
− OpEx
−$30.2K −$3.85/SF
NOI
$70.4K $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%
$1,408,240
Cap Rate 7%
$1,005,886
Cap Rate 9%
$782,356
Alternative Uses
Best Use
Retail
$1.01M
$880.2K – $1.17M
NOI $70,412 @ 7.0% cap · market cap 3.00%
Second Best
Industrial
$558.8K
$489.0K – $652.0K
NOI $39,118 @ 7.0% cap · market cap 1.67%
Theoretical Best
Healthcare Medical
$1.26M
$1.10M – $1.47M
NOI $88,299 @ 7.0% cap · market cap 3.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
604
Businesses Nearby
25k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 23%
Shell
Shops & Services
9,567 visits/mo
0.2 miles
Dollar General
Shops & Services
5,607 visits/mo
0.5 miles
Waffle House
Dining
4,156 visits/mo
0.1 miles
Texaco
Shops & Services
4,082 visits/mo
0.2 miles
SUBWAY
Dining
1,716 visits/mo
0.2 miles
Demographics for 39507, MS
17,724
Population
9,032
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
8.2 sq mi
ZIP Area
2,161
Density / Sq Mi
$49,459
Median Household Income
$37,660
Median Earnings
$1,121
Median Rent
$220,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Vice auto and detailing llc — 635 Oakleigh Ave, Gulfport, MS 39507
- Mathers Express Lube — 1628 E Pass Rd, Gulfport, MS 39507
- American Glass Services LLC — 2234 e pass rd, gulfport, ms 39507
- Coast Window Coverings — 2221 E Pass Rd #0, Gulfport, MS 39507
- Irigation shop — 2770 Mission Ln, Biloxi, MS 39531
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive service property with a nearly full 20-year lease term remaining.
Where is this auto shop located?
The property is located at 2160 E Pass Rd Gulfport, MS.
What is the asking price?
The asking price for this property is $2,348,485.
What are key features of this property?
This property features: 7,830‑square‑foot automotive service property; Midas‑branded automotive operation; Nearly full 20‑year lease term remaining
