Remodeled Office
For Sale
$250,000
2201 Hewes Avenue, Gulfport, MS 39507
B-2 zoning and updated building systems support a range of commercial applications.
Property Size1,665 SF
Price / SF$150.15
Days on Market15
Property Features for 2201 Hewes Avenue
General Information
Standard status
Active
Size
1,665 SF
Zoning
B-2
Additional Details
Corner Location
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$2,049
Building Details
Year Renovated
2021
Buildings
1
Listing Agency:
South MS Real Estate Solutions
Listed By:
Jeanette Ladner
(228) 861-3279
Source:
Exprealty
Added: Oct 20
Changed: Nov 3
Last Checked: Nov 1 at 2:57PM
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 South MS Real Estate Solutions
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Investment Insights
Based on property information with market context.
This 1,665-square-foot office building was remodeled in 2021. Work included a new roof and framing, storefront windows and doors, wiring, air-conditioning units, plumbing fixtures, lighting, and flooring. The property is zoned B-2 and is currently configured for office use.
Situated on a corner lot at 2201 Hewes Avenue in Gulfport, the property has parking. An adjoining 1.05 acres is also available for purchase.
Situated on a corner lot at 2201 Hewes Avenue in Gulfport, the property has parking. An adjoining 1.05 acres is also available for purchase.
Key Highlights
- 1,665‑square‑foot office building
- 2021 improvements include a new roof and framing, storefront windows and doors, wiring, air‑conditioning units, plumbing fixtures, lighting, and flooring
- B‑2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,973
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$299,460
$299.5K
Cap Rate 7%
$213,900
$213.9K
Cap Rate 9%
$166,367
$166.4K
Market Conditions
NOI Build-Up for 1,665 SF
Gross rent
$23.4K $14.04/SF
− Vacancy
−$2.0K −$1.19/SF
EGI
$21.4K $12.85/SF
− OpEx
−$6.4K −$3.85/SF
NOI
$15.0K $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 Rate 5%
$299,460
Cap Rate 7%
$213,900
Cap Rate 9%
$166,367
Alternative Uses
Best Use
Retail
$213.9K
$187.2K – $249.6K
NOI $14,973 @ 7.0% cap · market cap 5.99%
Second Best
Office B
$189.6K
$165.9K – $221.2K
NOI $13,271 @ 7.0% cap · market cap 5.31%
Theoretical Best
Healthcare Medical
$268.2K
$234.7K – $312.9K
NOI $18,776 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - B-2 zoning and updated building systems support a range of commercial applications.
Where is this office building located?
The property is located at 2201 Hewes Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,665‑square‑foot office building; 2021 improvements include a new roof and framing, storefront windows and doors, wiring, air‑conditioning units, plumbing fixtures, lighting, and flooring; B‑2 zoning
