Unimproved Acreage with Metal
For Sale
$179,000
2213 Hewes Avenue, Gulfport, MS 39507
Front unimproved land and a rear metal building with power used for storage, with two access points.
Property Size44,145 SF
Price / SF$99.44
Days on Market76
Property Features for 2213 Hewes Avenue
General Information
Standard status
Active
Size
44,145 SF
Property subtype
Commercial
Zoning
Residence - Business
Additional Details
Road Access
Yes
Building Details
Building Size
44,145 SF
Stories
1
Construction
metal building
Listing Agency:
South MS Real Estate Solutions
(228) 861-3279
Listed By:
Jeanette Ladner
(228) 861-3279
Source:
Jdanielrealtysells
Added: Jun 9
Changed: Aug 23
Last Checked: Aug 23 at 5:54AM
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
Investment Insights
Based on property information with market context.
This property combines unimproved acreage with an existing metal building at the rear. The front portion is .65 acres of unimproved land, while the back parcel includes a metal building of about 1,800 square feet with power currently being used for storage.
There are two access points to the building: one from 23rd St. and another from an alley on Hewes Ave. The property is currently zoned R-B, with zoning expected to revert back to B-2 in October 2026 if no permits are pulled on these parcels.
Offered for sale as a single tract, the site is positioned for flexible development planning based on the existing land configuration and the presence of the rear warehouse structure.
There are two access points to the building: one from 23rd St. and another from an alley on Hewes Ave. The property is currently zoned R-B, with zoning expected to revert back to B-2 in October 2026 if no permits are pulled on these parcels.
Offered for sale as a single tract, the site is positioned for flexible development planning based on the existing land configuration and the presence of the rear warehouse structure.
Key Highlights
- Over 1 acre on Hewes Ave with front .65 acres unimproved land and a rear metal building.
- Rear metal building is about 1,800 SF with power currently used as storage.
- Two access points: one from 23rd St and one from an alley on Hewes Ave.
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
$12,188
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
6.81%
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%
$243,760
$243.8K
Cap Rate 7%
$174,114
$174.1K
Cap Rate 9%
$135,422
$135.4K
Market Conditions
NOI Build-Up for 1,800 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
$15.6K $8.64/SF
− Vacancy
−$1.2K −$0.67/SF
EGI
$14.3K $7.97/SF
− OpEx
−$2.2K −$1.19/SF
NOI
$12.2K $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%
$243,760
Cap Rate 7%
$174,114
Cap Rate 9%
$135,422
Alternative Uses
Best Use
Warehouse
$174.1K
$152.4K – $203.1K
NOI $12,188 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$290.0K
$253.7K – $338.3K
NOI $20,299 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Front unimproved land and a rear metal building with power used for storage, with two access points.
Where is this commercial land located?
The property is located at 2213 Hewes Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Over 1 acre on Hewes Ave with front .65 acres unimproved land and a rear metal building.; Rear metal building is about 1,800 SF with power currently used as storage.; Two access points: one from 23rd St and one from an alley on Hewes Ave.
