Medical Office Building with Exam
For Sale
Contact for pricing
24 Marks Road, Ocean Springs, MS 39564
Professional healthcare layout includes reception space and multiple exam rooms.
Property Size2,870 SF
Price / SF$191.64
Days on Market189
Property Features for 24 Marks Road
General Information
Standard status
Active
Size
2,870 SF
Total Parking Spaces
50
Property subtype
Office
Zoning
Hwy Commercial District
Building Details
Year Built
1987
Stories
2
Listing Agency:
Coldwell Banker Commercial Alfonso Realty, Inc.
(228) 326-2627
Listed By:
Anne Warren · License #MS S57972
Source:
Crexi
Added: Feb 24
Changed: Aug 31
Last Checked: Aug 31 at 8:39PM
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 Commercial Alfonso Realty, Inc.
Investment Insights
Based on property information with market context.
This 2,870-square-foot medical office building has a reception area, multiple exam rooms, and a configuration suited to organized patient and staff movement. The property previously housed a dermatology clinic, providing a healthcare-oriented interior framework for continued medical office use.
Built in 1987, the building is located at 24 Marks Road in Ocean Springs, just off Bienville Blvd. It is designated within the Hwy Commercial District. The existing layout also supports consideration by dental, specialty care, and other professional office users, subject to applicable requirements.
Built in 1987, the building is located at 24 Marks Road in Ocean Springs, just off Bienville Blvd. It is designated within the Hwy Commercial District. The existing layout also supports consideration by dental, specialty care, and other professional office users, subject to applicable requirements.
Key Highlights
- 2,870‑square‑foot medical office building
- Multiple exam rooms and dedicated reception area
- Previously operated as a dermatology clinic
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
$40,832
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
7.42%
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%
$816,640
$816.6K
Cap Rate 7%
$583,314
$583.3K
Cap Rate 9%
$453,689
$453.7K
Market Conditions
NOI Build-Up for 2,870 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
$68.9K $24.00/SF
− Vacancy
−$14.4K −$5.03/SF
EGI
$54.4K $18.97/SF
− OpEx
−$13.6K −$4.74/SF
NOI
$40.8K $14.23/SF
Area
Jackson County, MS
Vacancy
20.96%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$816,640
Cap Rate 7%
$583,314
Cap Rate 9%
$453,689
Alternative Uses
Best Use
Office B
$583.3K
$510.4K – $680.5K
NOI $40,832 @ 7.0% cap · market cap 7.42%
Second Best
Healthcare Medical
$485.0K
$424.4K – $565.8K
NOI $33,950 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$784.1K
$686.1K – $914.7K
NOI $54,884 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 39564, MS
42,539
Population
18,908
Households
2.2
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
53.3 sq mi
ZIP Area
798
Density / Sq Mi
$77,300
Median Household Income
$43,754
Median Earnings
$1,314
Median Rent
$220,000
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional healthcare layout includes reception space and multiple exam rooms.
Where is this medical office space located?
The property is located at 24 Marks Road Ocean Springs, MS.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,870‑square‑foot medical office building; Multiple exam rooms and dedicated reception area; Previously operated as a dermatology clinic
