Storefront Property with Two
For Sale
$425,000
240 Courthouse Rd, Gulfport, MS 39507
Occupied commercial building with shared parking and access to major Gulfport transportation corridors.
Property Size3,600 SF
Price / SF$118.06
Days on Market14
Property Features for 240 Courthouse Rd
General Information
Standard status
Active
Size
3,600 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,632
Building Details
Buildings
1
Building Size
3,600 SF
Abandoned
No
Listing Agency:
Crescent Sotheby's International
(228) 697-3714
Listed By:
Holly J Gibbs · License #B22047
(228) 697-3714
Source:
Exprealty
Added: Aug 5
Changed: Aug 16
Last Checked: Aug 18 at 2:06PM
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 Crescent Sotheby's International
Investment Insights
Based on property information with market context.
This occupied storefront property contains approximately 3,600 square feet and is arranged with two entrances along the front of the building. The configuration supports evaluation for professional office, medical, retail, service, or mixed-occupancy use, subject to applicable requirements. Lease information is available to qualified buyers during due diligence.
The property is located at 240 Courthouse Road in Gulfport, with access to Highway 49, I-10, downtown Gulfport, and nearby commercial corridors. Parking is provided through a shared lot with the adjoining property to the south, while property taxes are shared between the two parcels. Showings are available by appointment, and the current tenant should not be disturbed.
The property is located at 240 Courthouse Road in Gulfport, with access to Highway 49, I-10, downtown Gulfport, and nearby commercial corridors. Parking is provided through a shared lot with the adjoining property to the south, while property taxes are shared between the two parcels. Showings are available by appointment, and the current tenant should not be disturbed.
Key Highlights
- 3,600+/- square foot commercial building
- Two front entrances support flexible space configuration
- Currently occupied; lease information available to qualified buyers during due diligence
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
$32,373
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
7.62%
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%
$647,460
$647.5K
Cap Rate 7%
$462,471
$462.5K
Cap Rate 9%
$359,700
$359.7K
Market Conditions
NOI Build-Up for 3,600 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
$50.5K $14.04/SF
− Vacancy
−$4.3K −$1.19/SF
EGI
$46.2K $12.85/SF
− OpEx
−$13.9K −$3.85/SF
NOI
$32.4K $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%
$647,460
Cap Rate 7%
$462,471
Cap Rate 9%
$359,700
Alternative Uses
Best Use
Retail
$462.5K
$404.7K – $539.6K
NOI $32,373 @ 7.0% cap · market cap 7.62%
Second Best
Office B
$409.9K
$358.7K – $478.2K
NOI $28,693 @ 7.0% cap · market cap 6.75%
Theoretical Best
Healthcare Medical
$580.0K
$507.5K – $676.6K
NOI $40,597 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
Under-served
Demand for This Use
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Occupied commercial building with shared parking and access to major Gulfport transportation corridors.
Where is this storefront property located?
The property is located at 240 Courthouse Rd Gulfport, MS.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,600+/- square foot commercial building; Two front entrances support flexible space configuration; Currently occupied; lease information available to qualified buyers during due diligence
