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 Market54
Property Features for 240 Courthouse Rd
General Information
Standard status
Active
Size
3,600 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1960
Buildings
1
Building Size
3,600 SF
Abandoned
No
Listing Agency:
Crescent Sotheby's International
Listed By:
Holly J Gibbs · License #B22047
(228) 697-3714
Source:
Fiorellaavenue
Added: Aug 15
Changed: Oct 7
Last Checked: Oct 5 at 11:24PM
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 / Yr
$32,373
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
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
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 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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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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
