Class A Medical Office
2781 Ct Switzer Sr Drive Biloxi, MS 39531
For Sale
Contact for pricing
Four-story, multi-tenant medical office anchored by Memorial Hospital and a three operating room surgery center.
Property Size62,940 SF
Price / SF$249.20
Days on Market53
Property Features for 2781 Ct Switzer Sr Drive
General Information
- Standard status
- Active
- Size
- 62,940 SF
- Property subtype
- Office
Building Details
- Year Built
- 2003
Listing Agency:
Highgate Partners
(770) 913-3900
Listed By:
Andrew Murphy · License #GA 266037
Source:
Crexi
Added: Jun 2
Changed: Jul 10
Last Checked: Jul 23 at 11:33AM
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 Highgate Partners
Investment Insights
Based on property information with market context.
Gulf Coast Medical Tower is a four-story, multi-tenant Class A medical office building totaling 62,940 square feet. The property is presented for sale with 89% leased space in place. Memorial Hospital serves as the primary anchor, occupying 20,923 square feet (32.24% of the gross leasable area) and recently renewing their leases for five years. Gulf Coast Surgery Center occupies 12,350 square feet (12.00% of the gross leasable area) on the first floor, operates under a certificate of need (CON), and includes a state-of-the-art surgery center with three (3) operating rooms.
The building is located in Biloxi, Mississippi, and is positioned between Memorial Hospital’s Gulfport and Biloxi hospital campuses. This healthcare-centered setting is designed to support outpatient services with close proximity to both hospital systems.
For healthcare operators and investors, the tenant mix is anchored by established hospital-affiliated uses, with in-place leases and a recently renewed five-year commitment from Memorial Hospital. Gulf Coast Surgery Center’s first-floor presence and three operating room configuration further reinforce the building’s medical outpatient orientation, offering a practical fit for tenants seeking a coordinated healthcare environment with meaningful existing occupancy.
The building is located in Biloxi, Mississippi, and is positioned between Memorial Hospital’s Gulfport and Biloxi hospital campuses. This healthcare-centered setting is designed to support outpatient services with close proximity to both hospital systems.
For healthcare operators and investors, the tenant mix is anchored by established hospital-affiliated uses, with in-place leases and a recently renewed five-year commitment from Memorial Hospital. Gulf Coast Surgery Center’s first-floor presence and three operating room configuration further reinforce the building’s medical outpatient orientation, offering a practical fit for tenants seeking a coordinated healthcare environment with meaningful existing occupancy.
Key Highlights
- Four‑story, multi‑tenant medical office building totaling 62,940 SF built in 2003
- 89% leased with a multi‑tenant roster
- Anchored by Memorial Hospital; it occupies 20,923 SF (32.24% of GLA) and recently renewed leases for five years
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.32M | $21.00 |
| − Vacancy | −$138.8k | −$2.21 |
| EGI | $1.18M | $18.80 |
| − OpEx | −$473.2k | −$7.52 |
| NOI | $709.8k | $11.28 |
62,940 SF · lease $21.00/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$10.14M
$8.87M – $11.83M
NOI $709,774 @ 7.0% cap · market cap 4.53%
Second Best
Office B
$7.17M
$6.27M – $8.36M
NOI $501,657 @ 7.0% cap · market cap 3.20%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Gulf Coast Physical ...
Physician
Copeland Cook Taylor ...
Law Firm
Gulf Coast Outpatient ...
Medical Clinic
Apogee Plastic Surgery: ...
Physician
Cedar Lake Internal ...
Medical Clinic
Similar Off Market Nearby
- Acosta Veterinary Hospital — 2629 Pass Rd, Biloxi, MS 39531
- Edgewater Veterinary Hospital — 2632 Executive Pl, Biloxi, MS 39531
- Mid South Veterinary Group — 2709 Pass Rd, Biloxi, MS 39531
- Spears Lee DVM — 2709 Pass Rd, Biloxi, MS 39531
FAQs
What type of property is this?
Medical Office Space - Four-story, multi-tenant medical office anchored by Memorial Hospital and a three operating room surgery center.
Where is this medical office space located?
The property is located at 2781 Ct Switzer Sr Drive Biloxi, MS.
What is the asking price?
The asking price for this property is $15,684,438.
What are key features of this property?
This property features: Four‑story, multi‑tenant medical office building totaling 62,940 SF built in 2003; 89% leased with a multi‑tenant roster; Anchored by Memorial Hospital; it occupies 20,923 SF (32.24% of GLA) and recently renewed leases for five years
