Class A Medical Office
For Sale
Contact for pricing
2781 Ct Switzer Sr Drive, Biloxi, MS 39531
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 Market147
Property Features for 2781 Ct Switzer Sr Drive
General Information
Standard status
Active
Size
62,940 SF
Class
A
Total Parking Spaces
283
Property subtype
Office
Zoning
General Commercial / Medical Office
Occupancy
89%
Lease Type
NN
Investment Type
Value Add
Net Operating Income
$1,254,755
Building Details
Year Built
2003
Buildings
1
Stories
4
Tenancy
Multi
Listing Agency:
Highgate Partners
Listed By:
Andrew Murphy · License #GA 266037
(770) 913-3900
Source:
Crexi
Added: Jun 2
Changed: Oct 25
Last Checked: Oct 24 at 4:51PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$709,774
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,195,480
$14.2M
Cap Rate 7%
$10,139,629
$10.1M
Cap Rate 9%
$7,886,378
$7.9M
Market Conditions
NOI Build-Up for 62,940 SF
Gross rent
$1.32M $21.00/SF
− Vacancy
−$138.8K −$2.21/SF
EGI
$1.18M $18.80/SF
− OpEx
−$473.2K −$7.52/SF
NOI
$709.8K $11.28/SF
Area
Harrison County, MS
Vacancy
10.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,195,480
Cap Rate 7%
$10,139,629
Cap Rate 9%
$7,886,378
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
929
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 39531, MS
19,965
Population
9,660
Households
2.1
Avg Household Size
36
Median Age
34%
College-Educated
91%
High-School Grad
6.6 sq mi
ZIP Area
3,025
Density / Sq Mi
$54,599
Median Household Income
$37,293
Median Earnings
$1,066
Median Rent
$193,700
Median Home Value
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- 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
- Acosta Veterinary Hospital — 2629 Pass Rd, Biloxi, MS 39531
Frequently Asked Questions
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
