Medical Office Building with
For Sale
$334,900
282 Lameuse St, Biloxi, MS 39530
Medical office building featuring a front reception area, four exam rooms, and additional upstairs space with kitchenette and restroom.
Property Size3,200 SF
Price / SF$104.66
Days on Market50
Property Features for 282 Lameuse St
General Information
Standard status
Active
Size
3,200 SF
Zoning
RB
Building Details
Year Built
1960
Stories
2
Listing Agency:
Owen & Co., LLC
Listed By:
Danielle P Owen
(228) 806-9822
Source:
Fiorellaavenue
Added: Jul 27
Changed: Sep 8
Last Checked: Sep 13 at 1:59PM
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 Owen & Co., LLC
Investment Insights
Based on property information with market context.
This medical office building is designed for patient-facing and administrative use, with an entry into a reception/waiting area. The main floor includes four exam rooms, a restroom, and ample storage. Upstairs offers a spacious open-concept area with wainscoting, cabinetry, a kitchenette, and a restroom, along with a private office on the second floor with built-ins and a fireplace.
The property is zoned RB (Regional Business), a district intended to support a broad range of commercial uses, including offices, retail, services, and hospitality. Buyer and buyer’s agent are advised to verify all information.
The layout supports a multi-room clinical component on the main level and flexible office or program space upstairs, with dedicated restroom facilities on both floors and an additional private office with built-ins.
The property is zoned RB (Regional Business), a district intended to support a broad range of commercial uses, including offices, retail, services, and hospitality. Buyer and buyer’s agent are advised to verify all information.
The layout supports a multi-room clinical component on the main level and flexible office or program space upstairs, with dedicated restroom facilities on both floors and an additional private office with built-ins.
Key Highlights
- Zoned RB (Regional Business), a district designed for offices, retail, services, and hospitality uses.
- Front reception/waiting area at entry, with a main floor layout that includes four exam rooms.
- Main floor also offers a restroom and ample storage.
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
$25,505
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%
$510,100
$510.1K
Cap Rate 7%
$364,357
$364.4K
Cap Rate 9%
$283,389
$283.4K
Market Conditions
NOI Build-Up for 3,200 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
$41.5K $12.96/SF
− Vacancy
−$7.5K −$2.33/SF
EGI
$34.0K $10.63/SF
− OpEx
−$8.5K −$2.66/SF
NOI
$25.5K $7.97/SF
Area
Harrison County, MS
Vacancy
18.00%
Lease Rate
$12.96 /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%
$510,100
Cap Rate 7%
$364,357
Cap Rate 9%
$283,389
Alternative Uses
Best Use
Healthcare Medical
$515.5K
$451.1K – $601.4K
NOI $36,086 @ 7.0% cap · market cap 10.78%
Second Best
Office B
$364.4K
$318.8K – $425.1K
NOI $25,505 @ 7.0% cap · market cap 7.62%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 39530, MS
8,392
Population
4,533
Households
1.9
Avg Household Size
41
Median Age
18%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
1,865
Density / Sq Mi
$39,755
Median Household Income
$26,222
Median Earnings
$821
Median Rent
$149,600
Median Home Value
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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?
Medical Office Space - Medical office building featuring a front reception area, four exam rooms, and additional upstairs space with kitchenette and restroom.
Where is this medical office space located?
The property is located at 282 Lameuse St Biloxi, MS.
What is the asking price?
The asking price for this property is $334,900.
What are key features of this property?
This property features: Zoned RB (Regional Business), a district designed for offices, retail, services, and hospitality uses.; Front reception/waiting area at entry, with a main floor layout that includes four exam rooms.; Main floor also offers a restroom and ample storage.
