Built-Out Medical
For Sale
$5,200,000
3017 13th St, Gulfport, MS 39501
Former surgical and physician-use complex with specialized healthcare infrastructure already installed.
Property Size26,091 SF
Price / SF$199.30
Days on Market137
Property Features for 3017 13th St
General Information
Standard status
Active
Size
26,091 SF
Property subtype
Healthcare
Building Details
Year Built
1974
Listing Agency:
Southeast Commercial of MS, LLC
(228) 276-2700
Listed By:
Monte Luffey · License #13267
(228) 276-2700
Source:
Lacdb.resimplifi
Added: Apr 15
Changed: Aug 28
Last Checked: Aug 29 at 5:45AM
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 Southeast Commercial of MS, LLC
Investment Insights
Based on property information with market context.
This 26,091-square-foot medical center contains an established layout associated with ambulatory surgery and physician office functions. The property is fully built out with purpose-oriented medical infrastructure and specialized systems already in place, supporting a healthcare-focused configuration rather than a basic office layout.
Constructed in 1974, the facility offers a substantial existing improvement package for healthcare operators, health systems, or investors evaluating a medical property. Its combination of surgery-related infrastructure and physician office space provides a defined platform for continued healthcare use, subject to applicable approvals and requirements.
Constructed in 1974, the facility offers a substantial existing improvement package for healthcare operators, health systems, or investors evaluating a medical property. Its combination of surgery-related infrastructure and physician office space provides a defined platform for continued healthcare use, subject to applicable approvals and requirements.
Key Highlights
- 26,091‑square‑foot medical center
- Previously configured for ambulatory surgery and physician offices
- Purpose‑oriented medical infrastructure is already installed
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
$294,228
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
5.66%
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%
$5,884,560
$5.9M
Cap Rate 7%
$4,203,257
$4.2M
Cap Rate 9%
$3,269,200
$3.3M
Market Conditions
NOI Build-Up for 26,091 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
$547.9K $21.00/SF
− Vacancy
−$57.5K −$2.21/SF
EGI
$490.4K $18.80/SF
− OpEx
−$196.2K −$7.52/SF
NOI
$294.2K $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 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%
$5,884,560
Cap Rate 7%
$4,203,257
Cap Rate 9%
$3,269,200
Alternative Uses
Best Use
Healthcare Medical
$4.20M
$3.68M – $4.90M
NOI $294,228 @ 7.0% cap · market cap 5.66%
Second Best
Office B
$2.97M
$2.60M – $3.47M
NOI $207,956 @ 7.0% cap · market cap 4.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,022
Businesses Nearby
Explore this area
Business Placement
Demographics for 39501, MS
22,599
Population
10,565
Households
2.1
Avg Household Size
35
Median Age
13%
College-Educated
78%
High-School Grad
14.4 sq mi
ZIP Area
1,569
Density / Sq Mi
$33,491
Median Household Income
$28,522
Median Earnings
$962
Median Rent
$115,300
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?
Medical center - Former surgical and physician-use complex with specialized healthcare infrastructure already installed.
Where is this medical center located?
The property is located at 3017 13th St Gulfport, MS.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: 26,091‑square‑foot medical center; Previously configured for ambulatory surgery and physician offices; Purpose‑oriented medical infrastructure is already installed
