Storefront Property with Appliance
For Sale
$249,000
308 Santini St, Biloxi, MS 39530
Operating appliance repair and parts business with building improvements and a newly paved parking area.
Property Size1,288 SF
Price / SF$193.32
Days on Market42
Property Features for 308 Santini St
General Information
Standard status
Active
Size
1,288 SF
Additional Details
Business Included
Yes
Building Details
Year Built
1930
Listing Agency:
Fidelis Realty, LLC.
(228) 234-6971
Listed By:
Sandra French Rushing · License #B24422
Source:
Fiorellaavenue
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 6:46PM
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 Fidelis Realty, LLC.
Investment Insights
Based on property information with market context.
This storefront property includes an established appliance repair and parts business that has served the community since 2009. The 1,288-square-foot building was constructed in 1930 and has been partially remodeled, with a new roof and freshly paved parking lot. The property and business are offered together in as-is condition.
Located at 308 Santini St in Biloxi, the property is near Beau Rivage, Keesler Air Force Base, the city’s entertainment district, and major shopping centers. Showings are available by appointment during business hours.
Located at 308 Santini St in Biloxi, the property is near Beau Rivage, Keesler Air Force Base, the city’s entertainment district, and major shopping centers. Showings are available by appointment during business hours.
Key Highlights
- Established appliance repair and parts business serving the community since 2009
- 1,288‑square‑foot storefront property at 308 Santini St
- Partially remodeled building with a new roof
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
$11,582
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
4.65%
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%
$231,640
$231.6K
Cap Rate 7%
$165,457
$165.5K
Cap Rate 9%
$128,689
$128.7K
Market Conditions
NOI Build-Up for 1,288 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
$18.1K $14.04/SF
− Vacancy
−$1.5K −$1.19/SF
EGI
$16.5K $12.85/SF
− OpEx
−$5.0K −$3.85/SF
NOI
$11.6K $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 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%
$231,640
Cap Rate 7%
$165,457
Cap Rate 9%
$128,689
Alternative Uses
Best Use
Retail
$165.5K
$144.8K – $193.0K
NOI $11,582 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$207.5K
$181.6K – $242.1K
NOI $14,525 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
785
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Operating appliance repair and parts business with building improvements and a newly paved parking area.
Where is this storefront property located?
The property is located at 308 Santini St Biloxi, MS.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Established appliance repair and parts business serving the community since 2009; 1,288‑square‑foot storefront property at 308 Santini St; Partially remodeled building with a new roof
