Office Building with Exam
For Sale
$445,000
416 E Pass Rd, Gulfport, MS 39507
Office building zoned B-1 with multiple reception areas, exam rooms, and rear parking accessible by a rear door.
Property Size3,300 SF
Price / SF$134.85
Days on Market76
Property Features for 416 E Pass Rd
General Information
Standard status
Active
Size
3,300 SF
Zoning
B-1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,656
Listing Agency:
Coldwell Banker Alfonso Realty-Lorraine Rd
(228) 287-1000
Listed By:
Kathy Elias · License #B14504
(228) 209-4905
Source:
Exprealty
Added: Jun 24
Changed: Sep 4
Last Checked: Sep 6 at 2:16PM
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 Coldwell Banker Alfonso Realty-Lorraine Rd
Investment Insights
Based on property information with market context.
This zoned B-1 office building offers a flexible interior layout that can be arranged as two offices with separate reception areas or configured as one larger office. The building includes a separate reception and waiting area, 2.5 baths, office space, exam rooms that could be converted to additional office space, a shower bath, and storage areas. The attic is plumbed for additional space, and the property also features a single side entrance garage at the rear.
There are more than 11 parking spaces in the rear with rear access via a door, along with a sloping sidewalk designed to support handicapped access from the parking lot to the main office building. The property is described as convenient to shopping and major road access, including the interstate and Highway 90.
Based on its prior use as a dentist office, urgent care medical building, and real estate office, the building is suited for professional office use and may also support medical or related office operations depending on tenant needs and space planning.
There are more than 11 parking spaces in the rear with rear access via a door, along with a sloping sidewalk designed to support handicapped access from the parking lot to the main office building. The property is described as convenient to shopping and major road access, including the interstate and Highway 90.
Based on its prior use as a dentist office, urgent care medical building, and real estate office, the building is suited for professional office use and may also support medical or related office operations depending on tenant needs and space planning.
Key Highlights
- Office building zoned B‑1 with flexible layout for one large office or division into two offices
- Separate reception and waiting area plus additional exam rooms that could be converted to more office space
- Includes 2.5 baths, storage areas, and an attic that is plumbed for additional space
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
$37,214
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
8.36%
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%
$744,280
$744.3K
Cap Rate 7%
$531,629
$531.6K
Cap Rate 9%
$413,489
$413.5K
Market Conditions
NOI Build-Up for 3,300 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
$69.3K $21.00/SF
− Vacancy
−$7.3K −$2.21/SF
EGI
$62.0K $18.80/SF
− OpEx
−$24.8K −$7.52/SF
NOI
$37.2K $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%
$744,280
Cap Rate 7%
$531,629
Cap Rate 9%
$413,489
Alternative Uses
Best Use
Healthcare Medical
$531.6K
$465.2K – $620.2K
NOI $37,214 @ 7.0% cap · market cap 8.36%
Second Best
Office B
$375.7K
$328.8K – $438.4K
NOI $26,302 @ 7.0% cap · market cap 5.91%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
Explore this area
Business Placement
Demographics for 39507, MS
17,724
Population
9,032
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
8.2 sq mi
ZIP Area
2,161
Density / Sq Mi
$49,459
Median Household Income
$37,660
Median Earnings
$1,121
Median Rent
$220,600
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?
Office units - Office building zoned B-1 with multiple reception areas, exam rooms, and rear parking accessible by a rear door.
Where is this office units located?
The property is located at 416 E Pass Rd Gulfport, MS.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Office building zoned B‑1 with flexible layout for one large office or division into two offices; Separate reception and waiting area plus additional exam rooms that could be converted to more office space; Includes 2.5 baths, storage areas, and an attic that is plumbed for additional space
