Freestanding Restaurant
For Sale
$139,900
4204 15th Street, Gulfport, MS 39501
Commercial Sale, Gulfport, MS
Property Size755 SF
Lot Size0.12 Acres
Price / SF$185.30
Days on Market82
Property Features for 4204 15th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Level, Level
Standard status
Active
APN
0711g-02-015.001
Size
755 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 80 FT OF S 17 FT OF LOT 11 & W 80 FT OF LOT 12 BLK 30 JONESTOWN MCCAUGHAN ADD SEC 5-8-11
Tax Annual Amount
1430
Legal Description
W 80 FT OF S 17 FT OF LOT 11 & W 80 FT OF LOT 12 BLK 30 JONESTOWN MCCAUGHAN ADD SEC 5-8-11
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1984
Floors in Building
1
Flooring type
Tile - Ceramic
Listing Agency:
eAgent Nexus
(228) 400-2555
Listed By:
Keri Burke · License #S50542
(228) 382-0680
Added: Jun 10
Changed: Aug 26
Last Checked: Aug 30 at 11:06PM
MLS# 4152242
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding conventional restaurant property contains 755 square feet on a 0.12-acre parcel. Built in 1984, the building includes open dining space, service areas, and a commercial kitchen equipped with commercial-grade appliances and a subzero refrigerator. Ceramic tile flooring, public water, and public sewer are also in place.
The property is located at 4204 15th Street in Gulfport, near Memorial Hospital at Gulfport and within reach of U.S. Highway 49, 15th Street, and surrounding business districts. The building previously operated as a restaurant and offers existing improvements suited to food-service occupancy. Buyers should verify zoning, permitted uses, and other requirements with the City of Gulfport and applicable authorities.
The property is located at 4204 15th Street in Gulfport, near Memorial Hospital at Gulfport and within reach of U.S. Highway 49, 15th Street, and surrounding business districts. The building previously operated as a restaurant and offers existing improvements suited to food-service occupancy. Buyers should verify zoning, permitted uses, and other requirements with the City of Gulfport and applicable authorities.
Key Highlights
- 755‑square‑foot freestanding building on a 0.12‑acre parcel
- Commercial kitchen with installed commercial‑grade appliances and a subzero refrigerator
- Former restaurant configuration with open dining and service areas
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
$8,423
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
6.02%
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%
$168,460
$168.5K
Cap Rate 7%
$120,329
$120.3K
Cap Rate 9%
$93,589
$93.6K
Market Conditions
NOI Build-Up for 755 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
$12.0K $15.96/SF
− Vacancy
−$819 −$1.09/SF
EGI
$11.2K $14.87/SF
− OpEx
−$2.8K −$3.72/SF
NOI
$8.4K $11.16/SF
Area
Harrison County, MS
Vacancy
6.80%
Lease Rate
$15.96 /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%
$168,460
Cap Rate 7%
$120,329
Cap Rate 9%
$93,589
Alternative Uses
Best Use
Specialty Retail
$120.3K
$105.3K – $140.4K
NOI $8,423 @ 7.0% cap · market cap 6.02%
Second Best
Industrial
$53.9K
$47.2K – $62.9K
NOI $3,772 @ 7.0% cap · market cap 2.70%
Theoretical Best
Healthcare Medical
$121.6K
$106.4K – $141.9K
NOI $8,514 @ 7.0% cap · market cap 6.09%
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
975
Businesses Nearby
7k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
5,580 visits/mo
0.4 miles
Whitney Bank
Shops & Services
1,806 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Buffet — 3300 W Beach Blvd, Gulfport, MS 39501
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing food-service infrastructure includes a commercial kitchen with installed appliances and a subzero refrigerator.
Where is this conventional restaurant located?
The property is located at 4204 15th Street Gulfport, MS.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: 755‑square‑foot freestanding building on a 0.12‑acre parcel; Commercial kitchen with installed commercial‑grade appliances and a subzero refrigerator; Former restaurant configuration with open dining and service areas
