Three-Building Auto Shop
For Sale
$2,100,000
435517 435-517 E Pass Rd, Gulfport, MS 39507
Three existing buildings occupy a multi-parcel commercial site along Pass Road with additional land for future improvements.
Property Size31,317 SF
Lot Size5.10 Acres
Price / SF$67.06
Days on Market34
Property Features for 435517 435-517 E Pass Rd
General Information
Standard status
Active
Size
31,317 SF
Lot size
5.10 Acres
Site & Location
Traffic Count
22,000 vehicles/day
Road Access
Yes
Additional Details
Land Use
commercial
Building Details
Year Built
1987
Buildings
3
Listing Agency:
Weichert Realtors Gulf Properties
(228) 400-4853
Listed By:
Katherine M Sutton · License #23762
Source:
Fiorellaavenue
Added: Jul 28
Changed: Aug 29
Last Checked: Aug 29 at 3:18PM
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 Weichert Realtors Gulf Properties
Investment Insights
Based on property information with market context.
This auto shop property combines multiple adjacent parcels totaling approximately 5.1 acres with three existing buildings. The improvements provide established structures for current operations, while the remaining land supports additional site planning and expansion. The property was built in 1987 and includes 31,317 in reported property size.
Fronting E Pass Road in Gulfport, the site benefits from an estimated 22,000+ vehicles per day based on AADT. Its Gulf Coast setting places the property minutes from major corridors, shopping, dining, and beaches. The combination of existing buildings, substantial land area, and direct Pass Road positioning creates a flexible commercial layout for an automotive operation or other supported use.
Fronting E Pass Road in Gulfport, the site benefits from an estimated 22,000+ vehicles per day based on AADT. Its Gulf Coast setting places the property minutes from major corridors, shopping, dining, and beaches. The combination of existing buildings, substantial land area, and direct Pass Road positioning creates a flexible commercial layout for an automotive operation or other supported use.
Key Highlights
- Approximately 5.1 acres across multiple adjacent parcels
- Three buildings already in place
- Estimated 22,000+ vehicles per day on Pass Road (AADT)
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
$156,457
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
7.45%
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%
$3,129,140
$3.1M
Cap Rate 7%
$2,235,100
$2.2M
Cap Rate 9%
$1,738,411
$1.7M
Market Conditions
NOI Build-Up for 31,317 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
$244.3K $7.80/SF
− Vacancy
−$20.8K −$0.66/SF
EGI
$223.5K $7.14/SF
− OpEx
−$67.1K −$2.14/SF
NOI
$156.5K $5.00/SF
Area
Harrison County, MS
Vacancy
8.50%
Lease Rate
$7.80 /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%
$3,129,140
Cap Rate 7%
$2,235,100
Cap Rate 9%
$1,738,411
Alternative Uses
Best Use
Retail
$4.02M
$3.52M – $4.69M
NOI $281,622 @ 7.0% cap · market cap 13.41%
Second Best
Industrial
$2.24M
$1.96M – $2.61M
NOI $156,457 @ 7.0% cap · market cap 7.45%
Theoretical Best
Healthcare Medical
$5.05M
$4.41M – $5.89M
NOI $353,162 @ 7.0% cap · market cap 16.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
16k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
9,287 visits/mo
0.1 miles
Family Dollar
Shops & Services
6,837 visits/mo
0.3 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Three existing buildings occupy a multi-parcel commercial site along Pass Road with additional land for future improvements.
Where is this auto shop located?
The property is located at 435517 435-517 E Pass Rd Gulfport, MS.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Approximately 5.1 acres across multiple adjacent parcels; Three buildings already in place; Estimated 22,000+ vehicles per day on Pass Road (AADT)
