Building Details

Year Built 1975

Listing Agency: Coldwell Banker Alfonso Realty-Lorraine Rd

Listed By: Winnie Nguyen · License #S55667 Show Phone

Source: Fiorellaavenue

Added: Mar 27 Changed: Oct 2 Last Checked: Oct 6 at 12:18AM

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Investment Insights

Based on property information with market context.

This income-producing commercial building is located in Biloxi, near casinos, beaches, and entertainment venues. The property is currently occupied by two tenants: a fully operating restaurant and a beauty supply store. The zoning is neighborhood business. Ample parking space is available, and the adjacent lot is included in the sale, subject to seller approval of the offer. Tenants are responsible for rent and all utilities. The landlord owns all restaurant equipment except for tables, chairs, and decorations. The metal roof was installed in 2023. The AC units and ductwork for both tenants were replaced in June of 2024, along with new spray foam insulation.

Key Highlights

• Income‑producing commercial building with tenants in place (restaurant and beauty supply store)
• Prime location in Biloxi near casinos, beaches, and entertainment
• Recent upgrades: New AC units and ductwork (June 2024), spray foam insulation (June 2024), and metal roof (2023)

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,767

Cap Rate

7.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$575,340 $575.3K

Cap Rate 7%

$410,957 $411.0K

Cap Rate 9%

$319,633 $319.6K

Market Conditions

NOI Build-Up for 3,199 SF

Gross rent

$44.9K $14.04/SF

− Vacancy

−$3.8K −$1.19/SF

EGI

$41.1K $12.85/SF

− OpEx

−$12.3K −$3.85/SF

NOI

$28.8K $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 Rate 5%

$575,340

Cap Rate 7%

$410,957

Cap Rate 9%

$319,633

Alternative Uses

Best Use

Specialty Retail

$509.8K

$446.1K – $594.8K (±1% cap)

NOI $35,688 @ 7.0% cap · market cap 9.65%

Second Best

Retail

$411.0K

$359.6K – $479.5K (±1% cap)

NOI $28,767 @ 7.0% cap · market cap 7.77%

Theoretical Best

Healthcare Medical

$515.4K

$450.9K – $601.3K (±1% cap)

NOI $36,075 @ 7.0% cap · market cap 9.75%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Chick-n-Wang Restaurant ATM Juniors Food ... Atm DW Beauty Supply (Bike/Boat/Book/etc) Store 4 Seasons Seafood ... Restaurant

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Garden Center Storage Facility Electrical Service Catering Service Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

666

Businesses Nearby

5k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Family Dollar Shops & Services

5,207 visits/mo 0.3 miles

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

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Retail space - Income-producing commercial building near casinos, beaches, and entertainment.

Where is this retail space located?

The property is located at 538 Division St Biloxi, MS.

What is the asking price?

The asking price for this property is $370,000.

What are key features of this property?

This property features: Income‑producing commercial building with tenants in place (restaurant and beauty supply store); Prime location in Biloxi near casinos, beaches, and entertainment; Recent upgrades: **New AC units and ductwork (June 2024), spray foam insulation (June 2024), and metal roof (2023)**