Two-Tenant Retail
For Sale
$370,000
538 Division Street, Biloxi, MS 39530
Commercial Sale, Biloxi, MS
Property Size3,199 SF
Lot Size0.28 Acres
Price / SF$115.66
Days on Market599
Property Features for 538 Division Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Neighborhood Business
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 2
Subdivision
Biloxi Real Estate
Standard status
Active
APN
1410g-04-069.000
Size
3,199 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
E 115 FT OF LOTS 20 & 21 BLK 19 BILOXI REAL EST SUBD
Tax Annual Amount
2928
Legal Description
E 115 FT OF LOTS 20 & 21 BLK 19 BILOXI REAL EST SUBD
Building Details
Year built
1975
Listing Agency:
Coldwell Banker Alfonso Realty-Lorraine Rd · Coldwell Banker Real Estate
(228) 287-1000
Listed By:
Winnie Nguyen · License #S55667
(228) 243-1050
Added: Feb 17, 2025
Changed: Oct 8
Last Checked: Oct 9 at 3:06AM
MLS# 4104043
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 3,199-square-foot retail building contains two tenant spaces: an operating restaurant and a beauty supply store. The landlord owns the restaurant equipment, excluding the tables, chairs, and decorations. Both suites are occupied, and tenants pay rent and all utilities. On-site parking serves the property, while the adjacent lot may be included with seller approval of an offer.
The building was constructed in 1975 and sits on a 0.28-acre parcel in a neighborhood business zone. Recent improvements include a metal roof installed in 2023, replacement of the AC units and ductwork for both tenants in June 2024, and new spray foam insulation. The property is located in Biloxi near casinos, beaches, and entertainment.
The building was constructed in 1975 and sits on a 0.28-acre parcel in a neighborhood business zone. Recent improvements include a metal roof installed in 2023, replacement of the AC units and ductwork for both tenants in June 2024, and new spray foam insulation. The property is located in Biloxi near casinos, beaches, and entertainment.
Key Highlights
- 3,199‑square‑foot retail building with two tenant spaces
- Operating restaurant and beauty supply store occupy the property
- Metal roof installed in 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
NOI $35,688 @ 7.0% cap · market cap 9.65%
Second Best
Retail
$411.0K
$359.6K – $479.5K
NOI $28,767 @ 7.0% cap · market cap 7.77%
Theoretical Best
Healthcare Medical
$515.4K
$450.9K – $601.3K
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
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
407
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
0.2 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Retail property with an operating restaurant, beauty supply store, landlord-owned restaurant equipment, and on-site parking.
Where is this retail space located?
The property is located at 538 Division Street 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: 3,199‑square‑foot retail building with two tenant spaces; Operating restaurant and beauty supply store occupy the property; Metal roof installed in 2023
