Mixed-Use Income Property with Vacant
5420 28th Street Gulfport, MS 39501
5420 28th Street, Gulfport, MS, 39501
$735,000
For Sale
$735,000
Thirteen residential units plus a vacant commercial space and non-operating laundry facility, generating $8,700/month in gross rents.
Property Size8,700 SF
Price / SF$84.48
Days on Market56
Property Features for 5420 28th Street
General Information
- Standard status
- Active
- Size
- 8,700 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1979
Listing agency
Coldwell Banker Alfonso Realty-Lorraine Rd
(228) 860-0082
Listed by
Philip J Leblanc · License #S30047
(228) 860-0082
Source
Compass
Added: May 28 Updated: Jul 22 at 3:56AM Checked: Jul 22 at 3:56AM
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 mixed-use income property includes 13 residential units and a vacant commercial space, plus an on-site laundry facility that is currently non-operating. The residential component consists of twelve 2-bedroom/1-bath units and one 1-bedroom studio. The offering also features a vacant 600 SF commercial space and a non-operating laundry, creating immediate areas for income improvement for a new owner.
The portfolio spans two adjacent parcels (5400 and 5420 28th St) and is located directly across from the north entrance of Naval Construction Battalion Center (NCBC) Gulfport. Current gross rents are $8,700/month ($104,400/year). Combined annual property taxes for both parcels total $6,456, with water and dumpster service owner-paid and documented.
The property is zoned commercial/multifamily. Showings are by appointment only, and tenants are not to be disturbed. Buyer to verify all information.
The portfolio spans two adjacent parcels (5400 and 5420 28th St) and is located directly across from the north entrance of Naval Construction Battalion Center (NCBC) Gulfport. Current gross rents are $8,700/month ($104,400/year). Combined annual property taxes for both parcels total $6,456, with water and dumpster service owner-paid and documented.
The property is zoned commercial/multifamily. Showings are by appointment only, and tenants are not to be disturbed. Buyer to verify all information.
Key Highlights
- 13‑unit mixed‑use portfolio (1979) on two adjacent parcels: 5400 & 5420 28th St.
- Unit mix: twelve 2BD/1BA units plus one 1BD studio, with $8,700/month ($104,400/year) in current gross rents.
- Includes a vacant 600 SF commercial space for immediate income potential.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.0k | $11.04 |
| − Vacancy | −$7.6k | −$0.87 |
| EGI | $88.5k | $10.17 |
| − OpEx | −$39.8k | −$4.58 |
| NOI | $48.7k | $5.59 |
8,700 SF · lease $11.04/SF/yr · vacancy 7.90% · expense 45.00%
Alternative Uses
Best Use
Retail
$1.12M
$978.0K – $1.30M
NOI $78,236 @ 7.0% cap · market cap 10.64%
Second Best
Apartment 5plus
$695.0K
$608.2K – $810.9K
NOI $48,653 @ 7.0% cap · market cap 6.62%
Theoretical Best
Healthcare Medical
$1.40M
$1.23M – $1.64M
NOI $98,110 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Thirteen residential units plus a vacant commercial space and non-operating laundry facility, generating $8,700/month in gross rents.
Where is this apartment building located?
The property is located at 5420 28th Street Gulfport, MS.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 13‑unit mixed‑use portfolio (1979) on two adjacent parcels: 5400 & 5420 28th St.; Unit mix: twelve 2BD/1BA units plus one 1BD studio, with $8,700/month ($104,400/year) in current gross rents.; Includes a vacant 600 SF commercial space for immediate income potential.
