Retail Investment with New
For Sale
Contact for pricing
602 Division St, Biloxi, MS 35390
For sale retail property with a 9% cap rate, 30+ year operating history, and a brand-new roof with warranty.
Property Size7,980 SF
Price / SF$111.11
Days on Market150
Property Features for 602 Division St
General Information
Standard status
Active
Size
7,980 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$79,800
Additional Details
Cap Rate
9%
Building Details
Year Built
1989
Tenancy
Single
Listing Agency:
CBRE - Philadelphia Suburban
Listed By:
Matthew Gorman · License #PA RS287470
(484) 567-2340
Source:
Crexi
Added: Apr 13
Changed: Aug 14
Last Checked: Sep 8 at 5:06AM
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 CBRE - Philadelphia Suburban
Investment Insights
Based on property information with market context.
This for-sale retail investment offers a long track record of operations, supported by 30+ years of operating history. The property is positioned as an income-focused asset, with a stated 9% cap rate in the offering materials. Recent building improvements include a brand-new roof provided with a warranty.
The property is located at 602 Division St, Biloxi, MS 35390. With retail space as the existing asset type, it is suited for investors and operators seeking an established commercial real estate hold.
The offering indicates a total property size of 7,980 square feet.
The property is located at 602 Division St, Biloxi, MS 35390. With retail space as the existing asset type, it is suited for investors and operators seeking an established commercial real estate hold.
The offering indicates a total property size of 7,980 square feet.
Key Highlights
- Retail property built in 1989
- 9% cap rate
- 30+ year operating history
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
$71,761
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
8.09%
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%
$1,435,220
$1.4M
Cap Rate 7%
$1,025,157
$1.0M
Cap Rate 9%
$797,344
$797.3K
Market Conditions
NOI Build-Up for 7,980 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
$112.0K $14.04/SF
− Vacancy
−$9.5K −$1.19/SF
EGI
$102.5K $12.85/SF
− OpEx
−$30.8K −$3.85/SF
NOI
$71.8K $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 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%
$1,435,220
Cap Rate 7%
$1,025,157
Cap Rate 9%
$797,344
Alternative Uses
Best Use
Retail
$1.03M
$897.0K – $1.20M
NOI $71,761 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.29M
$1.12M – $1.50M
NOI $89,990 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
573
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
0.1 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - For sale retail property with a 9% cap rate, 30+ year operating history, and a brand-new roof with warranty.
Where is this retail space located?
The property is located at 602 Division St Biloxi, MS.
What is the asking price?
The asking price for this property is $886,666.
What are key features of this property?
This property features: Retail property built in 1989; 9% cap rate; 30+ year operating history
