Leased Office Property with
For Sale
$695,975
6200 Washington Ave, Ocean Springs, MS 39564
Leased office property with a 750 sq ft Quonset hut for onsite storage behind the main office.
Property Size1,764 SF
Price / SF$394.54
Days on Market383
Property Features for 6200 Washington Ave
General Information
Standard status
Active
Size
1,764 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,155
Listing Agency:
Weichert Rltrs-Gulf Properties
(228) 617-3048
Listed By:
Thomas L Reynolds · License #B10810
(228) 617-3048
Source:
Exprealty
Added: Aug 6, 2025
Changed: Aug 23
Last Checked: Aug 21 at 10:35AM
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 Rltrs-Gulf Properties
Investment Insights
Based on property information with market context.
This for-sale leased office property includes a main office area and a 750 sq ft Quonset hut located behind the primary structure. The Quonset hut provides additional onsite storage capacity while the office remains under lease.
The property is positioned between Highway 90 and I-10 at 6200 Washington Avenue in Ocean Springs, MS 39564. The surrounding area includes a church, gas station, office buildings, boat sales, and restaurants.
The offering is presented as tenant-in-place, combining an income-producing office component with a separate enclosed storage building on the same site.
The property is positioned between Highway 90 and I-10 at 6200 Washington Avenue in Ocean Springs, MS 39564. The surrounding area includes a church, gas station, office buildings, boat sales, and restaurants.
The offering is presented as tenant-in-place, combining an income-producing office component with a separate enclosed storage building on the same site.
Key Highlights
- Office property built in 1967
- Currently leased, providing ongoing income
- Sale includes a 750 sq ft Quonset hut behind the main office for storage
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
$25,097
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
3.61%
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%
$501,940
$501.9K
Cap Rate 7%
$358,529
$358.5K
Cap Rate 9%
$278,856
$278.9K
Market Conditions
NOI Build-Up for 1,764 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
$42.3K $24.00/SF
− Vacancy
−$8.9K −$5.03/SF
EGI
$33.5K $18.97/SF
− OpEx
−$8.4K −$4.74/SF
NOI
$25.1K $14.23/SF
Area
Jackson County, MS
Vacancy
20.96%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$501,940
Cap Rate 7%
$358,529
Cap Rate 9%
$278,856
Alternative Uses
Best Use
Office B
$358.5K
$313.7K – $418.3K
NOI $25,097 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$481.9K
$421.7K – $562.2K
NOI $33,733 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 39564, MS
42,539
Population
18,908
Households
2.2
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
53.3 sq mi
ZIP Area
798
Density / Sq Mi
$77,300
Median Household Income
$43,754
Median Earnings
$1,314
Median Rent
$220,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Leased office property with a 750 sq ft Quonset hut for onsite storage behind the main office.
Where is this office units located?
The property is located at 6200 Washington Ave Ocean Springs, MS.
What is the asking price?
The asking price for this property is $695,975.
What are key features of this property?
This property features: Office property built in 1967; Currently leased, providing ongoing income; Sale includes a 750 sq ft Quonset hut behind the main office for storage
