Dealership Property with Auto
For Sale
Contact for pricing
622 E Pass Road, Gulfport, MS 39507
Operating dealership on 4.3 acres with two buildings.
Property Size13,757 SF
Lot Size4.30 Acres
Price / SF$87.22
Days on Market1363
Property Features for 622 E Pass Road
General Information
Standard status
Active
Size
13,757 SF
Lot size
4.30 Acres
Property subtype
Special Purpose, Land
Listing Agency:
Century 21 J. Carter & Company
(228) 547-4762
Listed By:
Ashley Endris · License #MS
Source:
Crexi
Added: Dec 7, 2022
Changed: Aug 14
Last Checked: Aug 31 at 8:00AM
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 Century 21 J. Carter & Company
Investment Insights
Based on property information with market context.
This property, currently operating as a dealership, is situated in a location with over 22,000 daily traffic counts. The site encompasses 4.3 acres and features two buildings. The first building measures 10,085 square feet and includes a showroom floor, seven offices, four restrooms, four car bays equipped with four post lifts, a service area, a waiting area, a parts department, and storage space. The second building, located in the rear, spans 3,672 square feet and has been utilized as a paint and body shop. It includes a fully operable paintbox, an office, and one restroom. The property is zoned T4.
Key Highlights
- High‑traffic location with over 22,000 daily traffic count, ideal for business visibility.
- Large 4.3‑acre property with two buildings totaling 13,757 sqft.
- Main building (10,085 sqft) features a showroom, seven offices, four restrooms, and four car bays with lifts.
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
$68,729
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
5.73%
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%
$1,374,580
$1.4M
Cap Rate 7%
$981,843
$981.8K
Cap Rate 9%
$763,656
$763.7K
Market Conditions
NOI Build-Up for 13,757 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
$107.3K $7.80/SF
− Vacancy
−$9.1K −$0.66/SF
EGI
$98.2K $7.14/SF
− OpEx
−$29.5K −$2.14/SF
NOI
$68.7K $5.00/SF
Area
Harrison County, MS
Vacancy
8.50%
Lease Rate
$7.80 /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%
$1,374,580
Cap Rate 7%
$981,843
Cap Rate 9%
$763,656
Alternative Uses
Best Use
Retail
$1.77M
$1.55M – $2.06M
NOI $123,711 @ 7.0% cap · market cap 10.31%
Second Best
Industrial
$981.8K
$859.1K – $1.15M
NOI $68,729 @ 7.0% cap · market cap 5.73%
Theoretical Best
Healthcare Medical
$2.22M
$1.94M – $2.59M
NOI $155,138 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
72k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 31%
Superstores 18%
Home Improvements & Furnishings 3%
Circle K
Shops & Services
17,187 visits/mo
0.4 miles
McDonald's
Dining
14,879 visits/mo
0.5 miles
Big Lots
Superstores
12,864 visits/mo
0.5 miles
Wendy's
Dining
9,740 visits/mo
0.4 miles
Smoothie King
Dining
7,346 visits/mo
0.3 miles
Demographics for 39507, MS
17,724
Population
9,032
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
8.2 sq mi
ZIP Area
2,161
Density / Sq Mi
$49,459
Median Household Income
$37,660
Median Earnings
$1,121
Median Rent
$220,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Auto shop - Operating dealership on 4.3 acres with two buildings.
Where is this auto shop located?
The property is located at 622 E Pass Road Gulfport, MS.
What is the asking price?
The asking price for this property is $1,199,900.
What are key features of this property?
This property features: High‑traffic location with **over 22,000 daily traffic count**, ideal for business visibility.; Large 4.3‑acre property with two buildings totaling 13,757 sqft.; Main building (10,085 sqft) features a showroom, seven offices, four restrooms, and **four car bays with lifts**.
