Building Details

Buildings 1

Stories 2

Building Size 7,616 SF

Tenancy Multi

Owner Occupied Yes

Listing Agency: Southeast Commercial of MS, LLC

Listed By: Monte Luffey · License #B19701 Show Phone

Source: Lacdb.resimplifi

Added: Oct 13, 2025 Changed: Oct 13 Last Checked: Oct 14 at 7:36PM

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Investment Insights

Based on property information with market context.

This two-story office property contains 7,616 SF across a primary office building and two separate rear suites. The front portion provides 5,116 SF with multiple offices, two large conference rooms, and two break rooms. Each rear suite measures 1,250 SF, creating a total of two smaller office spaces in addition to the front building. One rear suite is occupied by an attorney under a month-to-month lease, while the other is vacant.

The property is situated one block from the beach and one block from Hwy 90 in Gulfport. Beach views are identified as a property feature. The existing configuration supports continued office use, and the source information also identifies potential conversion to executive office suites, VRBO, or apartments.

Key Highlights

• 7,616 SF two‑story office property in Gulfport
• Front building includes 5,116 SF of office space
• Two rear office suites measuring 1,250 SF each

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$60,703

Cap Rate

6.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,214,060 $1.2M

Cap Rate 7%

$867,186 $867.2K

Cap Rate 9%

$674,478 $674.5K

Market Conditions

NOI Build-Up for 7,616 SF

Gross rent

$98.7K $12.96/SF

− Vacancy

−$17.8K −$2.33/SF

EGI

$80.9K $10.63/SF

− OpEx

−$20.2K −$2.66/SF

NOI

$60.7K $7.97/SF

Area

Harrison County, MS

Vacancy

18.00%

Lease Rate

$12.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,214,060

Cap Rate 7%

$867,186

Cap Rate 9%

$674,478

Alternative Uses

Best Use

Office B

$867.2K

$758.8K – $1.01M (±1% cap)

NOI $60,703 @ 7.0% cap · market cap 6.75%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$1.23M

$1.07M – $1.43M (±1% cap)

NOI $85,886 @ 7.0% cap · market cap 9.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick Grocery & Convenience Store (Bike/Boat/Book/etc) Store Bakery Auto Parts Store Big Box & Wholesale Store Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

398

Businesses Nearby

Explore this area Business Placement

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 Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Multi-office layout includes conference rooms, break areas, and two additional suites.

Where is this office building located?

The property is located at 626 16th St Gulfport, MS.

What is the asking price?

The asking price for this property is $899,000.

What are key features of this property?

This property features: 7,616 SF two‑story office property in Gulfport; Front building includes 5,116 SF of office space; Two rear office suites measuring 1,250 SF each