Two-Story Office Building Near
For Sale
$899,000
626 16th St, Gulfport, MS 39507
Multi-office layout includes conference rooms, break areas, and two additional suites.
Property Size7,616 SF
Price / SF$118.04
Days on Market322
Property Features for 626 16th St
General Information
Standard status
Active
Size
7,616 SF
Property subtype
Office
Zoning
T4-P
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Stories
2
Building Size
7,616 SF
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Southeast Commercial of MS, LLC
(228) 276-2700
Listed By:
Monte Luffey · License #13267
(228) 276-2700
Source:
Lacdb.resimplifi
Added: Oct 13, 2025
Changed: Aug 28
Last Checked: Aug 30 at 1:46PM
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 Southeast Commercial of MS, LLC
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.
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 = 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
$60,703
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
6.75%
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%
$1,214,060
$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
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
$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 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%
$1,214,060
Cap Rate 7%
$867,186
Cap Rate 9%
$674,478
Alternative Uses
Best Use
Office B
$867.2K
$758.8K – $1.01M
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
NOI $85,886 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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
