Restaurant and Retail
For Sale
$1,350,000
6514 Washington Ave, Ocean Springs, MS 39564
Sale includes three parcels totaling about 1.74 acres with a 6,000 SF building suited for restaurant and retail use.
Property Size6,000 SF
Lot Size1.74 Acres
Price / SF$225
Days on Market98
Property Features for 6514 Washington Ave
General Information
Standard status
Active
Size
6,000 SF
Lot size
1.74 Acres
Building Details
Year Built
1986
Listing Agency:
Sawyer Real Estate, Inc. Of Ms.
Listed By:
Lenny Sawyer · License #B3550
(228) 861-1313
Source:
Fiorellaavenue
Added: Jul 17
Changed: Oct 13
Last Checked: Oct 7 at 3:07PM
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 Sawyer Real Estate, Inc. Of Ms.
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Investment Insights
Based on property information with market context.
This listing offers the sale of three parcels totaling approximately 1.74 acres (+/-), anchored by a 6,000 SF building on the primary parcel. The property is described as suitable for restaurant and retail use, with space configured to support day-to-day customer-facing operations.
Located at 6514 Washington Ave in Ocean Springs, MS, the property is positioned for accessibility and is presented as having strong access for visitors and deliveries. The larger parcel footprint provides room to accommodate on-site activity tied to retail and dining use.
Overall, this is a multi-parcel commercial offering centered on a single, 6,000 SF building designed for restaurant and retail compatibility in a single ownership package.
Located at 6514 Washington Ave in Ocean Springs, MS, the property is positioned for accessibility and is presented as having strong access for visitors and deliveries. The larger parcel footprint provides room to accommodate on-site activity tied to retail and dining use.
Overall, this is a multi-parcel commercial offering centered on a single, 6,000 SF building designed for restaurant and retail compatibility in a single ownership package.
Key Highlights
- Sale includes three parcels totaling about 1.74 acres (+/-)
- Includes a 6,000 SF building on the primary parcel
- Building is suited for restaurant and retail use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,719
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,774,380
$1.8M
Cap Rate 7%
$1,267,414
$1.3M
Cap Rate 9%
$985,767
$985.8K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$128.2K $21.36/SF
− Vacancy
−$9.9K −$1.64/SF
EGI
$118.3K $19.72/SF
− OpEx
−$29.6K −$4.93/SF
NOI
$88.7K $14.79/SF
Area
Jackson County, MS
Vacancy
7.70%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,774,380
Cap Rate 7%
$1,267,414
Cap Rate 9%
$985,767
Alternative Uses
Best Use
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,719 @ 7.0% cap · market cap 6.57%
Second Best
Retail
$1.02M
$892.8K – $1.19M
NOI $71,425 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,739 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Under-served
Demand for This Use
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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
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Sale includes three parcels totaling about 1.74 acres with a 6,000 SF building suited for restaurant and retail use.
Where is this conventional restaurant located?
The property is located at 6514 Washington Ave Ocean Springs, MS.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Sale includes three parcels totaling about 1.74 acres (+/-); Includes a 6,000 SF building on the primary parcel; Building is suited for restaurant and retail use
