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 Market385
Property Features for 6514 Washington Ave
General Information
Standard status
Active
Size
6,000 SF
Lot size
1.74 Acres
Taxes and HOA fees
Annual Taxes
$6,475
Listing Agency:
Sawyer Real Estate, Inc. Of Ms.
(228) 863-0232
Listed By:
Lenny Sawyer · License #B3550
(228) 861-1313
Source:
Exprealty
Added: Aug 19, 2025
Changed: Aug 20
Last Checked: Sep 6 at 1:12PM
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.
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 = 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
$88,719
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
6.57%
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%
$1,774,380
$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
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
$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 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%
$1,774,380
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Under-served
Demand for This Use
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 Retail in South region
Questions? Ask Rey
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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
