Restaurant Building with Metal
For Sale
$1,350,000
6514 Washington Avenue, Ocean Springs, MS 39564
Commercial Sale, Ocean Springs, MS
Property Size6,000 SF
Lot Size1.14 Acres
Price / SF$225
Days on Market386
Property Features for 6514 Washington Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C2
Lot features
City Lot, Fenced, City Lot, Fenced
Standard status
Active
APN
06110608.000
Size
6,000 SF
Lot size
1.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6475
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1986
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Sawyer Real Estate, Inc. Of Ms.
(228) 863-0232
Listed By:
Lenny Sawyer · License #B3550
(228) 861-1313
Added: Aug 19, 2025
Changed: Aug 26
Last Checked: Sep 8 at 12:06PM
MLS# 4122942
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property includes a 6,000-square-foot restaurant building constructed in 1986. Interior flooring is concrete, and the structure has a metal roof. Public water and public sewer serve the property, with cable service available.
Key Highlights
- 6,000‑square‑foot restaurant building
- Constructed in 1986
- Metal roof
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
331
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with public water and sewer service.
Where is this conventional restaurant located?
The property is located at 6514 Washington Avenue 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: 6,000‑square‑foot restaurant building; Constructed in 1986; Metal roof
