Three-Story Mixed-Use
For Sale
$1,900,000
713 Howard Ave, Biloxi, MS 39530
Three-story mixed-use building with two leased first-floor units and owner-occupied second and third floors.
Property Size18,000 SF
Price / SF$105.56
Days on Market8
Property Features for 713 Howard Ave
General Information
Standard status
Active
Size
18,000 SF
Building Details
Year Built
1911
Buildings
1
Stories
3
Listing Agency:
Landmark Properties-Wheeler & Assoc., Inc.
(228) 209-3765
Listed By:
Jim Wheeler · License #B14811
Source:
Fiorellaavenue
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 7:32PM
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 Landmark Properties-Wheeler & Assoc., Inc.
Investment Insights
Based on property information with market context.
Built in 1911, this three-story mixed-use property contains 18,000 SF at 713 Howard Ave in Biloxi’s historic downtown district. The first level is divided into two leased units, while the second and third floors are occupied by the owner.
The upper floors provide flexibility for continued owner occupancy or conversion to additional leased units, as supported by the current configuration. The property combines street-level commercial space with separately occupied upper floors within Biloxi’s historic downtown area.
The upper floors provide flexibility for continued owner occupancy or conversion to additional leased units, as supported by the current configuration. The property combines street-level commercial space with separately occupied upper floors within Biloxi’s historic downtown area.
Key Highlights
- 18,000 SF three‑story mixed‑use building
- Built in 1911
- Two leased units occupy the first floor
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
$161,867
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
8.52%
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%
$3,237,340
$3.2M
Cap Rate 7%
$2,312,386
$2.3M
Cap Rate 9%
$1,798,522
$1.8M
Market Conditions
NOI Build-Up for 18,000 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
$252.7K $14.04/SF
− Vacancy
−$21.5K −$1.19/SF
EGI
$231.2K $12.85/SF
− OpEx
−$69.4K −$3.85/SF
NOI
$161.9K $8.99/SF
Area
Harrison County, MS
Vacancy
8.50%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$3,237,340
Cap Rate 7%
$2,312,386
Cap Rate 9%
$1,798,522
Alternative Uses
Best Use
Retail
$2.31M
$2.02M – $2.70M
NOI $161,867 @ 7.0% cap · market cap 8.52%
Second Best
Mixed Use
$1.82M
$1.59M – $2.13M
NOI $127,575 @ 7.0% cap · market cap 6.71%
Theoretical Best
Healthcare Medical
$2.90M
$2.54M – $3.38M
NOI $202,986 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,047
Businesses Nearby
89k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 25%
Hotels & Casinos 4%
McDonald's
Dining
26,133 visits/mo
0.1 miles
Shell
Shops & Services
19,201 visits/mo
0.4 miles
Half Shell Oyster House
Dining
17,885 visits/mo
0.2 miles
Waffle House
Dining
7,325 visits/mo
0.1 miles
Waffle House
Dining
5,964 visits/mo
0.4 miles
Demographics for 39530, MS
8,392
Population
4,533
Households
1.9
Avg Household Size
41
Median Age
18%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
1,865
Density / Sq Mi
$39,755
Median Household Income
$26,222
Median Earnings
$821
Median Rent
$149,600
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?
Mixed-use property - Three-story mixed-use building with two leased first-floor units and owner-occupied second and third floors.
Where is this mixed-use property located?
The property is located at 713 Howard Ave Biloxi, MS.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 18,000 SF three‑story mixed‑use building; Built in 1911; Two leased units occupy the first floor
