Three-Story Mixed-Use
For Sale
$1,900,000
713 Howard Avenue, Biloxi, MS 39530
Downtown-zoned property with leased ground-floor units and owner-occupied upper levels.
Property Size18,000 SF
Days on Market159
Property Features for 713 Howard Avenue
General Information
Standard status
Active
Size
18,000 SF
Property subtype
Commercial
Zoning
Downtown
Additional Details
Gross Income
$54,000
Building Details
Building Size
18,000 SF
Year Built
1911
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Landmark Properties-Wheeler & Assoc., Inc.
(228) 209-3765
Listed By:
Jim Wheeler · License #B14811
(228) 209-3765
Source:
Jdanielrealtysells
Added: Mar 17
Changed: Aug 14
Last Checked: Aug 21 at 1:07PM
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 Landmark Properties-Wheeler & Assoc., Inc.
Investment Insights
Based on property information with market context.
Built in 1911, this three-story mixed-use property occupies a central position within Biloxi’s historic downtown district. The ground level contains two leased units, while the second and third floors are used by the owner. The existing arrangement combines operating commercial space with upper-level occupancy under the current ownership structure.
Located at 713 Howard Avenue, the property is zoned Downtown and benefits from its placement within the historic downtown area. The upper floors can remain in owner use or be evaluated for conversion into additional leased units, subject to applicable requirements. This configuration provides a clearly defined mix of leased and owner-occupied space within one commercial building.
Located at 713 Howard Avenue, the property is zoned Downtown and benefits from its placement within the historic downtown area. The upper floors can remain in owner use or be evaluated for conversion into additional leased units, subject to applicable requirements. This configuration provides a clearly defined mix of leased and owner-occupied space within one commercial building.
Key Highlights
- Three‑story mixed‑use building constructed in 1911
- Two leased units occupy the first floor
- Second and third floors are owner‑occupied
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
$127,575
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
6.71%
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%
$2,551,500
$2.6M
Cap Rate 7%
$1,822,500
$1.8M
Cap Rate 9%
$1,417,500
$1.4M
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
$226.8K $12.60/SF
− Vacancy
−$22.7K −$1.26/SF
EGI
$204.1K $11.34/SF
− OpEx
−$76.5K −$4.25/SF
NOI
$127.6K $7.09/SF
Area
Harrison County, MS
Vacancy
10.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
37.50%
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%
$2,551,500
Cap Rate 7%
$1,822,500
Cap Rate 9%
$1,417,500
Alternative Uses
Best Use
Mixed Use
$1.82M
$1.59M – $2.13M
NOI $127,575 @ 7.0% cap · market cap 6.71%
Second Best
—
—
no second resolved use
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
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,047
Businesses Nearby
Explore this area
Business Placement
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown-zoned property with leased ground-floor units and owner-occupied upper levels.
Where is this mixed-use property located?
The property is located at 713 Howard Avenue 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: Three‑story mixed‑use building constructed in 1911; Two leased units occupy the first floor; Second and third floors are owner‑occupied
