Mixed-Use Office and Apartment
777 Watkins Ave Gulfport, MS 39507
For Sale
Contact for pricing
Two renovated office-ground units and an upper leased two-bedroom apartment with separate upper-level office space.
Property Size3,681 SF
Price / SF$120.89
Days on Market173
Property Features for 777 Watkins Ave
General Information
- Standard status
- Active
- Size
- 3,681 SF
- Property subtype
- OFFICE
Listing Agency:
Southeast Commercial of MS, LLC
(228) 224-4777
Listed By:
Victoria Chambers · License #S-48764
(228) 224-4777
Source:
Moodyscre
Added: Feb 1
Changed: Jul 21
Last Checked: Jul 21 at 9:08PM
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 Southeast Commercial of MS, LLC
Investment Insights
Based on property information with market context.
This mixed-use property includes a fully renovated upper-level two-bedroom, two-bathroom apartment, along with a separate office space on the upper level. The building also offers two additional ground-floor units suited for professional use. The property totals approximately 3,681 square feet.
The site is located just off Pass Road, one block from Cowan Lorraine, and next to Hansboro Square shopping plaza, with easy access to I-10 and Hwy 90. Zoning is listed as T4 Plus.
The building has three separate power meters, one for each unit, while water and gas utilities are metered collectively. The upstairs apartment is currently leased, providing ongoing rental income.
The site is located just off Pass Road, one block from Cowan Lorraine, and next to Hansboro Square shopping plaza, with easy access to I-10 and Hwy 90. Zoning is listed as T4 Plus.
The building has three separate power meters, one for each unit, while water and gas utilities are metered collectively. The upstairs apartment is currently leased, providing ongoing rental income.
Key Highlights
- Approx. 3,681 SF commercial building with an upstairs 2BD/2BA apartment plus separate upper‑level office space
- Upper unit is fully renovated and leased for $1,150/month
- Ground floor includes two additional office/ground units for professional use
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.7k | $12.96 |
| − Vacancy | −$8.6k | −$2.33 |
| EGI | $39.1k | $10.63 |
| − OpEx | −$9.8k | −$2.66 |
| NOI | $29.3k | $7.97 |
3,681 SF · lease $12.96/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$419.1K
$366.7K – $489.0K
NOI $29,339 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$294.1K
$257.3K – $343.1K
NOI $20,585 @ 7.0% cap · market cap 4.63%
Theoretical Best
Healthcare Medical
$593.0K
$518.9K – $691.9K
NOI $41,511 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Two renovated office-ground units and an upper leased two-bedroom apartment with separate upper-level office space.
Where is this office building located?
The property is located at 777 Watkins Ave Gulfport, MS.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Approx. 3,681 SF commercial building with an upstairs 2BD/2BA apartment plus separate upper‑level office space; Upper unit is fully renovated and leased for $1,150/month; Ground floor includes two additional office/ground units for professional use
