Renovated Commercial Building on Pass
For Sale
$275,000
828 Pass Rd, Gulfport, MS 39501
High-visibility commercial building with three units, one currently leased.
Property Size2,611 SF
Lot Size0.13 Acres
Price / SF$105.32
Days on Market275
Property Features for 828 Pass Rd
General Information
Standard status
Active
Size
2,611 SF
Lot size
0.13 Acres
Taxes and HOA fees
Annual Taxes
$2,393
Listing Agency:
Coastal Realty Group
(228) 238-4523
Listed By:
Tyler Hoover · License #S60822
(228) 238-4523
Source:
Exprealty
Added: Nov 20, 2025
Changed: Aug 20
Last Checked: Aug 21 at 12:25PM
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 Coastal Realty Group
Investment Insights
Based on property information with market context.
This high-visibility commercial building on Pass Road is suited for a business venture or investment portfolio. The recently renovated property features three separate units: Unit A (632 sq ft), Unit B (982 sq ft), and Unit C (997 sq ft). Each unit includes a new HVAC system, an individual power meter, and a private restroom. Unit B is currently leased, providing immediate rental income. The building features a newer roof and a large storefront display window. Zoned B-2 (Business District), the space accommodates a range of business types and shares a common wall with an established neighboring business. The property is in close proximity to the Gulfport-Biloxi International Airport and Interstate I-10. The seller also owns the lot directly behind the building and is open to selling, offering additional potential for parking, storage, or future expansion. This Gulfport location delivers traffic, exposure, and opportunity.
Key Highlights
- High‑visibility commercial building on Pass Road in a prime Gulfport location.
- Recently renovated with three separate units, each with new HVAC, individual power meter, and private restroom.
- Unit B is already leased, providing immediate rental income.
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
$23,480
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
8.54%
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%
$469,600
$469.6K
Cap Rate 7%
$335,429
$335.4K
Cap Rate 9%
$260,889
$260.9K
Market Conditions
NOI Build-Up for 2,611 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
$36.7K $14.04/SF
− Vacancy
−$3.1K −$1.19/SF
EGI
$33.5K $12.85/SF
− OpEx
−$10.1K −$3.85/SF
NOI
$23.5K $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%
$469,600
Cap Rate 7%
$335,429
Cap Rate 9%
$260,889
Alternative Uses
Best Use
Retail
$335.4K
$293.5K – $391.3K
NOI $23,480 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$420.6K
$368.1K – $490.7K
NOI $29,444 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
16k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
6,792 visits/mo
0.1 miles
Family Dollar
Shops & Services
4,725 visits/mo
0.2 miles
Chevron
Shops & Services
2,395 visits/mo
0.3 miles
U-Haul
Shops & Services
1,769 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
435 visits/mo
0.1 miles
Demographics for 39501, MS
22,599
Population
10,565
Households
2.1
Avg Household Size
35
Median Age
13%
College-Educated
78%
High-School Grad
14.4 sq mi
ZIP Area
1,569
Density / Sq Mi
$33,491
Median Household Income
$28,522
Median Earnings
$962
Median Rent
$115,300
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?
Storefront property - High-visibility commercial building with three units, one currently leased.
Where is this storefront property located?
The property is located at 828 Pass Rd Gulfport, MS.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: High‑visibility commercial building on Pass Road in a prime Gulfport location.; Recently renovated with **three separate units, each with new HVAC, individual power meter, and private restroom.**; Unit B is already leased, providing immediate rental income.
