Three-Unit Multifamily
New
For Sale
$399,900
8704 Palm Ave, Ocean Springs, MS 39564
Three separate residences with kitchens, living areas, and access to nearby boating and coastal recreation.
Property Size2,998 SF
Price / SF$133.39
Days on Market4
Property Features for 8704 Palm Ave
General Information
Standard status
Active
Size
2,998 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 1 x studio
Multifamily Units
3
Building Details
Year Built
2010
Buildings
1
Listing Agency:
Allied Realty Coastal Homes
Listed By:
John Gomez
(228) 697-5479
Source:
Coasthomesms
Added: Sep 19
Changed: Sep 21
Last Checked: Sep 21 at 6:25AM
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 Allied Realty Coastal Homes
Investment Insights
Based on property information with market context.
This 2,998-square-foot triplex, built in 2010, contains three separate residential units and three bathrooms. The property includes kitchens with appliances, defined living areas, and bedrooms within the residential layout. Natural light and functional floor plans support everyday occupancy, while the three-unit configuration provides a multifamily format for rental use.
Located at 8704 Palm Ave in Ocean Springs, the property is within Gulf Park Estates. Two public boat launches are available nearby, along with a bait and tackle shop offering supplies and fuel. Local dining and entertainment options include The Bayou Bar and Grill, adding waterfront recreation and coastal amenities to the surrounding setting.
Located at 8704 Palm Ave in Ocean Springs, the property is within Gulf Park Estates. Two public boat launches are available nearby, along with a bait and tackle shop offering supplies and fuel. Local dining and entertainment options include The Bayou Bar and Grill, adding waterfront recreation and coastal amenities to the surrounding setting.
Key Highlights
- 2,998‑square‑foot triplex with three separate units
- Built in 2010
- Three bathrooms across the property
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
$20,775
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
5.20%
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%
$415,500
$415.5K
Cap Rate 7%
$296,786
$296.8K
Cap Rate 9%
$230,833
$230.8K
Market Conditions
NOI Build-Up for 2,998 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
$32.0K $10.68/SF
− Vacancy
−$2.3K −$0.78/SF
EGI
$29.7K $9.90/SF
− OpEx
−$8.9K −$2.97/SF
NOI
$20.8K $6.93/SF
Area
Jackson County, MS
Vacancy
7.31%
Lease Rate
$10.68 /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%
$415,500
Cap Rate 7%
$296,786
Cap Rate 9%
$230,833
Alternative Uses
Best Use
Multifamily LT 5
$296.8K
$259.7K – $346.3K
NOI $20,775 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$258.3K
$226.0K – $301.4K
NOI $18,081 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$819.0K
$716.6K – $955.5K
NOI $57,331 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily 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?
Triplex - Three separate residences with kitchens, living areas, and access to nearby boating and coastal recreation.
Where is this triplex located?
The property is located at 8704 Palm Ave Ocean Springs, MS.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2,998‑square‑foot triplex with three separate units; Built in 2010; Three bathrooms across the property
