Three-Unit Multifamily
8704 Palm Ave, Ocean Springs, MS 39564
For Sale
$399,900
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 Market50
Property Features for 8704 Palm Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
RE/MAX Coast Delta Realty
Listed By:
John Gomez
(228) 697-5479
Source:
Coasthomesms
Added: Sep 19
Changed: Nov 6
Last Checked: Nov 6 at 8:08AM
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 RE/MAX Coast Delta Realty
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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 / Yr
$20,775
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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
