Coastal Triplex with Studio
New
For Sale
$399,900
8704 Palm Avenue, Ocean Springs, MS 39564
Residential, Ocean Springs, MS
Property Size2,998 SF
Lot Size0.24 Acres
Price / SF$133.39
Days on Market6
Property Features for 8704 Palm Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 1, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 4, Bedroom 2
Subdivision
Gulf Park Estates
Standard status
Active
APN
0-54-05-626.000
Size
2,998 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 24 BLK 144 GULF PARK EST S/D DB 1404-756 (783 MAP881.11)
Tax Annual Amount
2792
Legal Description
LOT 24 BLK 144 GULF PARK EST S/D DB 1404-756 (783 MAP881.11)
Building Details
Year built
2010
Floors in Building
2
Listing Agency:
eAgent Nexus
(228) 400-2555
Listed By:
Keri Burke · License #S50542
(228) 382-0680
Added: Sep 17
Changed: Sep 21
Last Checked: Sep 22 at 4:06PM
MLS# 4162749
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2010, this 2,998-square-foot triplex contains three separate residential units with a total of 6 bedrooms and 3 bathrooms. Two units are configured with 2 bedrooms and 1 bathroom each, while the third is a studio. The property includes kitchens with modern appliances, functional layouts, and living areas designed to receive natural light.
Set on 0.24 acres in Ocean Springs, the property is near two public boat launches, a bait and tackle shop, local dining, and waterfront recreation. Its residential configuration and coastal setting support continued use as a multifamily property with multiple living spaces under one ownership.
Set on 0.24 acres in Ocean Springs, the property is near two public boat launches, a bait and tackle shop, local dining, and waterfront recreation. Its residential configuration and coastal setting support continued use as a multifamily property with multiple living spaces under one ownership.
Key Highlights
- Three‑unit property with 6 bedrooms and 3 bathrooms
- 2,998 square feet on a 0.24‑acre lot
- Unit mix includes two 2‑bedroom/1‑bath units and one studio
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
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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
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit multifamily property with separate living spaces, updated kitchens, and access to nearby boating and dining amenities.
Where is this triplex located?
The property is located at 8704 Palm Avenue 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: Three‑unit property with 6 bedrooms and 3 bathrooms; 2,998 square feet on a 0.24‑acre lot; Unit mix includes two 2‑bedroom/1‑bath units and one studio
