Modern Leased Medical
For Sale
Contact for pricing
Pending
1511 Bienville Blvd, Ocean Springs, MS 39564
5,500 SF medical building fully leased to Memorial Health System.
Property Size5,500 SF
Days on Market682
Property Features for 1511 Bienville Blvd
General Information
Standard status
Pending
Size
5,500 SF
Class
A
Total Parking Spaces
19
Property subtype
Office
Zoning
C-H
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$132,000
Building Details
Year Built
2021
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
NAI Rampart
Listed By:
Dexter Shill · License #LA SALE.0995690002-ACT
Source:
Crexi
Added: Oct 10, 2024
Changed: Aug 8
Last Checked: Aug 20 at 10:12PM
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 NAI Rampart
Investment Insights
Based on property information with market context.
This 5,500-square foot building in Ocean Springs, MS, completed in 2021, is fully leased to Memorial Health System. The property is suitable for medical use. Memorial Health System, a healthcare provider since 1946, operates two hospitals, over 100 physician clinics, outpatient centers, and post-acute services. The property is located near Memorial Hospital and other healthcare facilities, with potential for long-term value appreciation.
Key Highlights
- Fully leased to Memorial Health System, ensuring 100% occupancy.
- 5,500‑square foot modern building completed in 2021, a turnkey investment.
- Located near Memorial Hospital and other key healthcare facilities.
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
$78,250
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
4.23%
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%
$1,565,000
$1.6M
Cap Rate 7%
$1,117,857
$1.1M
Cap Rate 9%
$869,444
$869.4K
Market Conditions
NOI Build-Up for 5,500 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
$132.0K $24.00/SF
− Vacancy
−$27.7K −$5.03/SF
EGI
$104.3K $18.97/SF
− OpEx
−$26.1K −$4.74/SF
NOI
$78.2K $14.23/SF
Area
Jackson County, MS
Vacancy
20.96%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,565,000
Cap Rate 7%
$1,117,857
Cap Rate 9%
$869,444
Alternative Uses
Best Use
Office B
$1.12M
$978.1K – $1.30M
NOI $78,250 @ 7.0% cap · market cap 4.23%
Second Best
Healthcare Medical
$929.4K
$813.3K – $1.08M
NOI $65,060 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,178 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,140
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mississippi Veterinary Ophthalmology Specialists — 101 Rouselle Pl suite c, Ocean Springs, MS 39564
- King Laura DVM — 1524 Bienville Blvd, Ocean Springs, MS 39564
- Holahan Odile R DVM — 515 Washington Ave, Ocean Springs, MS 39564
- Burdick Felicia DVM — 1524 Bienville Blvd, Ocean Springs, MS 39564
- Palermo Don DVM — 1524 Bienville Blvd, Ocean Springs, MS 39564
Frequently Asked Questions
What type of property is this?
Medical Office Space - 5,500 SF medical building fully leased to Memorial Health System.
Where is this medical office space located?
The property is located at 1511 Bienville Blvd Ocean Springs, MS.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Fully leased to Memorial Health System, ensuring 100% occupancy.; 5,500‑square foot modern building completed in 2021, a turnkey investment.; Located near Memorial Hospital and other key healthcare facilities.
