Two-Story Class A Office
For Sale
$2,400,000
920 Tommy Munro Dr, Biloxi, MS 39532
Class A office property with multiple lobbies, waiting areas, break rooms, and an elevator.
Property Size10,089 SF
Price / SF$237.88
Days on Market49
Property Features for 920 Tommy Munro Dr
General Information
Standard status
Active
Size
10,089 SF
Class
Class A
Elevators
Yes
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$29,115
Amenities
welcome lobbies
waiting rooms
break rooms with kitchen
ADA compliant restrooms
exterior balcony
Building Details
Buildings
1
Stories
2
Building Size
10,089 SF
Listing Agency:
Jordan Salloum, Broker
(228) 424-0330
Listed By:
Jordan Salloum · License #S24257
(228) 424-0330
Source:
Exprealty
Added: Jun 22
Changed: Aug 9
Last Checked: Aug 9 at 7:37AM
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 Jordan Salloum, Broker
Investment Insights
Based on property information with market context.
This 10,089 SF Class A office building occupies just over one acre in Biloxi Commerce Park. The two-story layout includes three lobby and reception areas, three waiting rooms, two full break rooms with kitchens, a full-service elevator, four ADA-compliant restrooms, and more than 23 offices that could accommodate medical exam rooms. An exterior balcony with two staircases adds another functional building feature, while ample parking supports daily operations.
The property is located one lot off Popp's Ferry Road, with clear visibility from the roadway and approximately 21,000 vehicles passing daily. It sits about half a mile south of I-10 and approximately half a mile west of Cedar Lake Road, which carries approximately 6,400 vehicles daily. The building is directly behind Memorial Physician's Clinic on Popp's Ferry Road and is also available for lease.
The property is located one lot off Popp's Ferry Road, with clear visibility from the roadway and approximately 21,000 vehicles passing daily. It sits about half a mile south of I-10 and approximately half a mile west of Cedar Lake Road, which carries approximately 6,400 vehicles daily. The building is directly behind Memorial Physician's Clinic on Popp's Ferry Road and is also available for lease.
Key Highlights
- 10,089 SF Class A office building on just over one acre
- Three lobby and reception areas plus three waiting rooms
- Two full break rooms with kitchens
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
$113,774
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
4.74%
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%
$2,275,480
$2.3M
Cap Rate 7%
$1,625,343
$1.6M
Cap Rate 9%
$1,264,156
$1.3M
Market Conditions
NOI Build-Up for 10,089 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
$211.9K $21.00/SF
− Vacancy
−$22.2K −$2.21/SF
EGI
$189.6K $18.80/SF
− OpEx
−$75.8K −$7.52/SF
NOI
$113.8K $11.28/SF
Area
Harrison County, MS
Vacancy
10.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
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%
$2,275,480
Cap Rate 7%
$1,625,343
Cap Rate 9%
$1,264,156
Alternative Uses
Best Use
Healthcare Medical
$1.63M
$1.42M – $1.90M
NOI $113,774 @ 7.0% cap · market cap 4.74%
Second Best
Office B
$1.15M
$1.01M – $1.34M
NOI $80,413 @ 7.0% cap · market cap 3.35%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
691
Businesses Nearby
Explore this area
Business Placement
Demographics for 39532, MS
34,348
Population
15,466
Households
2.2
Avg Household Size
39
Median Age
26%
College-Educated
86%
High-School Grad
82.2 sq mi
ZIP Area
418
Density / Sq Mi
$65,892
Median Household Income
$40,751
Median Earnings
$1,098
Median Rent
$227,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Class A office property with multiple lobbies, waiting areas, break rooms, and an elevator.
Where is this office building located?
The property is located at 920 Tommy Munro Dr Biloxi, MS.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 10,089 SF Class A office building on just over one acre; Three lobby and reception areas plus three waiting rooms; Two full break rooms with kitchens
