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    Historic Downtown Office Suite Title is generated by Realmo AI

    929 Washington Avenue, Ocean Springs, MS 39564

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    For Lease
    $2,700/Mo $6 SF/Yr (calc)

    COMMERCIAL - Ocean Springs, MS

    Type:Office
    Property size:
    5,125 SF
    Lot size:
    0.10 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 8:06 am

    Property Features for 929 Washington Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Bathrooms
    1
    Rooms
    Bathroom 1, Bathroom 2
    Window features
    Wood Frames
    Standard status
    Active
    APN
    6-01-19-134.00e
    Size
    5,125 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    BEG AT SW COR INTERSECTION OF ROBINSON AVE & WASHINGTON AVE S 50' W 73' N 50' E 73' TO POB BEINGPART OF LOT 9 & 10 BLK 19 CULMSEIG MAP ADA LOT 6 BLK 128 OF THEOCEAN SPRINGS CITY MAP DB 1974-609 (232 MAP784.19-03) EXEMPT VALUE OF BUILDING EXEMPT THROU GH 12/31/2028
    Tax Annual Amount
    1260

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1912
    Flooring type
    Simulated wood

    We can help!

    Listing Contact
    Allen A Stanfield
    Allen A Stanfield

    Listing agent Allen A Stanfield License #S49198

    Listing office Rain Residential 401 Porter Ave., Ocean Springs, MS

    Listing date Jun 5, 2026

    MLS# 4151759

    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.

    HighLights

    • Historic office space in a recognizable Ocean Springs building built in 1912
    • Suite includes 3 private offices plus a reception/entry area
    • Separate men's and women's restrooms
    • Features exposed brick walls and high ceilings
    • Simulated wood flooring
    • Office suite located in downtown Ocean Springs beneath The Hemingway Hotel

    Overview

    Available for rent, this executive office space is located beneath The Hemingway Hotel and alongside Mimi Reinke Design in a restored historic building in downtown Ocean Springs. The suite includes three private offices, a reception/entry area, and separate men’s and women’s restrooms, making it suitable for client-facing teams and established professional practices. Character details include exposed brick walls and high ceilings.

    The space sits at the center entrance to downtown Ocean Springs, with established businesses in the surrounding area. The listing notes nearby restaurants, coffee shops, boutiques, and local amenities, supporting convenient client visits and walkable everyday access.

    Tenants can lease the office space in a flexible manner, with suites available individually or as an entire office suite for growing businesses, independent professionals, or collaborative teams. This configuration supports a mix of private work and a defined reception area for meetings, while the separate restrooms add everyday convenience for staff and visitors. Schedule a tour to review the layout and determine the right fit for your operation.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Hemingway Hotel & Motel Mimi Reinke Design Clothing & Fashion Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Springs
    County
    Jackson
    State
    Mississippi
    Longitude
    -88.82803
    Latitude
    30.414817

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    FAQs

    What type of property is this?
    Office units - Executive office suite with three private offices, reception entry, and separate restrooms in a restored downtown building.
    Where is this office units located?
    The property is located at 929 Washington Avenue Ocean Springs, MS.
    What is the lease rate?
    The lease rate is $2,700 /Mo.
    What are key features of this property?
    This property features: Historic office space in a recognizable Ocean Springs building built in 1912; Suite includes 3 private offices plus a reception/entry area; Separate men's and women's restrooms
    (228) 383-5661
    We can help!
    Listing Contact
    Allen A Stanfield
    Allen A Stanfield
    Real Estate License ID: S49198
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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