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    102 North St Long Beach, MS 39560

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    102 North St Long Beach, MS 39560

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    • Commercial real estate
    • 4,228 SF
    • 0.48 lot acres
    Off-Market
    Property ID
    US50-0365139
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 102 North St

    Year built
    1988
    Lot size
    0.48 lot acres
    Property size
    4,228 SF
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a well-maintained, four-unit apartment building situated on a sizable 0.48-acre lot in desirable Long Beach, Mississippi. The property consists of two duplexes, each boasting a total of 4,228 square feet, offering a compelling price per square foot of $124.88. Currently operating at 100% occupancy, this property provides immediate cash flow. Built in 1988 and renovated in 2008, the buildings are in excellent condition, featuring new roofs installed in 2021. The property includes a valuable 960 square foot storage shed located at the rear of the buildings, adding further utility and potential income streams. A perimeter fence enhances security and privacy. Conveniently located in a highly sought-after school district, this property is within walking distance of the beaches and minutes from the vibrant downtown area. The property is zoned for residential multi-family use and sits on a ground lease with an expiration date of November 30, 2024, currently month-to-month. This presents a unique opportunity for investors seeking a strong return in a thriving coastal community. The property's strong occupancy rate, desirable location, and recent improvements make it an attractive investment with significant upside potential. The combination of location, condition, and current occupancy makes this a truly exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Long Beach
    County
    Harrison
    State
    Mississippi
    Longitude
    -89.1627813
    Latitude
    30.3458634

    Comparable in this City

    • $632,000
      4,028 SF

      Income-Producing Five-Unit Complex

      Five-unit complex near the beach with strong rental income.
      406 Russell Ave, Long Beach, MS 39560
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    • $8,500,000

      Long Beach Multifamily Investment Opportunity

      Multifamily property with amenities in desirable Long Beach location.
      203 N Cleveland Ave, Long Beach, MS 39560
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    • $210,000
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      Long Beach Duplex Investment Opportunity

      Well-maintained Long Beach duplex with strong rental income potential.
      20017 Sunshine Dr, Long Beach, MS 39560
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    • Contact for pricing

      Beachfront Development Site Available

      10-acre beachfront property zoned for mixed-use development.
      998 Beach Blvd W, Long Beach, MS 39560
      View Details
    • $1,500,000
      10 SF

      Beachfront Development Site on Beach

      10-acre beachfront development site zoned for mixed-use commercial and residential.
      998 Beach Blvd W, Long Beach, MS 39560
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    • Contact for pricing
      0.23 Acres

      Coastal Homesite in Long Beach

      0.23-acre build-ready lot near beach, harbors, and amenities.
      Lang Ave, Long Beach, MS 39560
      View Details

    Similar Nearby for Sale

    • $632,000
      4,028 SF

      Income-Producing Five-Unit Complex

      Five-unit complex near the beach with strong rental income.
      406 Russell Ave, Long Beach, MS 39560
      View Details
    • $8,500,000

      Long Beach Multifamily Investment Opportunity

      Multifamily property with amenities in desirable Long Beach location.
      203 N Cleveland Ave, Long Beach, MS 39560
      View Details
    • $210,000
      2,000 SF

      Long Beach Duplex Investment Opportunity

      Well-maintained Long Beach duplex with strong rental income potential.
      20017 Sunshine Dr, Long Beach, MS 39560
      View Details
    • Contact for pricing

      Beachfront Development Site Available

      10-acre beachfront property zoned for mixed-use development.
      998 Beach Blvd W, Long Beach, MS 39560
      View Details
    • $1,500,000
      10 SF

      Beachfront Development Site on Beach

      10-acre beachfront development site zoned for mixed-use commercial and residential.
      998 Beach Blvd W, Long Beach, MS 39560
      View Details
    • Contact for pricing
      0.23 Acres

      Coastal Homesite in Long Beach

      0.23-acre build-ready lot near beach, harbors, and amenities.
      Lang Ave, Long Beach, MS 39560
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      82,520 SF

      Long Beach Retail Center Investment

      Prime Retail Space Available, MS
      19099 Pineville Rd, Long Beach, MS 39560
      View Details
    • Contact for pricing

      Prime Retail Space in Long Beach

      Excellent visibility and access in growing Long Beach market.
      19099 Pineville Rd, Long Beach, MS 39560
      View Details
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    102 North St
    Long Beach, MS 39560
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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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