Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1103 Hanley Rd Ocean Springs, MS 39564-3108

    • Medical offices
    • 2,444 SF
    • 0.29 lot acres
    OFF-MARKET
    Last Sale
    Nov 12, 2020
    Value Estimations
    $210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-1383513
    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.

    Current Use by Public Records

    • READ Mississippi / Association / Organization
    • Martin Medical - James B Martin LLC / Medical Clinic / Family Practice Physician
    • The Capitol Group / Legal Services / Service Establishment
    • Southeastern Compliance Group / Consultant
    • Law Offices of Haley S. Martin / Attorney

    Property Details for 1103 Hanley Rd

    Year built
    1990
    Lot size
    0.29 lot acres
    Property size
    2,444 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    61475001.000
    APU
    61475001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $161,000
      Market price range: $126k - $249k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $185,000
      Current use
      COMMERCIAL (GENERAL)
      $385,000
      Change: +108% Conversion: Easy
      OFFICE BUILDING
      $290,000
      Change: +57% Conversion: Easy
      AUTO REPAIR, GARAGE
      $250,000
      Change: +35% Conversion: Difficult
      RETAIL STORES
      $235,000
      Change: +28% Conversion: Difficult
      WAREHOUSE, STORAGE
      $210,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Springs
    County
    Jackson
    State
    Mississippi
    Longitude
    -88.7958
    Latitude
    30.4156
    CBSA code
    25060
    CBSA name
    GULFPORT-BILOXI, MS METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,748
    $4,236
    $28,366
    $32,602
    -
    $28,240
    $189,109
    $217,349

    Comparable in this City

    • Value Estimation by Request
      4,897 SF

      22 Doctors Dr

      MEDICAL BUILDING • 4,897 SF
      22 Doctors Dr, Ocean Springs, MS 39564-5721
      View Details
    • Value Estimation
      $480,000
      18,280 SF

      3420 Bienville Blvd

      MEDICAL BUILDING • 18,280 SF
      3420 Bienville Blvd, Ocean Springs, MS 39564-5732
      View Details
    • Value Estimation
      $325,000
      5,394 SF

      3432 Bienville Blvd

      MEDICAL BUILDING • 5,394 SF
      3432 Bienville Blvd, Ocean Springs, MS 39564-5732
      View Details
    • Value Estimation
      $350,000
      6,554 SF

      3650 Groveland Rd

      MEDICAL BUILDING • 6,554 SF
      3650 Groveland Rd, Ocean Springs, MS 39564-5754
      View Details
    • Value Estimation
      $425,000
      9,920 SF

      1 Marks Rd

      MEDICAL BUILDING • 9,920 SF
      1 Marks Rd, Ocean Springs, MS 39564-4351
      View Details
    • Value Estimation
      $245,000
      3,402 SF

      3091 Bienville Blvd

      MEDICAL BUILDING • 3,402 SF
      3091 Bienville Blvd, Ocean Springs, MS 39564-4308
      View Details

    Similar Nearby for Sale

    • $1,850,000
      5,500 SF

      Ocean Springs Medical Office

      High-yield, 100% occupied medical building
      1511 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $345,000

      Commercial Space on Government Street

      Prime location for office or retail in Ocean Springs.
      201 Walnut Dr, Ocean Springs, MS 39564
      View Details
    • New
      $449,000
      0.12 Acres

      Prime Highway 90 Commercial Opportunity

      High-visibility commercial property in Ocean Springs' dynamic corridor.
      1807 School St, Ocean Springs, MS 39564
      View Details
    • $695,975
      1,764 SF

      Commercial Office Space For Sale

      Prime location with tenant in place, great investment opportunity.
      6200 Washington Ave, Ocean Springs, MS 39564
      View Details
    • $849,500
      0.80 Acres

      Ocean Springs Commercial Land Opportunity

      Prime .8-acre site, high visibility location.
      901 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $407,928

      Ocean Springs Commercial Land Development

      Prime Bienville Blvd location, multifamily potential.
      0 Hwy 90/ Bienville Blvd, Ocean Springs, MS 39564
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo
      995 SF

      Ocean Springs Office Space Available

      Office space for rent in convenient Ocean Springs location.
      1000 N Halstead Rd Lot, Ocean Springs, MS 39564
      View Details
    • Contact for pricing
      15,665 SF

      Ocean Springs Flex Space Available

      Prime Flex Space, 15,665 SF Available
      3100 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $1,600 /Mo
      900 SF

      Office Space in Mixed-Use Hub

      Versatile office space in Ocean Springs' newest mixed-use hub.
      615 First Ave, Ocean Springs, MS 39564
      View Details
    • $18 SF/Yr
      8,000 SF

      Ocean Springs Office Building For Lease

      8,000 SF office building with modern amenities for lease.
      998 North Halstead Rd, Ocean Springs, MS 39564
      View Details
    • $1,500 /Mo
      1,284 SF

      Retail Space in Ocean Springs

      Retail space available in a busy Ocean Springs location.
      3827 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $2,000 /Mo

      Updated Condo Near Ocean Springs

      Charming 2-bedroom condo with modern finishes and community amenities.
      114 Ethel Cir, Ocean Springs, MS 39564
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1103 Hanley Rd
    Ocean Springs, MS 39564-3108
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.