Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    2 Pass Rd Gulfport, MS 39507

    • Retail residential properties
    • 13,967 SF
    • 1.28 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0105318
    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

    • Redbox / Movie Rental / Video Game Rental Kiosk
    • Family Dollar / Clothing Store / Tobacco Shop
    • Gerald J. Viator, RPH / Pharmacy
    • Steven J. Juraszek, PharmD / Pharmacy

    Property Details for 2 Pass Rd

    Year built
    1995
    Lot size
    1.28 lot acres
    Property size
    13,967 SF
    Property type
    Retail residential properties
    APN
    0910J-01-085.000
    APU
    0910J01085000

    Description

    This exceptional retail opportunity in Gulfport, Mississippi, presents a 15,025 square foot freestanding building situated on a 1.138-acre lot at a high-traffic intersection of Pass Road and Courthouse Road. The property, zoned B-2, offers outstanding visibility and convenient access. Currently, a portion of the building (approximately 5,501 sq ft) is occupied by Encore Rehabilitation Physical Therapy Clinic. However, a significant portion of the building, totaling 9,524 square feet, is available for lease. This space was previously occupied by a Family Dollar store. The minimum leasable space is 4,000 square feet, with a maximum contiguous space of 9,524 square feet. The property's location provides easy access to Highway 90 (four minutes away), Highway 49 (less than ten minutes away), and Interstate 10, placing it within easy reach of Gulfport's vibrant beach tourism corridor. Pylon signage is available for the occupant of the vacant space. The property's APN is 0910J-01-085.000, and it's classified as Class C. This is an ideal location for businesses seeking high visibility and convenient access in a thriving area. The building consists of two suites.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gulfport
    County
    Harrison
    State
    Mississippi
    Longitude
    -89.0449
    Latitude
    30.3943
    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
    $20,857
    $0.00
    $0.00
    $154,189
    -
    $342,079
    $685,846
    $1,027,925

    Comparable in this City

    • Value Estimation by Request
      14,970 SF

      1417 Pass Rd

      STORES & APARTMENTS • 14,970 SF
      1417 Pass Rd, Gulfport, MS 39507-3522
      View Details
    • Value Estimation by Request
      8,961 SF

      2013 Pass Rd

      STORES & APARTMENTS • 8,961 SF
      2013 Pass Rd, Gulfport, MS 39507-3719
      View Details
    • Value Estimation by Request
      1,737 SF

      165 Tegarden Rd

      STORES & APARTMENTS • 1,737 SF
      165 Tegarden Rd, Gulfport, MS 39507-1325
      View Details
    • Value Estimation by Request
      4,077 SF

      618 Courthouse Rd

      STORES & APARTMENTS • 4,077 SF
      618 Courthouse Rd, Gulfport, MS 39507-2506
      View Details
    • Value Estimation by Request
      7,071 SF

      400 Pass Rd

      STORES & APARTMENTS • 7,071 SF
      400 Pass Rd, Gulfport, MS 39507-3236
      View Details
    • Value Estimation by Request
      2,874 SF

      2170 Pass Rd

      STORES & APARTMENTS • 2,874 SF
      2170 Pass Rd, Gulfport, MS 39507-3863
      View Details

    Similar Nearby for Sale

    • $89,000
      1.52 Acres

      Gulfport Land: 1.52 Acres

      Prime Gulfport development land, excellent visibility.
      0 34Th St, Gulfport, MS 39507
      View Details
    • $739,000
      2.44 Acres

      Gulfport Commercial Land - 2 Lots

      Prime Gulfport location, fully entitled, 2.44 acres.
      0 Cowan Rd, Gulfport, MS 39507
      View Details
    • $1,950,000
      8.70 Acres

      Gulfport Commercial Land - Hwy 605

      Prime 8.7-acre commercial lot in Gulfport, MS.
      11579 Lorraine Rd, Gulfport, MS 39507
      View Details
    • $3,800,000

      Waterfront Development Opportunity in Gulfport

      15.5-acre waterfront development tract on Bayou Bernard in Gulfport, MS.
      1014 Pine St, Gulfport, MS 39507
      View Details
    • $335,000
      1,600 SF

      Renovated Building on Pass Road

      Updated building suitable for office, retail, medical, or residential use.
      730 E Pass Rd, Gulfport, MS 39507
      View Details
    • $1,420,000
      8.70 Acres

      Gulfport Land on Highway 605

      8.7 acres of commercial land in Gulfport, Mississippi.
      11579 Lorraine Rd, Gulfport, MS 39507
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      9,524 SF

      Gulfport Retail Space Available

      High-visibility retail space, flexible lease options.
      2 Pass Rd, Gulfport, MS 39507
      View Details
    • $750 /Mo
      877 SF

      Charming Office Space in Gulfport

      Functional office space in a buzzing Gulfport location.
      450 E Pass Rd, Gulfport, MS 39507
      View Details
    • $8 SF/Yr
      3,525 SF

      Gulfport Commercial Space For Lease

      Commercial lease space available in Gulfport, Mississippi.
      330 Pass Rd, Gulfport, MS 39507
      View Details
    • $5 SF/Yr
      21,700 SF

      Commercial Space in Gulfport, MS

      Commercial lease space available in Airport Plaza.
      350 Pass Rd, Gulfport, MS 39507
      View Details
    • New
      $750 /Mo
      1,650 SF

      Gulfport Office Space For Lease

      Office space for lease with utilities included and private entrance.
      706 E Pass Rd, Gulfport, MS 39507
      View Details
    • $7 SF/Yr
      30,000 SF

      Gulfport Retail & Warehouse Space

      Prime Gulfport location, multiple suites available.
      34 29Th St, Gulfport, MS 39507
      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.
    2 Pass Rd
    Gulfport, MS 39507
    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.