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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2205 Government St Ocean Springs, MS 39564-3938

    • Auto shops
    • 3,800 SF
    • 0.49 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0187635
    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

    • Lindsey's Automotive Repair / Auto Repair Shop

    Property Details for 2205 Government St

    Year built
    1950
    Lot size
    0.49 lot acres
    Property size
    3,800 SF
    Property type
    Auto shops
    APN
    61230001.050
    APU
    61230001050

    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
    Ocean Springs
    County
    Jackson
    State
    Mississippi
    Longitude
    -88.8124
    Latitude
    30.4139
    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
    $2,356
    $7,091
    $9,086
    $16,177
    -
    $47,270
    $60,574
    $107,844

    Comparable in this City

    • Value Estimation by Request
      7,720 SF

      2313 Government St

      AUTO REPAIR, GARAGE • 7,720 SF
      2313 Government St, Ocean Springs, MS 39564-4011
      View Details
    • Value Estimation
      $780,000
      7,636 SF

      4127 Bienville Blvd

      AUTO REPAIR, GARAGE • 7,636 SF
      4127 Bienville Blvd, Ocean Springs, MS 39564-5907
      View Details
    • Value Estimation by Request
      2,920 SF

      7321 Hwy 90th E

      AUTO REPAIR, GARAGE • 2,920 SF
      7321 Hwy 90th E, Ocean Springs, MS 39564-7401
      View Details
    • Value Estimation by Request
      1,922 SF

      6815 Washington Ave

      AUTO REPAIR, GARAGE • 1,922 SF
      6815 Washington Ave, Ocean Springs, MS 39564-2118
      View Details
    • Value Estimation by Request
      3,210 SF

      1824 Bienville Blvd

      AUTO REPAIR, GARAGE • 3,210 SF
      1824 Bienville Blvd, Ocean Springs, MS 39564-3014
      View Details
    • Value Estimation by Request
      1,169 SF

      1415 Government St

      AUTO REPAIR, GARAGE • 1,169 SF
      1415 Government St, Ocean Springs, MS 39564-3823
      View Details

    Similar Nearby for Sale

    • $345,000

      Commercial Space on Government Street

      Prime location for office or retail in Ocean Springs.
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    • $1,350,000
      6,000 SF

      Ocean Springs Retail Opportunity

      Three parcels with a 6,000 SF building for sale.
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    • $149,900
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      Commercial property on Highway 90 with retail potential.
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    • $1,500,000
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      Downtown Ocean Springs Restaurant Opportunity

      Restaurant property in the heart of downtown Ocean Springs.
      1223 Government St, Ocean Springs, MS 39564
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    • $1,250,000
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      Profitable Bar & Grill For Sale

      Bar and grill with real property in Ocean Springs.
      2114 E Bienville Blvd, Ocean Springs, MS 39564
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    • $895,000
      1.27 Acres

      Ocean Springs Retail Land Investment

      Prime 1.27-acre commercial lot, high traffic area.
      4025 Bienville Blvd, Ocean Springs, MS 39564
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    Similar Nearby for Lease

    • Contact for pricing
      15,665 SF

      Ocean Springs Flex Space Available

      Prime Flex Space, 15,665 SF Available
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    • $9 SF/Yr
      122,918 SF

      Gulf Breeze Plaza: Retail Opportunity

      Prime Ocean Springs Shopping Center Space
      2200 Bienville Blvd, Ocean Springs, MS 39564
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    • $9 SF/Yr
      14,137 SF

      Gulf Breeze Plaza Retail Space

      Prime Ocean Springs retail space available. High visibility, great location.
      2200 - 2226 Bienville Blvd, 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
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    • $7 SF/Yr
      14,137 SF

      Dynamic Shopping Center on Highway

      Well-kept shopping center with high visibility and ample parking.
      2200-2226 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • Contact for pricing
      1,392 SF

      Retail Space in Walmart Shadow

      Retail space available in Walmart shadow center with high traffic.
      3907 Bienville Blvd, Ocean Springs, MS 39564
      View Details
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    2205 Government St
    Ocean Springs, MS 39564-3938
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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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