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    601 Josephine St Pass Christian, MS 39571
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    601 Josephine St Pass Christian, MS 39571

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    • Commercial land
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    Pass Christian Development Site For Sale
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    Pass Christian Development Site

    9-acre development site zoned for multi-family units.

    601 Josephine St, Pass Christian, MS 39571
    View Listing
    Property ID
    US50-0347080
    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 land

    Property Details for 601 Josephine St

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Southeast Commercial is pleased to offer this 9 acre development site in Pass Christian, MS. The site is currently zoned T4L and would allow for multi family units. This site is located walking distance to Pass Christian High School and close to all the award winning Pass Christian school district schools.

    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
    Pass Christian
    County
    Harrison
    State
    Mississippi
    Longitude
    -89.26256
    Latitude
    30.315419

    Comparable in this City

    • $515,000
      Pending

      Pass Christian Commercial Land Opportunity

      3.9 acres of prime commercial land on Highway 90.
      1525 E Beach Blvd, Pass Christian, MS 39571
      View Details
    • $2,500,000
      3.18 Acres

      Waterfront Land on West Beach

      Prime 3.181-acre waterfront parcel for residential or mixed-use development.
      W Beach Blvd, Pass Christian, MS 39571
      View Details
    • New
      $6,287,412
      636.00 Acres

      636 Acres Near Interstate I-10

      636 acres suitable for residential, commercial, or industrial uses.
      0000000 Interstate 10, Pass Christian, MS 39571
      View Details
    • Contact for pricing

      2 Acre Lot Near Buc-ee's

      2 acre commercial lot near Buc-ee's and I-10.
      8232 Firetower Rd, Pass Christian, MS 39571
      View Details
    • Contact for pricing

      Beachfront Lot with Commercial Zoning

      Beachfront commercial lot suitable for condos, apartments, retail, and more.
      1598 E Beach Blvd, Pass Christian, MS 39571
      View Details
    • Contact for pricing

      Prime Location Near Long Beach

      Two-acre commercial site near downtown Long Beach.
      404 W Beach Blvd, Pass Christian, MS 39571
      View Details

    Similar Nearby for Sale

    • $515,000
      Pending

      Pass Christian Commercial Land Opportunity

      3.9 acres of prime commercial land on Highway 90.
      1525 E Beach Blvd, Pass Christian, MS 39571
      View Details
    • $2,500,000
      3.18 Acres

      Waterfront Land on West Beach

      Prime 3.181-acre waterfront parcel for residential or mixed-use development.
      W Beach Blvd, Pass Christian, MS 39571
      View Details
    • New
      $6,287,412
      636.00 Acres

      636 Acres Near Interstate I-10

      636 acres suitable for residential, commercial, or industrial uses.
      0000000 Interstate 10, Pass Christian, MS 39571
      View Details
    • Contact for pricing

      2 Acre Lot Near Buc-ee's

      2 acre commercial lot near Buc-ee's and I-10.
      8232 Firetower Rd, Pass Christian, MS 39571
      View Details
    • Contact for pricing

      Beachfront Lot with Commercial Zoning

      Beachfront commercial lot suitable for condos, apartments, retail, and more.
      1598 E Beach Blvd, Pass Christian, MS 39571
      View Details
    • Contact for pricing

      Prime Location Near Long Beach

      Two-acre commercial site near downtown Long Beach.
      404 W Beach Blvd, Pass Christian, MS 39571
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo
      1,900 SF

      Retail Space in Pass Christian

      Retail space available for lease in Pass Christian, MS.
      254 E Second St, Pass Christian, MS 39571
      View Details
    • Contact for pricing

      Prime Retail Space on I-10

      4,569 SF retail space with high I-10 visibility.
      8088 Menge Ave, Pass Christian, MS 39571
      View Details
    • Contact for pricing
      13,600 SF

      Retail Space on Firetower Road

      Retail space available for lease on Firetower Road.
      8292-8294 Firetower Rd, Pass Christian, MS 39571
      View Details
    • $1,200 /Mo
      1,400 SF

      Commercial Space in Diamondhead

      Spacious commercial office space with high visibility and foot traffic.
      16840 Kapalama Dr Lot, Pass Christian, MS 39571
      View Details
    View Listing
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    601 Josephine St
    Pass Christian, MS 39571
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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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