602 Division St Biloxi, MS 39530-2341
- Retail residential properties
- 8,318 SF
- 0.65 lot acres
Current Use by Public Records
- Family Dollar / Discount Store / School Supply Store
Property Details for 602 Division St
- Year built
- 1989
- Lot size
- 0.65 lot acres
- Property size
- 8,318 SF
- Property type
- Retail residential properties
- APN
- 1410G-05-047.001
- APU
- 1410G05047001
Description
This exceptional investment opportunity presents a 7,980 square foot Family Dollar storefront in Biloxi, Mississippi. The property boasts a strong 7.75% cap rate and a substantial net operating income (NOI) of $79,800. Situated on a 0.55-acre lot at 602 Division St, this location benefits from its proximity to I-110 (57,000 vehicles daily) and Keesler Air Force Base (28,000+ students annually). Family Dollar, a BBB- rated tenant with a corporate guarantee, recently signed a 7-year lease extension commencing January 1, 2025, with three 5-year renewal options. The property has a 30+ year operating history and enjoys a 100% occupancy rate. The location is strategically positioned less than 1.3 miles from the Beau Rivage Resort & Casino and serves a desirable demographic with average household incomes exceeding $52,700 within a 1-mile radius and $69,100 within a 3-mile radius. This is the only dollar store east of Kessler Air Force Base, offering limited competition and strong walk-in traffic from surrounding neighborhoods. The asking price is $1,030,000, translating to $129.07 per square foot. This is a rare opportunity to acquire a stable, high-performing retail investment with a long-term, creditworthy tenant. The building was constructed in 1989.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Biloxi
- County
- Harrison
- State
- Mississippi
- Longitude
- -88.882
- Latitude
- 30.4036
- CBSA code
- 25060
- CBSA name
- GULFPORT-BILOXI, MS METROPOLITAN STATISTICAL AREA
