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    929 Washington Ave Ocean Springs, MS 39564-4639
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    Property profile & analytics

    929 Washington Ave Ocean Springs, MS 39564-4639

    View on Map
    • Retail properties & Spaces
    • 5,152 SF
    • 0.08 lot acres
    Off-Market
    Last Sale May 4, 2020
    Property ID
    US50-0146200
    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

    • The Hemingway / Hotel & Motel
    • Mimi Reinke Design / Clothing & Fashion Store

    Property Details for 929 Washington Ave

    Year built
    1912
    Lot size
    0.08 lot acres
    Property size
    5,152 SF
    Property type
    Retail properties & Spaces
    APN
    60119134.000
    APU
    60119134000

    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
    Ocean Springs
    County
    Jackson
    State
    Mississippi
    Longitude
    -88.828
    Latitude
    30.4149
    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
    $7,649
    $12,969
    $39,554
    $52,523
    -
    $86,460
    $263,693
    $350,153

    Comparable in this City

    • Value Estimation
      $635,000
      6,048 SF

      630 Washington Ave

      DEPARTMENT STORE • 6,048 SF
      630 Washington Ave, Ocean Springs, MS 39564-4634
      View Details
    • Value Estimation by Request
      3,348 SF

      613 1st Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,348 SF
      613 1st Ave, Ocean Springs, MS 39564-3708
      View Details
    • Value Estimation by Request
      2,100 SF

      428 Porter Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,100 SF
      428 Porter Ave, Ocean Springs, MS 39564-3716
      View Details
    • Value Estimation by Request
      110,127 SF

      1525 Bienville Blvd

      Lifestyle centers • 110,127 SF
      1525 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • Value Estimation by Request
      3,428 SF

      1202 Government St

      DEPARTMENT STORE • 3,428 SF
      1202 Government St, Ocean Springs, MS 39564-3820
      View Details
    • Value Estimation by Request
      4,500 SF

      107 Industrial Park Cir

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,500 SF
      107 Industrial Park Cir, Ocean Springs, MS 39564-5835
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,400 SF

      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.
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    • $1,350,000
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      Ocean Springs Retail Opportunity

      Three parcels with a 6,000 SF building for sale.
      6514 Washington Ave, Ocean Springs, MS 39564
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    • Contact for pricing
      3,000 SF

      Ocean Springs Build to Suit

      Build-to-suit opportunity near Highway 90 and Ocean Springs Hospital.
      3082 Bienville Blvd, Ocean Springs, MS 39564
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    • $895,000

      Commercial Lot with Retail/Storage

      1.27-acre commercial lot with retail and storage operation.
      4025 Bienville Blvd, Ocean Springs, MS 39564
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    • $895,000
      55,321 SF

      Commercial Lot with Retail Store

      1.27-acre commercial lot with retail and storage units.
      4025 Bienville Blvd, Ocean Springs, MS 39564
      View Details

    Similar Nearby for Lease

    • $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
    • Contact for pricing

      Parkside Square Retail/Office/Warehouse Space

      Retail, office, and warehouse spaces available in Parkside Square.
      3100 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $24 SF/Yr
      3,900 SF

      Downtown Commercial Space For Rent

      Versatile commercial space in vibrant downtown Ocean Springs.
      2005 Government St, Ocean Springs, MS 39564
      View Details
    • $1,500 /Mo
      1,284 SF

      Retail Space in Ocean Springs

      Retail space available in Ocean Springs, Mississippi.
      3827 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
      View Details
    • $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
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    Ocean Springs, MS 39564-4639
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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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