Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    998 North Halstead Rd Ocean Springs, MS 39564

    • Drug stores
    • 6,504 SF
    • 0.46 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    Jun 16, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US50-0929732
    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

    • Coastal Pharmacy / Pharmacy
    • Advanced Pharmaceuticals / Pharmacy

    Property Details for 998 North Halstead Rd

    Year built
    2015
    Lot size
    0.46 lot acres
    Property size
    6,504 SF
    Property type
    Drug stores
    APN
    61057209.000
    APU
    61057209000

    Description

    This exceptional two-story office building, totaling 8,000 square feet, is situated on a 0.47-acre lot in the desirable Ocean Springs, MS location at 998 N Halstead Rd. Currently fully vacant, the space offers flexible options with a minimum divisible unit of 4,000 square feet and a maximum contiguous space of 8,000 square feet, perfect for a single tenant or multiple occupants. The building boasts a Class B rating and features modern amenities including a convenient drive-up window, an elevator providing easy access to the second story, and attractive stained concrete floors. The open floor plan allows for versatile configurations to suit various business needs. Its previous use as a pharmacy speaks to its functionality and adaptability. Located in Ocean Springs, this property benefits from high visibility and easy access, within a thriving coastal community that offers a supportive business environment and ample parking. The Jackson County property (APN: 61057209) presents a unique opportunity for businesses seeking a prominent and functional space in a vibrant location. The entire 8,000 square feet is available for lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $675,000
      Market price range: $269k - $913k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $630,000
      Current use
      COMMERCIAL (GENERAL)
      $1,020,000
      Change: +62% Conversion: Easy
      OFFICE BUILDING
      $770,000
      Change: +22% Conversion: Easy
      AUTO REPAIR, GARAGE
      $665,000
      Change: +6% Conversion: Difficult
      RESTAURANT
      $635,000
      Change: +1% Conversion: Easy
      WAREHOUSE, STORAGE
      $565,000
      Change: -10% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $525,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Springs
    County
    Jackson
    State
    Mississippi
    Longitude
    -88.8
    Latitude
    30.4135
    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
    $12,190
    $9,045
    $74,659
    $83,704
    -
    $60,300
    $497,720
    $558,020

    Comparable in this City

    • Value Estimation by Request
      2,820 SF

      1121 Ocean Spgs Rd

      DRUG STORE, PHARMACY • 2,820 SF
      1121 Ocean Spgs Rd, Ocean Springs, MS 39564-3421
      View Details
    • Value Estimation
      $1,185,000
      12,212 SF

      2190 Bienville Blvd

      DRUG STORE, PHARMACY • 12,212 SF
      2190 Bienville Blvd, Ocean Springs, MS 39564-3017
      View Details
    • Value Estimation by Request
      1,500 SF

      995 Halstead Rd

      DRUG STORE, PHARMACY • 1,500 SF
      995 Halstead Rd, Ocean Springs, MS 39564-3105
      View Details
    • Value Estimation by Request
      2,400 SF

      6390 Washington Ave

      DRUG STORE, PHARMACY • 2,400 SF
      6390 Washington Ave, Ocean Springs, MS 39564-2301
      View Details
    • Value Estimation by Request
      2,776 SF

      2120 Bienville Blvd

      DRUG STORE, PHARMACY • 2,776 SF
      2120 Bienville Blvd, Ocean Springs, MS 39564-3017
      View Details
    • Value Estimation
      $1,240,000
      11,528 SF

      3082 Bienville Blvd

      DRUG STORE, PHARMACY • 11,528 SF
      3082 Bienville Blvd, Ocean Springs, MS 39564-4354
      View Details

    Similar Nearby for Sale

    • $66,000
      3,000 SF

      Ocean Springs Retail Build-to-Suit

      Prime 3,000 SF vacant lot, ideal for pharmacy.
      3082 Bienville Blvd, Ocean Springs, MS 39564
      View Details
    • $345,000

      Commercial Space on Government Street

      Prime location for office or retail in Ocean Springs.
      201 Walnut Dr, Ocean Springs, MS 39564
      View Details
    • $1,350,000
      6,000 SF

      Ocean Springs Retail Opportunity

      Three parcels with a 6,000 SF building for sale.
      6514 Washington Ave, Ocean Springs, MS 39564
      View Details
    • $395,000
      0.12 Acres

      Prime Highway 90 Commercial Opportunity

      High-visibility commercial property in Ocean Springs' dynamic corridor.
      1807 School St, Ocean Springs, MS 39564
      View Details
    • $1,900,000
      2,796 SF

      Prime Downtown Ocean Springs Location

      Double corner lot in downtown Ocean Springs, MS.
      601 Washington Ave, Ocean Springs, MS 39564
      View Details
    • New
      $799,000
      1,620 SF

      Historic Commercial Structure in Ocean Springs

      Prime downtown location suitable for restaurant, retail, or residential use.
      1705 Government St, Ocean Springs, MS 39564
      View Details

    Similar Nearby for Lease

    • $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
    • $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
    • $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
    • Contact for pricing
      15,665 SF

      Ocean Springs Flex Space Available

      Prime Flex Space, 15,665 SF Available
      3100 Bienville Blvd, Ocean Springs, MS 39564
      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.
    998 North Halstead Rd
    Ocean Springs, MS 39564
    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.
    Sign Up Successful!
    You now have access to more from Realmo!