2304 14Th StGulfport, MS 39501

Property Details for 2304 14Th St

Year built

1919

Lot size

0.14 AC

Property size (Sq ft)

3,470 SF

Property type

Office properties

Property subtype

Other office properties

APN

0811K-03-003.000

APU

0811K03003000

Description

This exceptional commercial property in downtown Gulfport, Mississippi, offers two connected office buildings totaling 5,264 square feet for sale at $850,000. The main building, a fully renovated 3,464 square-foot executive office space, is currently occupied by a securities brokerage firm. The owner may consider a lease-back option. A second, 1,800-square-foot building is under construction, nearing completion as a "vanilla shell" – including sheetrock walls, plumbing (but no fixtures), and no flooring. This addition will feature a kitchen and bathrooms. Both buildings are connected by an interior door. The existing office includes separate male and female restrooms. An attached 800-square-foot garage provides ample parking. The property is commercially zoned and boasts a prime downtown location. The existing building underwent a complete renovation in 2005. This presents a unique opportunity to acquire a versatile property with immediate income potential and expansion possibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $550,278

  6.5%

  $507,949

  7%

  $471,667

• Comparable approach

  Method

  Valuation

  Relative Method

  $264,695

  Geo Method

  $246,682

• Alternative Use

  Use

  Valuation

  Residential

  $629,856

  Hospitality

  $576,945

  Educational

  $480,012

  Medical

  $496,520

  Retail

  $746,685

Location Insight

City

Gulfport

County

Harrison

State

Mississippi

Latitude

30.3684

Longitude

-89.0907

CBSA code

25060

CBSA name

GULFPORT-BILOXI, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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