12251 Bernard PkwyGulfport, MS 39503

Property Details for 12251 Bernard Pkwy

Property size (Sq ft)

30,444 SF

Property type

Parking lots & garages

APN

0908P-02-001.004

APU

0908P02001004

Description

This exceptional Class A medical office building, totaling 36,386 square feet, is situated at 12251 Bernard Parkway in Gulfport, Mississippi, zip code 39503, Harrison County. Built in 2007 and recently renovated in 2023 with approximately $2 million in upgrades, the property boasts a 6.02% cap rate and is priced at $7,900,000 (approximately $217 per square foot). Currently 100% occupied by Blue Cliff College under a new 15-year lease with a 3% annual rental increase, this investment presents an opportunity for accelerated depreciation. The building enjoys a highly visible location with 900 feet of frontage on I-10, providing excellent access and exposure. Blue Cliff College, established at this location since 2007, offers a diverse range of training programs including nursing, clinical medical assisting, dental assisting, health information management, billing and coding, cosmetology, and massage therapy. The property's APN is 0908P-02-001.000. This is a rare opportunity to acquire a high-quality, income-producing medical office building in a prime Gulf Coast location.

• CAP approach

  CAP return

  Valuation

  6%

  $5,330,210

  6.5%

  $4,920,200

  7%

  $4,568,750

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,415,190

  Geo Method

  $2,250,830

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,379,500

  Mixed-Use / Specialty

  $4,989,680

  Hospitality / Lodging

  $3,774,070

  Office

  $5,050,680

  Institutional / Educational

  $5,218,360

  Residential Income

  $6,105,480

  Multifamily

  $6,840,140

  Automotive / Energy

  $4,472,880

  Parking / Income-Based Land

  $1,457,560

  Restaurant / Food Service

  $2,780,900

  Healthcare / Senior Housing

  $5,027,580

Location Insight

City

Gulfport

County

Harrison

State

Mississippi

Latitude

30.4425

Longitude

-89.038

CBSA code

25060

CBSA name

GULFPORT-BILOXI, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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