1422 Pass RdGulfport, MS 39507

Property Details for 1422 Pass Rd

Year built

2000

Lot size

1.20 AC

Property size (Sq ft)

11,140 SF

Property type

Retail residential properties

APN

1010F-02-029.000

APU

1010F02029000

Description

This exceptional 10,908-square-foot freestanding retail building presents a unique investment opportunity in the thriving Gulfport/Biloxi submarket. Situated on a 1.2-acre outparcel at the corner of E. Pass Rd. and Cowan Rd., this Class A property boasts unparalleled visibility and accessibility. Originally constructed in 2000 and extensively renovated in 2015, the building offers a single-tenant occupancy with ample parking (51 spaces). The property's zoning is Commercial, allowing for a variety of uses. The building features electric power and benefits from prominent pylon and building front signage opportunities. Taxes are $1.63 per square foot. A sublease is currently in place, expiring October 31, 2025. This one-story structure presents a compelling opportunity for owner-occupancy or investment, capitalizing on its prime location and strong potential for future growth within a busy commercial area. The property's size and location make it ideal for a variety of retail uses. Don't miss this chance to acquire a highly visible and well-maintained retail property in a desirable coastal market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,977,960

  6.5%

  $1,825,810

  7%

  $1,695,400

• Comparable approach

  Method

  Valuation

  Relative Method

  $866,764

  Geo Method

  $807,781

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,432,130

  Retail / Commercial

  $1,800,390

  Hospitality / Lodging

  $1,381,000

  Office

  $1,848,130

  Institutional / Educational

  $1,909,490

  Residential Income

  $2,234,100

  Multifamily

  $2,502,930

  Automotive / Energy

  $1,636,710

  Parking / Income-Based Land

  $533,346

  Restaurant / Food Service

  $1,017,580

  Healthcare / Senior Housing

  $1,839,680

Location Insight

City

Gulfport

County

Harrison

State

Mississippi

Latitude

30.3993

Longitude

-89.026

CBSA code

25060

CBSA name

GULFPORT-BILOXI, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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