602 Division StBiloxi, MS 39530

Property Details for 602 Division St

Year built

1989

Lot size

0.65 AC

Property size (Sq ft)

8,318 SF

Property type

Retail residential properties

APN

1410G-05-047.001

APU

1410G05047001

Description

This exceptional investment opportunity presents a 7,980 square foot Family Dollar storefront in Biloxi, Mississippi. The property boasts a strong 7.75% cap rate and a substantial net operating income (NOI) of $79,800. Situated on a 0.55-acre lot at 602 Division St, this location benefits from its proximity to I-110 (57,000 vehicles daily) and Keesler Air Force Base (28,000+ students annually). Family Dollar, a BBB- rated tenant with a corporate guarantee, recently signed a 7-year lease extension commencing January 1, 2025, with three 5-year renewal options. The property has a 30+ year operating history and enjoys a 100% occupancy rate. The location is strategically positioned less than 1.3 miles from the Beau Rivage Resort & Casino and serves a desirable demographic with average household incomes exceeding $52,700 within a 1-mile radius and $69,100 within a 3-mile radius. This is the only dollar store east of Kessler Air Force Base, offering limited competition and strong walk-in traffic from surrounding neighborhoods. The asking price is $1,030,000, translating to $129.07 per square foot. This is a rare opportunity to acquire a stable, high-performing retail investment with a long-term, creditworthy tenant. The building was constructed in 1989.

• CAP approach

  CAP return

  Valuation

  6%

  $1,635,660

  6.5%

  $1,509,840

  7%

  $1,401,995

• Comparable approach

  Method

  Valuation

  Relative Method

  $983,482

  Geo Method

  $916,556

• Alternative Use

  Use

  Valuation

  Residential

  $1,509,840

  Hospitality

  $1,383,006

  Educational

  $1,150,644

  Medical

  $1,190,217

  Retail

  $1,789,891

Location Insight

City

Biloxi

County

Harrison

State

Mississippi

Latitude

30.4036

Longitude

-88.882

CBSA code

25060

CBSA name

GULFPORT-BILOXI, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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