124 Fayard StBiloxi, MS 39530

Property Details for 124 Fayard St

Year built

1930

Lot size

0.07 AC

Property size (Sq ft)

1,926 SF

Property type

Office properties

APN

1410K-03-145.001

APU

1410K03145001

Description

This unique commercial property, located at 124 Fayard Street in Biloxi, MS, 39530, presents a rare opportunity in the Central Business District. The property consists of a single-tenant, unfurnished studio apartment situated on the second floor of a historically renovated building. Built in 1930, this two-story structure offers a blend of character and modern convenience. The studio is ideal for a variety of uses, benefiting from its quiet and comfortable atmosphere. The 0.07-acre lot provides ample space for potential future development or expansion. The building itself comprises one structure with no elevators. The property's zoning designation is Central Business District, reflecting its prime location within the heart of Biloxi's commercial activity. The Harrison County APN is 1410k-03-145.001. Rent includes a $150 utility allowance. This offering represents a compelling investment opportunity for those seeking a distinctive commercial space in a vibrant and historic setting. The property's historical significance and central location combine to create a unique and attractive proposition for discerning buyers. The single-tenant occupancy simplifies management and offers immediate income potential.

• CAP approach

  CAP return

  Valuation

  6%

  $305,428

  6.5%

  $281,934

  7%

  $261,795

• Comparable approach

  Method

  Valuation

  Relative Method

  $146,917

  Geo Method

  $136,919

• Alternative Use

  Use

  Valuation

  Residential

  $349,598

  Hospitality

  $320,229

  Educational

  $266,427

  Medical

  $275,590

  Retail

  $414,442

Location Insight

City

Biloxi

County

Harrison

State

Mississippi

Latitude

30.3951

Longitude

-88.8908

CBSA code

25060

CBSA name

GULFPORT-BILOXI, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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