2015 Pass RdBiloxi, MS 39531

Property Details for 2015 Pass Rd

Year built

1984

Lot size

0.20 AC

Property size (Sq ft)

2,360 SF

Property type

Retail space

APN

1210F-03-017.003

APU

1210F03017003

Description

This 2,360 square foot retail property, located at 2015 Pass Rd, Biloxi, MS 39531, is zoned NB-Neighborhood Business and sits on an 8,712 square foot lot. Built in 1984, the building offers significant potential beyond its previous use as a Meineke Muffler Shop. The property features three bays, equipped with substantial lifting equipment: a red Rotary 2-post swing arm lift (9,000+ lbs capacity), a blue Ben Pearson LMT-9 4-post drive-on lift (9,000 lbs capacity), and a yellow Ben Pearson LMT-12 4-post drive-on lift (12,000 lbs capacity). Access is provided by two 10-foot and one 12-foot roll-up doors. The asking price is $199,000, translating to $84.32 per square foot. Its strategic location in Biloxi, Harrison County, presents a unique opportunity for various businesses, potentially capitalizing on the annual Cruzin' the Coast classic car event. The property's size and existing infrastructure offer considerable flexibility for adaptive reuse. This is an exceptional opportunity for an investor seeking a versatile commercial space in a high-traffic area.

• CAP approach

  CAP return

  Valuation

  6%

  $413,195

  6.5%

  $381,411

  7%

  $354,167

• Comparable approach

  Method

  Valuation

  Relative Method

  $187,224

  Geo Method

  $174,483

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $727,093

  Mixed-Use / Specialty

  $386,797

  Hospitality / Lodging

  $292,564

  Office

  $391,526

  Institutional / Educational

  $404,524

  Residential Income

  $473,293

  Multifamily

  $530,243

  Automotive / Energy

  $346,735

  Parking / Income-Based Land

  $112,989

  Restaurant / Food Service

  $215,573

  Healthcare / Senior Housing

  $389,735

Location Insight

City

Biloxi

County

Harrison

State

Mississippi

Latitude

30.4023

Longitude

-88.9561

CBSA code

25060

CBSA name

GULFPORT-BILOXI, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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