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West Community Center 10573 Hwy 49 6,350 SF 100% Leased Retail Building Gulfport, MS 39503 $2,170,000 ($341.73/SF) 7.87% Cap Rate
INVESTMENT HIGHLIGHTS
- Corner Location on US Hwy 49 Just North of I-10
- Far side of intersection
- Signaled Intersection
- High Traffic Counts
EXECUTIVE SUMMARY
THIS IS THE SALE OF A 16TH SECTION SCHOOL LAND LEASEHOLD INTEREST. THIS IS NOT A FEE SIMPLE SALE
FINANCIAL SUMMARY (ACTUAL - 2022) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$170,702
|
$26.88
|
| Other Income |
$56,295
|
$8.87
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$226,997
|
$35.75
|
| Taxes |
$7,116
|
$1.12
|
| Operating Expenses |
$49,179
|
$7.74
|
| Total Expenses |
$56,295
|
$8.87
|
| Net Operating Income |
$170,702
|
$26.88
|
FINANCIAL SUMMARY (ACTUAL - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $170,702 |
| Annual Per SF | $26.88 |
| Other Income | |
|---|---|
| Annual | $56,295 |
| Annual Per SF | $8.87 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $226,997 |
| Annual Per SF | $35.75 |
| Taxes | |
|---|---|
| Annual | $7,116 |
| Annual Per SF | $1.12 |
| Operating Expenses | |
|---|---|
| Annual | $49,179 |
| Annual Per SF | $7.74 |
| Total Expenses | |
|---|---|
| Annual | $56,295 |
| Annual Per SF | $8.87 |
| Net Operating Income | |
|---|---|
| Annual | $170,702 |
| Annual Per SF | $26.88 |
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Building Size
6,350 SF
Building Class
B
Year Built
2016
Price
$2,170,000
Price Per SF
$341.73
Cap Rate
7.87%
NOI
$170,702
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.02
Lot Size
6.75 AC
Zoning
B-4 - Highway Commercial
Parking
74 Spaces (11.65 Spaces per 1,000 SF Leased)
AMENITIES
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Drive Thru
- Air Conditioning
TRAFFIC
| COLLECTION STREET | CROSS STREET | TRAFFIC VOLUME | YEAR | Distance |
|---|---|---|---|---|
| Community Rd | 10th St, N | 48,975 | 2022 | 0.10 mi |
| 10th St | Community Rd, S | 48,118 | 2018 | 0.22 mi |
| 10th St | Crossroads Pkwy, NW | 61,033 | 2022 | 0.41 mi |
| 10th St | I- 10, E | 5,263 | 2022 | 0.62 mi |
| 10th St | I- 10, S | 3,674 | 2022 | 0.62 mi |
| Darran Street | David St, NW | 447 | 2022 | 0.63 mi |
| I- 10 | 10th St, SW | 7,546 | 2022 | 0.66 mi |
| 10th St | I- 10, NE | 4,965 | 2022 | 0.77 mi |
| I- 10 | 10th St, NE | 6,057 | 2022 | 0.78 mi |
| Orange Grove Blvd | Kings St, W | 4,349 | 2022 | 0.78 mi |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0809D-03-001.000 | Total Assessment | $502,518 (2024) |
| Land Assessment | $0 (2024) | Annual Taxes | $7,116 ($1.12/SF) |
| Improvements Assessment | $0 (2024) | Tax Year | 2022 Payable 2023 |
PROPERTY TAXES
Parcel Number
0809D-03-001.000
Land Assessment
$0 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$502,518 (2024)
Annual Taxes
$7,116 ($1.12/SF)
Tax Year
2022 Payable 2023
MAP
ADDITIONAL PHOTOS
Building Photo
Building Photo
Signage
Aerial
Aerial
Floor Plan