Gautier Place Office/Retail Investment Property For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30022247
Property Subtypes: Free-Standing Building
Building Size (RSF): 5,751 SF
Gross Building Area: See Agent
Gross Land Area: 0.92 Acres
Sale Price: $1,050,000
Unit Price: $182.58 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/1/2017

Overview / Comments

This 5,751 SF retail property is located centrally within the city limits of Gautier, MS on the Mississippi Gulf Coast. Approximately 4,032 SF is leased to the United States Government through April 6, 2019 and utilized as an Armed Forces recruiting center. The remaining 1,719 SF is leased to building is leased to World Finance Company of Mississippi, LLC through July 2020. The current net annual operating income is $74,779.63.

The property is located in a developed area near nationally-recognized tenants including Sonic, Burger King, O'Reilly Auto Parts, and Waffle House and across Highway 90 from Lowe's. The owners of the former Singing River Mall property nearby have announced that they will invest $90 million in redeveloping the site into a 380,000 SF open-air mall. Highway 90 Road runs East and West and is the main traffic corridor along the Mississippi Gulf Coast. The area is south of Interstate 10 and on the south side of Highway 90. The city of Ocean Springs is located to the West and the city of Pascagoula is to the east.

The traffic count on Highway 90 near the city center is over 37,000 automobiles per day. Gautier boasts the Jackson County Campus of the Mississippi Gulf Coast Community College System, and a regional 600,000 square foot shopping mall. Gautier attracts retirees and families alike because of the two excellent 18-hole golf courses, state park, festivals, senior citizens center, and gated residential areas.

Attachments & Media

Current Tenants

Tenant Business Name United States of America
Is Renting? Yes
Suite Number A
SF of Space Occupied 4,032 SF
Current Rent $27 PSF (Annual)
Lease Expiration 4/2019
Tenant Notes In addition to $12.00 PSF in base rent, the Tenant pays $15.27 PSF in additional rent for CAM, taxes, insurance, janitorial, utilities, and other services described in the lease.
Tenant Business Name World Finance Company of Mississippi, LLC
Is Renting? Yes
SF of Space Occupied 1,719 SF
Current Rent $10 PSF (Annual)
Lease Expiration 7/2020
Options One two-year option at $1,650 per month ($11.52 PSF)

Additional Details

Nearest MSA: Gulfport-Biloxi-Pascagoula
County: Jackson
Taxing Authority: Jackson County, Mississippi
Tax ID/APN: 82435240.275
Zoning: TC - TOWN CENTER

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 12,222 28,306
Median Age: 35.78 35.31
Households: 4,577 10,352
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