Office/Retail Investment Property For Sale

Retail-Commercial for Sale
Catylist Listing ID: 29659077
Property Subtypes: Free-Standing Building
Building Size (RSF): 5,000 SF
Sale Price: $925,000
Unit Price: $185 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 7.02%
Last Updated: 11/17/2017

Overview / Comments

This 5,000 SF retail property is located just blocks away from Keesler Air Force Base, located within the city limits of Biloxi, MS on the Mississippi Gulf Coast. The 5,000 SF building is leased to Metro Treatment of Mississippi, LP through July 2021 with a net annual operating income of $65,000.

Biloxi is a cultural melting pot set against a backdrop of sugar-white sand beaches, great deep-sea or freshwater fishing, an array of championship golf courses, museums and historic sites, tantalizing seafood restaurants, and the excitement of 24-hour non-stop casino resorts.

The Keesler AFB host unit, the 81st Training Wing, is the electronics training Center of Excellence for the U.S. Air Force. Keesler's training center handles more than 28,000 students annually, in 400 courses covering 37 different career fields. In its status as a lead joint training installation, Keesler trains not only Air Force, but Army, Navy, Marine Corps, Coast Guard, and other military and civilian federal agency personnel. According to the City of Biloxi, Keesler provides an impact of over $700 million to the local economy. (http://www.biloxi.ms.us/)

Attachments & Media

Current Tenants

Tenant Business Name Metro Treatment of Mississippi, LP
Industry Type Health Care and Social Assistance
Is Renting? Yes
Current Rent $13 PSF (Annual)
Lease Expiration 7/0031
Options Two 5-year options with increases based on CPI, not to exceed 10%
Tenant Notes Metro Treatment of Mississippi is owned and operated by Colonial Management Group (CMG). CMG has been operating treatment centers throughout the United States since 1986 and currently operates 66 treatment centers in 19 states.

Additional Details

Nearest MSA: Gulfport-Biloxi-Pascagoula
County: Harrison
Market Type: Medium
Side of Street: North
Road Type: Paved
Property Visibility: Excellent
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,000 SF
Property Condition: Good
Roof Type: Other

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,523 34,480 64,394
Median Age: 32.17 34.6 35.53
Households: 4,237 13,133 25,135
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