4506 W Railroad St

Office for Sale
Catylist Listing ID: 30328296
Property Subtypes: Medical
Building Size (RSF): 6,889 SF
Gross Building Area: See Agent
Gross Land Area: 0.92 Acres
Sale Price: $675,000
Unit Price: $97.98 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class B
Usable Size (USF): 6,889 SF
Sale Terms: Cash to Seller
Cap Rate: 9.25%
Average Occupancy Rate: 100
Last Updated: 10/29/2018

Overview / Comments

Established medical building in Gulfport, just ~1/3 of a mile from Memorial Hospital. Property has been well maintained and currently under a new three year lease. Interior of building includes ~42 seat waiting room, 12 Exam Rooms, 4-6 private doctor offices, multiple nurse stations, business/billing offices, and file/records rooms. Good ingress/egress to/from parking lot with ~36 spaces, and a covered canopy at entry.

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $11,350 (Annual)
Tax Value Land $66,715
Tax Value Improvements $492,680
Potential Rental Income $72,000 (Annual)
Gross Operating Income $68,400 (Annual)
Net Operating Income $65,217 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Gulfport-Biloxi-Pascagoula
County: Harrison
Tax ID/APN: 0711j-07-052.000
Zoning: GENERAL BUSINESS
Property Located Between: West Railroad Street and Woodward Avenue
Property Visibility: Excellent
Highway Access: Highway 90
Area Description: Near Memorial Hospital
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1940
Roof Type: Flat
Construction/Siding: Stucco
Parking Type: Surface
Total Parking Spaces: 25
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Package Unit
Interior Description: Interior of building includes ~42 seat waiting room, 12 Exam Rooms, 4-6 private doctor offices, multiple nurse stations, business/billing offices, and file/records rooms. Good ingress/egress to/from parking lot with ~36 spaces, and a covered canopy at entry.
Lot Frontage: 219'
Lot Depth: 182'
Water Service: Municipal
Sewer Type: Municipal
Legal Description: BEG AT INTER OF N MAR OF RAILROAD ST & W MAR OF WOODWARD AVE SWLY ALONG RAILROAD ST 221.9 FT N 28 DG 151.8 FT N 62 DG E

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,040 28,562 47,411
Median Age: 35.79 35.17 37.05
Households: 2,212 10,994 18,646

Contact

Photograph of Listing Agent

Tim Carlson

Southeast Commercial
Gulfport, MS
Photograph of Listing Agent

Monte Luffey

Southeast Commercial of MS, LLC
Gulfport, MS
The information presented herein is provided as is, without warranty of any kind. Neither Gulf Coast CMLS nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.