15007 Creosote Road, Gulfport, MS 39503 (MLS# 4055674)
15007 Creosote Road, Gulfport, MS 39503
$1,095,000
Property Type:
Commercial Sale
Square Footage:
9,600
Lot Size (sq. ft.):
60,984
Status:
Closed
Current Price:
$1,095,000
List Date:
8/11/2023
Last Modified:
2/25/2026
Overview
Description
9,600 square foot retail strip center built in 2009. Historically, this property has remained fully occupied with the seller in 4,800 s.f. The seller recently moved out and has already leased up 3,600 s.f. with only 1,200 remaining to be leased. The chiropractic clinic is expanding to 3,600 s.f to the other side of the salon, and a nutrition store is moving into the current chiropractor space. We are offering this easy to manage investment opportunity at an attractive 8.6% actual cap rate. The proforma cap rate with the last space leased is a whopping 9.8% with a 5% vacancy factor.
This is a really nice and attractive metal building with stucco coated panels all around. It has over 40 parking spaces and additional land for development.
Average daily traffic counts directly in front of the property exceed 11,000 with additional exposure to another 11,000 vehicles traveling on Three Rivers Road. Easy access to Hwy 49, I-10, and Gulfport-Biloxi International Airport.
Listing Details MLS# 4055674
General Property Information
- Approx Lot Size Acres
- 1.4
- Approx H/C SqFt
- 9600
- SqFt Source
- Owner
- List Price/SqFt
- 114.06
- Year Built
- 2009
- Year Built Source
- Assessor
- Total Floors
- Yes
- Accessibility Features
- Yes
- Property Sub Type
- Retail
- New Construction
- No
- Property Condition
- Updated/Remodeled
Property Features
Current Use:
Retail
Address and Location Information
- Street Number
- 15007
- Street Name
- Creosote
- Street Suffix
- Road
- County
- Harrison
- State
- MS
- Zip Code
- 39503
- Nearest Cross Street
- Three Rivers Road
- Parcel Number
- 0809k-01-001.000
- N or S of I-10
- S
- N or S of CSX Railroad Track
- N
Listing Information
- Property Sub Type
- Retail
- Listing Service
- Full Service
Tax and Financial Information
- Tax Annual Amount
- 11277
- Tax Year
- 2022
- Zoning
- B2
- Flood Insurance Required?
- No
- Leasehold Y/N
- No
- Legal Description
- 1.4 AC BEG 1071.6 FT N OF SE COR OF NE1/4 OF NE1/4 OF SEC 21 N 88 DGS W 250.9 FT N 240.5 FT TO SLY MAR OF CREOSOTE RD ELY ALONG RD 253.6 FT S 249.2 FT TO POB PART OF NE1/4 OF NE1/4 OF SEC 21-7-11
Status Change Info
- Contract Date/Pending Date
- 2023-08-28
- Closing Date
- 2023-12-13
- Sold Price/SqFt
- 114.06
More Information
Auction
- Auction
- No
Showing Requirements
- Showing
- Appointment Required
Basement Features
- Basement
- No
Remarks & Miscellaneous
- Public Remarks
- 9,600 square foot retail strip center built in 2009. Historically, this property has remained fully occupied with the seller in 4,800 s.f. The seller recently moved out and has already leased up 3,600 s.f. with only 1,200 remaining to be leased. The chiropractic clinic is expanding to 3,600 s.f to the other side of the salon, and a nutrition store is moving into the current chiropractor space. We are offering this easy to manage investment opportunity at an attractive 8.6% actual cap rate. The proforma cap rate with the last space leased is a whopping 9.8% with a 5% vacancy factor. This is a really nice and attractive metal building with stucco coated panels all around. It has over 40 parking spaces and additional land for development. Average daily traffic counts directly in front of the property exceed 11,000 with additional exposure to another 11,000 vehicles traveling on Three Rivers Road. Easy access to Hwy 49, I-10, and Gulfport-Biloxi International Airport.
Current Use
- Retail
- Yes
Uncovered Parking?
- 26-50 Spaces
- Yes
Listing Office:
Molyneaux Group, LLC
Listing Agent:
Doug J Molyneaux
Last Updated: February - 25 - 2026
Information is deemed to be reliable but not guaranteed. Copyright 2022 MLS United, LLC.