2602 13th Street, Gulfport, MS 39501

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Sherry L O.

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Suite Space Type Pricing Size
--- Office Space For lease: $4,500,000/mo 20,805 sqft

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Building Details:

• Year Built: 1903

2602 13th Street is an office property for lease in Gulfport, MS. The property currently has 1 office space for lease and is marketed by Owen and Co. LLC.

Rare opportunity in the City of Gulfport, Downtown Harbor Square Historic District to own two multi-tenant Commercial Buildings that are among the oldest buildings in Gulfport. These buildings have enjoyed a stabilized occupancy for several years and are currently 100% occupied among 9 tenants.

Built in 1903, with similar construction, with post-and-beam frame and heavy brick exterior and major partition walls (13 to 17 in thick). Each building has attractive architectural details. The First National Bank Building was identified as being a “pivotal” structure in the district; this is the highest status assigned to buildings in a historic district and represents buildings whose demolition or deterioration would have a major impact on the desirability of the historic district as a whole. The Milner Building is called a “contributing” structure, which is the second highest status and represents buildings which are essential to the district’s sense of place and sustain the architectural and historical significance of the district. 50% of all buildings in the Historic District are designated as “contributing”.

They are being sold together, are fully renovated and are both 2 story. They encompass 11,100 square feet (0.25 acres) of land, with a gross building area of 20,805 s.f. and a leasable area of 17,442 s.f. The ceiling clearance in the First National Bank Building 1st Floor is 17’+/-, the Milner Building is 14’ +/-, with both buildings 2nd Floor +/- 11’-12’.

Although there are two parcel #’s associated with these buildings, the second parcel # is used solely to administer the in place tax abatements that are due to expire in 2019.

This site is located near two commercial thoroughfares, Highway 49 (N/S) and US Highway 90 (E/W).

Transect-5 Zoning is the second highest classification in the SmartCode regulations for the city. Transect 5 is an “Urban Center Zone” that consists of higher density mixed-use building types that accommodate retail, offices, row houses and apartments. Buildings may be as much as 8 stories, but must contain at least 2 stories. Other considerations should be verified with the City of Gulfport Zoning Department.

Most of the development in the downtown area is a mixture of bank offices, professional offices, small retail shops, restaurants, nightclubs, neighborhood lounges and similar uses. Over the past 10 years, downtown Gulfport has developed into one of the leading dining and entertainment districts along the entire Mississippi Gulf Coast.

The alley running along the west side of the property between 13th Street and 14th Street is in the process of being re-developed as an entertainment district called Fishbone Alley. The idea is to create a pedestrian walkway connecting several restaurants and nightclubs that would increase patronage in this part of downtown Gulfport.

The City of Gulfport is enthusiastic regarding new development, with their proposed major tourist attraction called the Mississippi Aquarium (located ¼ mile east of these buildings), the initial investment will be approx. $40m and could grow over time to a total of $100m. Design and master plan are in their final stages and expected delivery 1st quarter 2016.

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