105 Hardy Court Shopping Center

Hardy Court Shopping Center is a 268,428 SF established retail destination positioned at the high‑visibility intersection of Pass Road and Courthouse Road, one of Gulfport’s most trafficked corridors. The center benefits from excellent access, strong surrounding demographics, and proximity to major employers, including the Naval Construction Battalion Center, Memorial Hospital, and Gulfport High School.

Key Investment Highlights:

• Asking Price: $9,500,000
• Current NOI: $787,125
• Cap Rate: 8.29%
• GLA: 268,428 SF on 35.6 acres
• Year Built/Renovated: 1974 / 2007

Tenant Mix & Stability: The center is anchored by a diverse group of national and regional tenants, including Froogel’s Cost + Foods, Dollar General, Circle K, Firestone, O’Reilly Auto Parts, Goodwill, Renasant Bank, and others. This mix provides durable cash flow and consistent daily traffic. Current occupancy stands at 206,305 SF, with 62,103 SF of leasable vacancy offering meaningful upside. A significant portion of the vacancy is concentrated in just two large spaces, creating an outsized vacancy figure that can be quickly reduced through targeted leasing.

Value‑Add & Development Potential:

• Seven (7) existing outparcels with repositioning potential
• Ability to add additional pad sites
• Two development parcels:
• • ±2.4‑acre retail development site
  • ±3.0‑acre excess land parcel
• These components create opportunities for new ground leases, redevelopment, or expansion of the tenant mix.

Market Strength: Gulfport continues to experience steady population growth and benefits from a diversified economic base, including tourism, military, healthcare, shipbuilding, and aerospace. The surrounding trade area features a dense mix of national retailers, reinforcing Hardy Court’s position as a long‑established retail corridor.

• Diverse National & Regional Tenant Mix including Froogel’s Cost + Foods, Dollar General, Circle K, Firestone, O’Reilly Auto Parts, Goodwill, and Renasant Bank.
• High‑Traffic Gulfport Retail Corridor positioned at the signalized intersection of Pass Rd & Courthouse Rd, one of the city’s most established commercial arteries.
• Strong In‑Place Cash Flow with long‑term tenancy from multiple credit and essential‑service retailers.
• Significant Leasing Upside with 62,103 SF of vacancy, largely concentrated in two large spaces—creating a clear, achievable value‑add path.
• Multiple Redevelopment & Expansion Opportunities, including seven (7) existing outparcels and two (2) additional land parcels (+2.4 acres and +3.0 acres).
• 268,428 SF Center on 35.6 Acres offering scale, flexibility, and long‑term repositioning potential.
• Prime Surrounding Demand Drivers include Gulfport High School, Naval Construction Battalion Center, Memorial Hospital, and the Air National Guard Base.
• Stable Trade Area with strong daily traffic and complementary national retailers such as McDonald’s, Sonic, Dollar Tree, Smoothie King, and Wendy’s.
• Established Coastal Market with steady population growth and a diversified employment base supporting durable retail demand.