A piece of this MS Coast island is for sale with a big price cut. ‘Make me an offer.’
If you’re one of those people who longs to own an island, or a slice of one, a commercial real estate broker has a deal for you on the Mississippi Gulf Coast
The price has been slashed on 8 scenic acres on the western end of Deer Island, a mere three minutes by boat from Biloxi’s shore.
“It’s a rare opportunity to own a piece of an island,” said Brian Bolis, vice president of NAI Sawyer in Gulfport. “How many times do you get a chance to own part of a beautiful island that you don’t have to take a jet to fly to?”
The acreage was going for $5 million in 2022, but the price now is a mere $3.5 million
An owner can choose action or tranquility. To the north, lights flash from casino row and passing traffic on Beach Boulevard. To the south, the Mississippi Sound flows into the Gulf of Mexico.
Time and storms have washed away past development on the island. It was home to a ferry service and amusement center in 2015 and, on the east end, a rifle range in the 1930s. A nudist colony was even planned there in the late 1940s, The Daily Herald reported, but no word on how that worked out.
Biloxi island for sale could be prime development
In recent years, a couple of developers have attempted resorts on the property. Bolis is still hoping a resort will work out.
“It would be a dynamic game-changer for the Coast,” he said, adding that a development on island only accessible by water could be a huge magnet for tourists and locals looking for a stay-cation.
You’re talking about something that would be so different.”
The most recent prospect was for a hotel and condominium development on the 8 acres for sale, plus an additional 8 acres of private land.
The 16 acres is the only remaining private property on Deer Island, Bolis said. The state of Mississippi owns the rest of the island and maintains it as a Coastal Preserve.
Wisznia/ Architecture+Development in New Orleans even drew up plans for the development, which would have included a boardwalk over the water north of the island, featuring restaurants and a station for an air tram.
The property was under contract in 2022 for almost a year, but rising interest rates and a tight lending market killed the deal. But Wisznia is still interested in pursuing the development. “They’d like to find an investor to go in with them,” Bolis said.
Meanwhile, he’s hoping those 8 acres will attract the right buyer.
“It’s a fabulous opportunity,” he said. “Make me an offer.”
This story was originally published May 26, 2023 at 10:29 AM.
