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Available For Sale - Retail

23,023 SF

AVAILABILITY DETAILS

Size
23,023 SF
Price/SF
N/A - Contact for Info
Listing ID
SA255295
Notes
Avison Young, as exclusive advisor, is pleased to present Memorial Plaza (the “Property”), a One (1) building, 23,023 SF multi-tenant Retail Center in Kosciusko, Mississippi, leased to Goody’s, Hibbett Sporting Goods, Advance America, and Creative Nails. The Property is currently 100% leased to four (4) tenants. The building was originally developed in 2007. The offering represents the opportunity to acquire a well-constructed retail center, with significant recent capital improvements, situated on 2.362 acres along a prominent retail corridor. |Memorial Plaza has two (2) points of ingress / egress along major local North-South thoroughfare Veterans Memorial Drive. With 75% of tenants having at least one contractual renewal option at above current in-place rent, the property offers investors stable in-place cash flows with the opportunity for significant NOI growth as tenants exercise in-place option terms. |The Tenant mix includes a variety of national and local retailers, including Goody’s, Hibbett Sporting Goods, Advance America, as well as Service-Based Creative Nails. The center has benefitted from strong recent leasing activity, and a weighted average in-place lease term of 3.75 years remaining. |Memorial Plaza boasts good visibility and traffic counts of 14,000 VPD. The property is located on a prominent local retail corridor, on the thoroughfare Veterans Memorial Drive. Demographics are strong, with a population of 2,417 within a 1-mile radius of the property. The tenant mix is ideally suited for the area, with 1-mile average household income of $56,950 per year. The property is offered as part of a portfolio, subject to existing financing, and offers investors the ability to take advantage of attractive in-place debt to boost returns.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Theresa Johnson, Avison Young