Available For Sale - Retail

56,707 SF

AVAILABILITY DETAILS

Size
56,707 SF
Price/SF
N/A - Contact for Info
Listing ID
SA255296
Notes
Avison Young, as exclusive advisor, is pleased to present Lucedale Centre (the “Property”), a One (1) building, 56,707 SF multi-tenant Retail - Neighborhood Center in Lucedale, MS anchored by Dollar Tree Stores and Aaron’s, Inc. The Property is currently 100% leased to eight (8) tenants. The building was originally developed in 1988, and was refreshed and modernized with renovations in 2013. The offering represents the opportunity to acquire a well-constructed retail center, with significant recent capital improvements, situated along a major retail corridor. |Lucedale Centre is a one (1)-story retail shopping center on 6.33 acres, with four (4) points of ingress / egress along major North-South local thoroughfare Old Highway 63 South and three (3) points of ingress / egress along Cowart Street at the rear of the property. With 100% 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 is ideally suited to the local trade area, and includes a variety of national and local retailers, including Dollar Tree, Aaron’s, and Factory Connection. The center has benefitted from strong recent leasing activity, and a weighted average in-place lease term of 3.17 years remaining. |Lucedale Centre boasts good visibility and traffic counts of over 7,900 VPD. The property is located on a prominent local retail corridor, on an important North-South thoroughfare Old Highway 63 South. Demographics are strong, with a population of 2,361 and average household income of $58,174 within a 1-mile radius of the property. Population growth is projected at 2.88% by 2023. 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