Available For Sale - Retail

112,742 SF

AVAILABILITY DETAILS

Size
112,742 SF
Price/SF
N/A - Contact for Info
Listing ID
SA255308
Notes
Avison Young, as exclusive advisor, is pleased to present 49 Junction (the “Property”), a three-building neighborhood retail center totaling 112,742 SF located along the signaled intersection of Highway 49 and Old Benton Rd major local thoroughfares in Yazoo City, Mississippi. The two largest buildings in the center were built in 1996, and had significant renovations performed on in 2010, including new roofs. The third building, occupied by Verizon and Little Caesar’s, was built in 2015. In addition to the significant structural improvements, the parking lot for the center had $150,000 worth of renovations done in 2017. The offering represents the opportunity to acquire a well-constructed retail center situated in a major retail hub for the area. The property is currently 100% leased and offers investors the ability to increase net operating income through increasing rents over time. |Junction 49 is situated on 8.38 acres at the Northeast pin corner of major local north-south thoroughfare State Highway 49 (15,000 VPD) and Old Benton Rd (10,000 VPD). The property offers customers a total of three (3) points of ingress/egress, one along Country Barn Road to the North, one along Jerry Clower Blvd to the West, and one along Old Benton Road to the South. The Property is Anchored by several large-format retailers, including Goody’s, Save-A-Lot, and Citi-Trends, with 58.3% of in-placing tenants having at least one renewal option remaining in place. The Tenant mix includes offer a variety of national and local retailers including Goody’s, Save-a-lot, Dollar Tree, Hibbett Sporting Goods, CitiTrends, Dr. David Parker, Yazoo Convention and Visitor’s bureau, and Verizon Wireless and Little Caesar’s. Junction 49 has been historically well leased, with the average tenant enjoying occupancy in the center for over 10 years. Junction 49 is located in the Heart of Yazoo City, the County Seat of Yazoo County, Mississippi and known as the “Gateway to the Delta” due to its location at the entrance to the Mississippi Delta. The property is offered to investors free and clear of existing debt.
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