For Sale
$8,890,000

848 Barnes Crossing RdTupelo, MS 38804

High-performing retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents the fee simple interest in a 65,487 square foot Academy Sports + Outdoors, located at 848 Barnes Crossing Rd, Tupelo, MS 38804. The property sits on a 7.7-acre lot and boasts a 20-year absolute NNN lease with approximately 11.2 years remaining, offering zero landlord responsibilities. The lease includes four, five-year renewal options and a $0.38/SF rent escalation every five years, commencing February 1, 2016, and expiring January 31, 2036. This location is the top-performing Academy Sports in Mississippi, ranking within the top 5% nationally, generating 875,600 annual visits. It benefits from a prime location within Tupelo's main retail corridor, surrounded by shopping centers attracting over 12.8 million annual visits. The property enjoys high visibility, with exposure to over 56,000 vehicles per day. The surrounding area has experienced significant growth, with a 21% population increase within a one-mile radius since 2010. This is the only Academy Sports within a 50-mile radius, ensuring market dominance. The property offers a 6.75% cap rate and a net operating income (NOI) of $600,000. Built in 2015, this investment presents a compelling opportunity for long-term, stable returns. The tenant is credit-rated and backed by a corporate guarantee.

Highlights

  • Absolute NNN lease with approximately 11.4 years remaining, zero landlord responsibilities.
  • Top-performing Academy Sports location in Mississippi, ranking in the top 5% nationally.
  • Only Academy Sports location within a 50-mile radius.
  • 21% population growth within a 1-mile radius since 2010.
  • High-visibility location with over 56,000 vehicles per day passing by.
  • Strong retail location surrounded by shopping centers generating over 12.8 million annual visits.

Property Details for 848 Barnes Crossing Rd

Property type
Lifestyle centers, Power centers
Square Feet
65,487 SF
Year Built
2015
Lot Size (sq. ft)
335,412 SF

Location Insight

City
Tupelo
County
Lee
State
Mississippi
Latitude
34.3178109
Longitude
-88.7059305
848 Barnes Crossing Rd, Tupelo, Mississippi

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848 Barnes Crossing Rd
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