For Sale
$4,500,000

507 18Th AveColumbus, MS 39705

17-Tenant Retail Center, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents the Towne Square Shopping Center, a 116,363 square foot retail property located at 507 18th Ave N, Columbus, MS 39705. The property boasts a diverse mix of 17 tenants, including restaurants, a fitness center, and various retail businesses, ensuring a dynamic shopping experience. Currently operating at 100% occupancy, this multi-tenant center offers a strong NOI of $396,761 and an attractive 8.82% cap rate. The asking price is $4,500,000, translating to $38.67 per square foot. Built in 1983, the property comprises two buildings situated on a 9.41-acre lot. Lease terms vary among the tenants, with the investment structured as a modified net lease. The property benefits from a prime location with excellent visibility and accessibility, attracting a steady flow of customers. The tenant roster includes established local and national businesses, contributing to the center's consistent performance and strong occupancy rate. This well-maintained property presents a compelling investment opportunity in a thriving Mississippi market.

Highlights

  • Prime location in Towne Square Shopping Center, offering high visibility and accessibility from major roads and Highway 82.
  • Strong anchor tenants including major retail chains and local businesses, driving consistent customer traffic.
  • Diverse tenant mix featuring retail, dining, fitness, and service businesses, creating a vibrant shopping environment.
  • High occupancy rate with low vacancy, demonstrating strong market demand and stability.
  • Recently upgraded HVAC systems and other improvements enhancing functionality.

Property Details for 507 18Th Ave

Property type
Lifestyle centers, Power centers
Square Feet
116,363 SF
Year Built
1983
Buildings
2
Lot Size (sq. ft)
409,900 SF
Units
17

Location Insight

City
Columbus
County
Lowndes
State
Mississippi
Latitude
33.515585452444
Longitude
-88.43173734355
507 18Th Ave, Columbus, Mississippi

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507 18Th Ave
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