For Sale
$2,918,000

670 Craft RdOlive Branch, MS 38654

Mississippi Retail Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 8,400 square foot retail strip center, built in 2022, boasts a prime location in Olive Branch, Mississippi, at 670 Craft Rd, 38654. The property features five tenants, achieving 100% occupancy with a diverse mix including restaurants, a nail salon, and a hair salon. Strategically situated 0.25 miles from Interstate 269, it benefits from high visibility and convenient access. The center is directly across from four schools (Lewisburg Primary, Elementary, Intermediate, and High School), serving approximately 3,000 students. Lewisburg High School consistently ranks among the top schools in Mississippi and the Memphis metro area. The surrounding area showcases beautifully crafted single-family homes, with average household incomes exceeding $218,000 and median home values over $436,000. The property's strong performance is reflected in its $208,629 Net Operating Income (NOI) and a 7.15% cap rate. The asking price is $2,918,000, with a price per square foot of $347.38. The property is a NNN lease with rent bumps included and lease options available. Its proximity to major interstates (I-55, I-22, US-78) and the Memphis International Airport further enhances its appeal. The adjacent Shell gas station consistently ranks in the top 7% of its chain, indicating high traffic volume in the area. This is a stabilized investment opportunity with limited competition in a rapidly growing market.

Highlights

  • New retail center with limited competition in a primary trade area.
  • Strong tenant mix including diverse restaurant and service businesses.
  • Located near the #2 ranked high school in Mississippi and the Memphis MSA.
  • High-income demographic with $218,000+ average household income and $436,000+ median home values.
  • Excellent walkability to four schools with a combined 3,000 students.
  • Convenient access to Interstate 269 and major thoroughfares.

Property Details for 670 Craft Rd

Property type
Lifestyle centers, Power centers
Square Feet
8,400 SF
Year Built
2022
Lot Size (sq. ft)
57,064 SF

Location Insight

City
Olive Branch
County
DeSoto
State
Mississippi
Latitude
34.9481276
Longitude
-89.8303793
670 Craft Rd, Olive Branch, Mississippi

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670 Craft Rd
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