848 Barnes Crossing RdTupelo, MS 38804

Property Details for 848 Barnes Crossing Rd

Year built

2015

Lot size

7.70 AC

Property size (Sq ft)

65,487 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

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.

Location Insight

City

Tupelo

County

Lee

State

Mississippi

Latitude

34.3178

Longitude

-88.7059

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