6051 Us-98Hattiesburg, MS 39402

Property Details for 6051 Us-98

Year built

1989

Lot size

0.37 AC

Property size (Sq ft)

4,654 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This 4,654 square foot multi-tenant shopping center in Hattiesburg, Mississippi, presents a compelling value-add opportunity. Located at 6051 US-98, this property boasts a prime outparcel location adjacent to Kohl's and Turtle Creek Mall, benefiting from high visibility and traffic on a major thoroughfare with 36,000 vehicles per day. The 100% occupied center features four tenants: Generator Supercenter, Game X Change, Allstate, and LendNation. Built in 1989, the single-building property sits on a 0.37-acre lot and offers a strong NOI of $79,960, resulting in a 7.00% cap rate. The asking price is $1,142,000, translating to $245.38 per square foot. The property's strategic location near the University of Southern Mississippi (13,000+ students), two large hospitals (750+ beds), and a dense concentration of retail (over 2 million square feet within a one-mile radius) including Walmart, Sam's Club, Target, Lowe's, and HomeGoods, ensures a robust and stable tenant base. The property offers potential for future rent growth through lease conversions and benefits from excellent access and ingress/egress. This is an ideal investment for those seeking a strong performing asset in a high-growth area. The daytime population within one mile exceeds 12,000.

Location Insight

City

Hattiesburg

County

Lamar

State

Mississippi

Latitude

31.3227

Longitude

-89.3778

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