898 Centre StRidgeland, MS 39157

Property Details for 898 Centre St

Year built

1987

Property size (Sq ft)

8,398 SF

Property type

Retail space

APN

072I-31C-011/01.04

APU

072I31C0110104

Description

This exceptional investment opportunity presents a multi-tenant retail building situated at 898 Centre Street in Ridgeland, Mississippi, 39157. The property boasts a total of 8,000 square feet across one single-story building constructed in 1987, situated on a one-acre lot. The net rentable area totals 7,457 square feet, divided into three units. Currently, only one unit is occupied, leaving three vacant spaces available for lease. These vacant spaces offer significant upside potential, with sizes of 1,550 square feet, 1,350 square feet, and 2,600 square feet respectively. The property is conveniently located behind a Kentucky Fried Chicken, offering high visibility and accessibility. The asking price for this prime retail investment is $800,000, translating to a price per square foot of $100. This property presents a compelling opportunity for investors seeking strong returns in a thriving Mississippi market. The location offers excellent access to Countyline Road, ensuring high traffic flow and exposure to a large customer base. This is an ideal opportunity to capitalize on the growing retail landscape in Ridgeland. The existing tenant provides immediate cash flow, while the vacant spaces offer the potential for significant rental income growth.

• CAP approach

  CAP return

  Valuation

  6%

  $1,778,728

  6.5%

  $1,641,902

  7%

  $1,524,624

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,614,329

  Geo Method

  $4,128,047

• Alternative Use

  Use

  Valuation

  Residential

  $1,385,006

  Hospitality

  $1,268,658

  Educational

  $1,055,509

  Medical

  $1,091,809

  Retail

  $1,641,902

Location Insight

City

Ridgeland

County

Madison

State

Mississippi

Latitude

32.4003

Longitude

-90.1358

CBSA code

27140

CBSA name

JACKSON, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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