6360 Ridgewood Court DrJackson, MS 39211

Property Details for 6360 Ridgewood Court Dr

Year built

1995

Construction

TYPE NOT SPECIFIED

Lot size

13.60 AC

Property size (Sq ft)

128,796 SF

Property type

Retail space

Property subtype

Storefront properties

APN

0738 0009 006

APU

7380009006

Description

This exceptional investment opportunity presents a 134,392 square foot At Home store located at 6360 Ridgewood Ct Dr, Jackson, MS 39211. The property boasts a strong 10.50% cap rate and a substantial net operating income (NOI) of $853,986. Secured by a corporate guarantee and an absolute NNN lease with a remaining term of 9.3 years (expiring 02/27/2034), this single-tenant retail building offers significant long-term stability. Rent increases are built in with 2% annual bumps. The property sits on a large 13.13-acre lot with ample parking (349 spaces) and is strategically positioned within a dense retail corridor, boasting 3.9 million square feet of retail space within a one-mile radius. The location benefits from high visibility and traffic counts (104,000 vehicles per day) due to its proximity to the I-55 on and off ramps. The surrounding area demonstrates strong demographics, including an affluent population with an average household income of $87,381 within a five-mile radius. Built in 1995, this one-story building is zoned for commercial use and enjoys 100% occupancy since its opening on February 7, 2018. The property is further enhanced by its proximity to major employers, including Select Specialty Hospital, Tougaloo College, and Callaway High School, as well as numerous popular national retailers such as Walmart, Target, Home Depot, and Lowe's. Lease options for 4 or 5-year extensions are available. This is a rare opportunity to acquire a high-performing, well-located retail asset with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $21,400,700

  6.5%

  $19,754,500

  7%

  $18,343,500

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,217,700

  Geo Method

  $26,127,900

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $38,709,500

  Mixed-Use / Specialty

  $19,608,800

  Hospitality / Lodging

  $14,288,400

  Office

  $19,414,000

  Institutional / Educational

  $20,358,400

  Residential Income

  $23,819,300

  Multifamily

  $28,984,900

  Automotive / Energy

  $17,450,100

  Parking / Income-Based Land

  $6,096,160

  Restaurant / Food Service

  $10,038,100

  Healthcare / Senior Housing

  $20,185,700

Location Insight

City

Jackson

County

Hinds

State

Mississippi

Latitude

32.3952

Longitude

-90.1379

CBSA code

27140

CBSA name

JACKSON, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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