507 18Th AveColumbus, MS 39705
- Retail properties
- 16,000 SF
Property Details for 507 18Th Ave
- Year built
- 1983
- Construction
- WOOD
- Lot size
- 9.30 AC
- Property size (Sq ft)
- 16,000 SF
- Property type
- Retail properties
- Property subtype
- Super regional malls
- APN
- 56W160003800
- APU
- 56W160003800
Description
This exceptional investment opportunity presents the Towne Square Shopping Center, a 116,363 square foot retail property located at 507 18th Ave N, Columbus, MS 39705. The property boasts a diverse mix of 17 tenants, including restaurants, a fitness center, and various retail businesses, ensuring a dynamic shopping experience. Currently operating at 100% occupancy, this multi-tenant center offers a strong NOI of $396,761 and an attractive 8.82% cap rate. The asking price is $4,500,000, translating to $38.67 per square foot. Built in 1983, the property comprises two buildings situated on a 9.41-acre lot. Lease terms vary among the tenants, with the investment structured as a modified net lease. The property benefits from a prime location with excellent visibility and accessibility, attracting a steady flow of customers. The tenant roster includes established local and national businesses, contributing to the center's consistent performance and strong occupancy rate. This well-maintained property presents a compelling investment opportunity in a thriving Mississippi market.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,942,518
- 6.5%
- $3,639,248
- 7%
- $3,379,302
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,933,726
- Geo Method
- $7,864,819
-
Alternative Use
- Use
- Valuation
- Residential
- $3,069,842
- Hospitality
- $2,811,958
- Educational
- $2,339,516
- Medical
- $2,419,976
- Retail
- $3,639,248
Location Insight
- City
- Columbus
- County
- Lowndes
- State
- Mississippi
- Latitude
- 33.5163
- Longitude
- -88.4308
- CBSA code
- 18060
- CBSA name
- COLUMBUS, MS MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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