507 18Th AveColumbus, MS 39705

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

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.

• 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

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