2041 Highway 45Columbus, MS 39705

Property Details for 2041 Highway 45

Year built

2014

Construction

WOOD

Lot size

1.83 AC

Property size (Sq ft)

35,057 SF

Property type

Retail space

APN

57W120004807

APU

57W120004807

Description

This exceptional investment opportunity presents a fee-simple ownership of a Class A, 53,936 square-foot shopping center in Columbus, Mississippi. Located at 2041 Hwy 45 N, this single-story building, constructed in 2015, boasts 100% occupancy with two units leased to Dick's Sporting Goods and Michaels. The property features a double net (NN) lease structure, minimizing landlord responsibilities. Dick's Sporting Goods and Michaels have recently exercised lease options, demonstrating their commitment to this location. The current lease term extends until January 30, 2030, with a remaining term of 5.2 years. The property generates a substantial net operating income (NOI) of $373,000, resulting in an attractive 11.13% capitalization rate. The asking price is $3,350,000, translating to $62.11 per square foot. This prime retail location benefits from high traffic volume on Highway 45, exceeding 24,000 vehicles daily, and is situated near other major national retailers. The property's strong performance is further enhanced by the below-market rent paid by Michaels, offering significant potential for future rent increases. Both tenants are corporately guaranteed, providing investors with exceptional security and stable income streams. The location enjoys strong demographics, with a dense population and high average household income within a five-mile radius. This property offers a compelling combination of immediate cash flow and long-term growth potential in a thriving retail market.

• CAP approach

  CAP return

  Valuation

  6%

  $8,638,304

  6.5%

  $7,973,819

  7%

  $7,404,260

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,428,038

  Geo Method

  $17,232,310

• Alternative Use

  Use

  Valuation

  Residential

  $6,726,215

  Hospitality

  $6,161,176

  Educational

  $5,126,026

  Medical

  $5,302,318

  Retail

  $7,973,819

Location Insight

City

Columbus

County

Lowndes

State

Mississippi

Latitude

33.5247

Longitude

-88.4381

CBSA code

18060

CBSA name

COLUMBUS, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].