DEALS

Deals

McDowell Square – Jackson, MS

THE OPPORTUNITY

  • Primary retail center within the submarket
  • Great access and visibility
  • Save-a-Lot recently added ten years of term to their lease
  • 80% occupied leaving an investor with great upside in the deal
  • Over 50% of the Rental Income is from Save-a-Lot and Dollar General
  • Substantial recent history of lease-up and renewals
  • New LED lights within the parking field
  • Roof installed in 2013 with 10 year Firestone Warranty

THE HIGHLIGHTS

  • Located the Mississippi capital city of Jackson
  • Save-a-Lot health ratio of 2.2%
  • Sales increase of 30.5% in 2020 for Save-A-Lot
  • $276psf sales for Save-a-Lot
  • Neighborhood center with long track record of operating history
  • Recent renewal by Save-a-Lot for 10 years, taking their expiration to 2035
  • 20,348 ADT at the intersection of McDowell Rd & Sunset Dr
  • Strong sales and sustainable health ratio by Save-a-Lot
  • Jackson is the largest major urban center in the state of Mississippi

THE DEAL POINTS

  • Square Feet: 63,451 SF
  • Asking Cap Rate: 8.00%
  • Asking Price: $3,235,000
  • Year Built: 1973
  • NOI: $2258,804
  • Occupancy: 80%

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