321 US-80 - Storefront Retail/Office FOR SALE


Clinton, MS 39056
$4,237,000 USD
404-806-2755
321 US-80, Clinton, MS for Sale
$4,237,000 USD
Storefront Retail/Office - FOR SALE
1/1
null | 7.75% Cap Rate

321 US-80
Clinton, MS 39056


HIGHLIGHTS

  • SEASONED TENANTS | MARK-TO-MARKET OPPORTUNITY
  • STRONG PERFORMING TAKE-5 OUTPARCEL INCLUDED
  • OUTSTANDING REAL ESTATE FUNDAMENTALS | KROGER SHADOW
  • JACKSON, MISSISSIPPI MSA

OVERVIEW

Newmark, as exclusive advisor, is pleased to present for sale Cedar Place – a 22,052 SF unanchored strip center located in a well-established and affluent suburb of Jackson, Mississippi. The subject property consists of 19,910 square feet of inline retail space and a 2,142 square foot free-standing, separately parceled Take 5 Oil Change. An impressive 55% of the property is occupied by tenants who have been at this location for at least seven plus years. Furthermore, the average base rent for the majority of the inline tenants is significantly below-market – as evidenced by newer leases executed at 30% higher base rent since 2022. Only minutes from Interstate-20 and Mississippi College (6,500+ students, faculty & staff), Cedar Place is positioned near the high traffic intersection of US Highway 80 and Springridge Road boasting a combined daily traffic count of more than 51,000 vehicles per day. Additionally, the subject property is adjacent to Mississippi’s top performing Kroger grocery center with fueling station that is ranked 1 of 28 (Source: PlacerAI). Combined with its affluent demographic profile, Cedar Place presents investors with the opportunity for a stable and a growing cash flow for years to come.

FOR SALE DETAILS

PRICE

$4,237,000 USD

PRICE/SF

$192 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cedar Place

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

90

LAND DETAILS

LAND ACRES

1.97 AC

LAND SF

85,813 SF

ZONING

C

APN/PARCEL ID

2861-0255-000,2861-0256-000,2861-0256-001,2861-0257-000

ASK ABOUT THIS PROPERTY

Drew FlemingNewmarkMore Info
404-806-2755

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Drew FlemingNewmarkMore Info
404-806-2755

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.