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Westwood Square Shopping Center Opportunity

4400 Hardy St, Hattiesburg, MS 39402

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For Sale

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Established, fully occupied retail center on a major retail corridor.

Type:Retail

Property size:

78,227 SF

Lot size:

9.41 Acres

Price / SF:

$150/SF

HighLights

100% Occupancy with Diverse Tenant Mix: Includes established anchor tenants like Michaels, Harbor Freight, and Walk‑On's.
Strategic Location on Major Retail Corridor: Positioned on US Highway 98 with high traffic counts (over 63,000 vehicles per day).
New Anchor Tenant: Rouses Markets is taking over the Winn‑Dixie space and doing a full remodel.
Anchor Tenant with New Roof: Walk‑On's has a new roof.
Ample Parking: Includes 300 parking spaces.
Located in Hattiesburg, the 'Hub City': A growing community with a diverse economy.

We can help!

Listing Contact

Colby Herrington, CCIM

For Sale

Contact for pricing

Established, fully occupied retail center on a major retail corridor.

Type:Retail

Property size:

78,227 SF

Lot size:

9.41 Acres

Price / SF:

$150/SF

Added:: Aug 6, 2024
Days on Market:: 686
Last Refresh:: May 13 at 8:25 pm

Property Features for 4400 Hardy St

General Information

Standard status: Active
Size: 78,227 SF
Lot size: 9.41 Acres
Property subtype: Retail

Building Details

Year Built: 1982

We can help!

Listing Contact

Colby Herrington, CCIM

Listing agent Colby Herrington, CCIM License #AL 000100848-0

Listing office Herrington Realty

Listing date Aug 6, 2024

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Herrington Realty

HighLights

100% Occupancy with Diverse Tenant Mix: Includes established anchor tenants like Michaels, Harbor Freight, and Walk‑On's.
Strategic Location on Major Retail Corridor: Positioned on US Highway 98 with high traffic counts (over 63,000 vehicles per day).
New Anchor Tenant: Rouses Markets is taking over the Winn‑Dixie space and doing a full remodel.
Anchor Tenant with New Roof: Walk‑On's has a new roof.
Ample Parking: Includes 300 parking spaces.
Located in Hattiesburg, the 'Hub City': A growing community with a diverse economy.

Overview

Westwood Square Shopping Center, situated at 4400 Hardy Street in Hattiesburg, Mississippi, presents an opportunity to purchase an established retail center. Constructed in 1982, the property features a gross leasable area (GLA) of 78,227 square feet on a 9.41-acre lot. The center is fully occupied by 15 tenants, including anchor tenants such as Michaels, Harbor Freight, and Walk-On's, which features a new roof. Located on US Highway 98, a major retail corridor, the center benefits from high visibility and accessibility, with traffic counts exceeding 63,000 vehicles per day. The property provides 300 parking spaces. Rouses Markets will be taking over the Winn-Dixie space at this center and doing a full remodel. Hattiesburg, known as the "Hub City," is a growing community that serves as a regional hub for commerce, education, and healthcare. The city has two major universities: The University of Southern Mississippi and William Carey University. Hattiesburg's economy is supported by retail, healthcare, and education. Its location at the intersection of major highways, including US Highway 98, ensures connectivity and accessibility. The city offers cultural, recreational, and entertainment options.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$938.7k	$12.00
− Vacancy	−$79.8k	−$1.02
EGI	$858.9k	$10.98
− OpEx	−$257.7k	−$3.29
NOI	$601.3k	$7.69

78,227 SF · lease $12.00/SF/yr · vacancy 8.50% · expense 30.00%

Alternative Uses

Best Use

Retail

$8.59M

$7.52M – $10.02M (±1% cap)

NOI $601,253 @ 7.0% cap · market cap 5.12%

Second Best

—

no second resolved use

Theoretical Best

Office A

$12.87M

$11.26M – $15.02M (±1% cap)

NOI $901,175 @ 7.0% cap · market cap 7.67%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Western Union Bank Harbor Freight Tools Building Supply Coinstar Kiosk | Bitcoin ... Atm Michaels Custom Framing (Bike/Boat/Book/etc) Store Coinhub Bitcoin ATM ... Atm

Suggested Use

Similar Places Nearby

The Arbor Shopping Center — 4700 Hardy St Suite K, Hattiesburg, MS 39402
Coinstar Kiosk | Bitcoin ATM — Winn Dixie, 4400 Hardy St, Hattiesburg, MS 39402
Pathway Candles and Gifts — 4010 O'Ferral, Hattiesburg, MS 39402
Westwood Square — 4400 Hardy St, Hattiesburg, MS 39402
Kold Kutz (Barbershop) — O'Ferral St, Hattiesburg, MS 39402

Location Insight

Map
Local Demand

City: Hattiesburg
County: Forrest
State: Mississippi
Longitude: -89.3537864
Latitude: 31.3235096

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For sale
Shopping centers
MS
Hattiesburg
39402
4400 Hardy St

What type of property is this?

Shopping center - Established, fully occupied retail center on a major retail corridor.

Where is this shopping center located?

The property is located at 4400 Hardy St Hattiesburg, MS.

What is the asking price?

The asking price for this property is $11,750,000.

What are key features of this property?

This property features: 100% Occupancy with Diverse Tenant Mix: Includes established anchor tenants like Michaels, Harbor Freight, and Walk‑On's.; Strategic Location on Major Retail Corridor: Positioned on US Highway 98 with high traffic counts (over 63,000 vehicles per day).; New Anchor Tenant: Rouses Markets is taking over the Winn‑Dixie space and doing a full remodel.