Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Tunica Resorts Retail Opportunity Title is generated by Realmo AI

    13118 US-61, Tunica Resorts, MS 38664

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Large retail space in Tunica Resorts, Mississippi.

    Type:Retail, Office, Restaurant
    Property size:
    181,000 SF
    Added:
    Oct 28, 2022
    Days on Market:
    1313
    Last Refresh:
    May 12 at 10:06 pm

    Property Features for 13118 US-61

    General Information

    Standard status
    Active
    Size
    181,000 SF
    Property subtype
    Retail, Office, Restaurant

    Building Details

    Year Built
    2000

    Spaces For Lease

    at 13118 US-61 Contact us

    216 $8/Mo

    Size
    5,000 SF
    Type
    Retail, Office
    Contact us

    324 $6/Mo

    Size
    7,000 SF
    Type
    Retail, Office, Restaurant
    The Casino Shoppes are located just 15 min. south of Memphis. Hwy 61 N. frontage....
    show more
    Contact us

    302 $8/Mo

    Size
    2,000 SF
    Type
    Retail, Office
    Contact us

    322 $6/Mo

    Size
    7,000 SF
    Type
    Retail, Office, Restaurant
    The Casino Shoppes are located just 15 min. south of Memphis. Hwy 61 N. frontage....
    show more
    Contact us

    We can help!

    Listing Contact
    Randy Garciga

    Listing agent Randy Garciga License #FL 7862631664

    Listing office Garciga Properties

    Listing date Oct 28, 2022

    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 Garciga Properties

    HighLights

    • Located in Tunica Resorts, the 'South's Casino Capital', attracting over 8 million annual visitors.
    • High visibility and accessibility on Highway 61 North, 12 miles south of Memphis.
    • Existing retail space of approximately 181,000 square feet.
    • Expansion potential up to 253,500 square feet.
    • Flexibility for diverse retail, service, and entertainment uses.
    • Built in 2000.

    Overview

    The Casino Shoppes in Tunica Resorts, Mississippi, offers a substantial retail property with approximately 181,000 square feet of existing retail space and expansion potential up to 253,500 square feet. The center provides flexibility for a diverse mix of retail, service, and entertainment uses tailored to both local residents and tourist traffic. Located on Highway 61 North, just 12 miles south of Memphis, it offers visibility and accessibility from a major regional travel corridor. Tunica Resorts is recognized as the South’s Casino Capital, historically drawing more than 8 million visitors annually to its gaming, hospitality, and entertainment offerings, which provides a consistent source of customer traffic that bolsters demand for retail and complementary services. The surrounding area’s economic activity and ongoing population growth further enhance the center’s trade area dynamics. The Casino Shoppes is well positioned to serve both destination-oriented and everyday retail needs while providing expansion and redevelopment opportunities for investors and operators alike.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Map

    City
    Tunica Resorts
    County
    Tunica
    State
    Mississippi
    Longitude
    -90.3159
    Latitude
    34.8092

    FAQs

    What type of property is this?
    Shopping center - Large retail space in Tunica Resorts, Mississippi.
    Where is this shopping center located?
    The property is located at 13118 US-61 Tunica Resorts, MS.
    What is the lease rate?
    The lease rate is $6 SF/Yr.
    What are key features of this property?
    This property features: Located in Tunica Resorts, the 'South's Casino Capital', attracting over 8 million annual visitors.; High visibility and accessibility on Highway 61 North, 12 miles south of Memphis.; Existing retail space of approximately 181,000 square feet.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Randy Garciga
    Real Estate License ID: FL 7862631664
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    13118 US-61, Tunica Resorts, MS 38664
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!