188 Starlyn Ave New Albany, MS 38652
- Lifestyle centers
- 8,941 SF
- 0.78 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 188 Starlyn Ave
- Year built
- 2017
- Lot size
- 0.78 lot acres
- Property size
- 8,941 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Class A, 8,941 square-foot shopping center in New Albany, Mississippi, presents a compelling investment opportunity. Boasting a 100% occupancy rate with four tenants, each under a new NNN lease signed in early 2023, this property offers a stable and predictable income stream. The 2017-built plaza features a 7.1-year weighted average lease term (WALT) with built-in rent bumps, providing future revenue growth. Situated on a 0.78-acre lot at 188 Starlyn Ave, New Albany, MS 38652, this prime location benefits from high visibility just off Interstate 22, exit 61, and enjoys proximity to major retailers including Walmart, Lowe's, and Baptist Memorial Hospital - Union County. The pro-forma net operating income (NOI) is $157,125, yielding a 6.50% cap rate at the asking price of $2,417,000 ($270.33/sq ft). The property's strong tenant mix, including urgent care and dental end caps, ensures consistent demand and long-term value. The leases include personal guarantees, further mitigating risk. This is a rare opportunity to acquire a high-performing, multi-tenant shopping center in a thriving Mississippi market. The property consists of one single-story building.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Albany
- County
- Union
- State
- Mississippi
- Longitude
- -89.0359
- Latitude
- 34.4958
