Current Use by Public Records
- Lifestyle centers
Property Details for 6051 Us-98
- Year built
- 1989
- Lot size
- 0.37 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 4,654 square foot multi-tenant shopping center in Hattiesburg, Mississippi, presents a compelling value-add opportunity. Located at 6051 US-98, this property boasts a prime outparcel location adjacent to Kohl's and Turtle Creek Mall, benefiting from high visibility and traffic on a major thoroughfare with 36,000 vehicles per day. The 100% occupied center features four tenants: Generator Supercenter, Game X Change, Allstate, and LendNation. Built in 1989, the single-building property sits on a 0.37-acre lot and offers a strong NOI of $79,960, resulting in a 7.00% cap rate. The asking price is $1,142,000, translating to $245.38 per square foot. The property's strategic location near the University of Southern Mississippi (13,000+ students), two large hospitals (750+ beds), and a dense concentration of retail (over 2 million square feet within a one-mile radius) including Walmart, Sam's Club, Target, Lowe's, and HomeGoods, ensures a robust and stable tenant base. The property offers potential for future rent growth through lease conversions and benefits from excellent access and ingress/egress. This is an ideal investment for those seeking a strong performing asset in a high-growth area. The daytime population within one mile exceeds 12,000.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Hattiesburg
- County
- Lamar
- State
- Mississippi
- Longitude
- -89.3778
- Latitude
- 31.3227
