670 Craft Rd Olive Branch, MS 38654
- Lifestyle centers
- 8,400 SF
- 1.31 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 670 Craft Rd
- Year built
- 2022
- Lot size
- 1.31 lot acres
- Property size
- 8,400 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 8,400 square foot retail strip center, built in 2022, boasts a prime location in Olive Branch, Mississippi, at 670 Craft Rd, 38654. The property features five tenants, achieving 100% occupancy with a diverse mix including restaurants, a nail salon, and a hair salon. Strategically situated 0.25 miles from Interstate 269, it benefits from high visibility and convenient access. The center is directly across from four schools (Lewisburg Primary, Elementary, Intermediate, and High School), serving approximately 3,000 students. Lewisburg High School consistently ranks among the top schools in Mississippi and the Memphis metro area. The surrounding area showcases beautifully crafted single-family homes, with average household incomes exceeding $218,000 and median home values over $436,000. The property's strong performance is reflected in its $208,629 Net Operating Income (NOI) and a 7.15% cap rate. The asking price is $2,918,000, with a price per square foot of $347.38. The property is a NNN lease with rent bumps included and lease options available. Its proximity to major interstates (I-55, I-22, US-78) and the Memphis International Airport further enhances its appeal. The adjacent Shell gas station consistently ranks in the top 7% of its chain, indicating high traffic volume in the area. This is a stabilized investment opportunity with limited competition in a rapidly growing market.
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
- Olive Branch
- County
- DeSoto
- State
- Mississippi
- Longitude
- -89.8304
- Latitude
- 34.9481
