4400 Hardy St Hattiesburg, MS 39402

Property Details for 4400 Hardy St

Year built

1982

Construction

WOOD

Lot size

9.10 lot acres

Property size

48,329 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

051R-12-085.000

APU

051R12085000

Description

This established 78,227 square foot shopping center in Hattiesburg, Mississippi, presents a compelling investment opportunity. Located on a 9.41-acre lot at 4400 Hardy Street, this Class B property features three buildings and boasts a 98.1% occupancy rate. Anchored by Harbor Freight and Michaels, the center benefits from a diverse tenant mix across 16 units, including Walk-On's, which recently received a new roof (landlord responsible for roof, exterior walls & foundation). Built in 1982 and renovated in 2020, the property generates a strong NOI of $1,048,148, representing a 7.43% cap rate at an asking price of $14,100,000 ($180.24/SF). The property offers 330 parking spaces and benefits from its location on a major retail corridor with over 63,000 vehicles passing daily. An assumable, non-recourse loan with a 3.88% fixed rate and a maturity date of 5/1/31, with a balance of approximately $7,450,000, provides significant financial flexibility. The property is situated in a thriving community, benefiting from the presence of two major universities and a robust local economy. This stabilized investment offers a rare opportunity to acquire a high-performing retail asset in a desirable location. The property is a shadow anchor to Winn-Dixie.