1005 State St, Clarksdale, MS 38614-6523

Property Details for 1005 State St

Year built

1934

Property type

Office Spaces

APN

404 241080007 0001600

APU

4042410800070001600

Description

This exceptional investment opportunity presents a 6,024 square foot, three-tenant retail shopping center in Clarksdale, Mississippi. Boasting 100% occupancy and a 7.50% cap rate, this meticulously maintained property generates a strong NOI of $72,175.62. Built in 2006, the property features a triple-net lease structure with full CAM reimbursements from two tenants, minimizing landlord responsibilities. Located on a major thoroughfare with over 12,064 vehicles passing daily, this high-visibility asset benefits from its proximity to downtown Clarksdale and a substantial population base. One tenant is C Spire, a significant player in the wireless broadband industry. The property's strong performance history, combined with its prime location and tenant mix, makes it an ideal acquisition for investors seeking passive income and potential appreciation. The asking price is $962,341, representing a price per square foot of $159.75. The property is zoned for commercial use and consists of a single story building. This is a compelling opportunity for a 1031 exchange or an investor seeking a stable, high-return investment. The property's location less than two miles from downtown Clarksdale, known as the "Blues Capital of the World," adds to its appeal. The 3-mile population radius encompasses approximately 14,521 residents.

Location Insight

City

Clarksdale

County

Coahoma

State

Mississippi

Longitude

-90.5621

Latitude

34.1957

CBSA code

17260

CBSA name

CLARKSDALE, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments