435 North Magnolia St Laurel, MS 39440
- Retail space
- 11,576 SF
Current Use by Public Records
- Retail space
Property Details for 435 North Magnolia St
- Year built
- 1919
- Property size
- 11,576 SF
- Property type
- Retail space
- APN
- 118Y-05-13-006.00
- APU
- 118Y051300600
Description
This exceptional two-story retail storefront at 435 North Magnolia Street in Laurel, Mississippi, presents a compelling investment opportunity. The property boasts a total of 12,615 square feet, with 6,249 square feet of net rentable space currently occupied by two tenants under a gross lease agreement. The first floor underwent a complete renovation in 2018, creating modern and inviting retail space. The building is currently 100% occupied, generating a strong net operating income (NOI) of $64,800, resulting in an attractive 8.65% capitalization rate. The asking price is $749,000, translating to $59.37 per square foot. The property's investment-grade characteristics are further enhanced by the existing tenants' desire to continue their leases. The upper floor, currently unfinished, offers significant potential for expansion or conversion into additional retail space, office space, or residential units, providing considerable upside for the new owner. This prime location in downtown Laurel offers excellent visibility and access to a thriving community. The property's blend of modern updates and historic charm makes it an attractive asset in a desirable Mississippi market. This is a rare opportunity to acquire a fully occupied, high-yield retail property with significant upside potential. The property is zoned for retail use and has three units in total. The property's address is 435 N Magnolia St, Laurel, MS 39440.
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
- Laurel
- County
- Jones
- State
- Mississippi
- Longitude
- -89.1291
- Latitude
- 31.6938
- CBSA code
- 29860
- CBSA name
- LAUREL, MS MICROPOLITAN STATISTICAL AREA
