507 18th N Ave Columbus, MS 39705-2245
- Super regional malls
- 16,000 SF
- 9.30 lot acres
Current Use by Public Records
- A-1 Insurance / Home Insurance Agency
- CJ's Pizza of Columbus / Pizza Restaurant
- Fidelity National Loans / Loan Agency
- Towne Liquor / Liquor Store
- Max Muscle Nutrition / Health Food Store / Vitamin & Supplements Store
Property Details for 507 18th N Ave
- Year built
- 1983
- Construction
- WOOD
- Lot size
- 9.30 lot acres
- Property size
- 16,000 SF
- Property type
- Super regional malls
- APN
- 56W160003800
- APU
- 56W160003800
Description
This exceptional investment opportunity presents the Towne Square Shopping Center, a 116,363 square foot retail property located at 507 18th Ave N, Columbus, MS 39705. The property boasts a diverse mix of 17 tenants, including restaurants, a fitness center, and various retail businesses, ensuring a dynamic shopping experience. Currently operating at 100% occupancy, this multi-tenant center offers a strong NOI of $396,761 and an attractive 8.82% cap rate. The asking price is $4,500,000, translating to $38.67 per square foot. Built in 1983, the property comprises two buildings situated on a 9.41-acre lot. Lease terms vary among the tenants, with the investment structured as a modified net lease. The property benefits from a prime location with excellent visibility and accessibility, attracting a steady flow of customers. The tenant roster includes established local and national businesses, contributing to the center's consistent performance and strong occupancy rate. This well-maintained property presents a compelling investment opportunity in a thriving Mississippi 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
- Columbus
- County
- Lowndes
- State
- Mississippi
- Longitude
- -88.4308
- Latitude
- 33.5163
- CBSA code
- 18060
- CBSA name
- COLUMBUS, MS MICROPOLITAN STATISTICAL AREA
