966 Brookway Blvd Brookhaven, MS 39601-2644

Property Details for 966 Brookway Blvd

Year built

1987

Construction

WOOD

Property size

32,537 SF

Property type

Retail space

APN

B77-14 -1 -016.

APU

B77141016

Description

This 43,094 square foot shopping center in Brookhaven, Mississippi, presents a compelling investment opportunity. Located on Brookway Boulevard, a major retail corridor with high traffic volume (25,000+ VPD), the property benefits from its proximity to a high-performing Walmart Supercenter (92nd percentile foot traffic). The center boasts a strong tenant lineup including national brands like Harbor Freight, Cato, and It's Fashion, many with long-term leases (Cato and It's Fashion since 1987 and 2002 respectively). Harbor Freight's lease has five years remaining on the initial term with rent bumps throughout three 5-year options. The property features a Net Lease (NNN) structure, offering a stabilized income stream with a current NOI of $321,318 and an 8.00% cap rate. Recent capital improvements include parking lot repairs, roof repairs, and facade upgrades. An upcoming lease expiration provides a value-add opportunity, with potential for conversion to a NNN lease structure for over 8,000 square feet. The property sits on a 6-acre lot and was built in 1987. The strong tenant mix, high traffic location, and recent improvements make this a desirable investment in a growing Mississippi market with easy access to I-55. The asking price is $4,015,000, representing a price per square foot of $93.17. The property's location near other national retailers and restaurants further enhances its appeal. The 2.59 million annual visits to the adjacent Walmart generate significant cross-selling opportunities for tenants.

Location Insight

City

Brookhaven

County

Lincoln

State

Mississippi

Longitude

-90.4701

Latitude

31.5805

CBSA code

15020

CBSA name

BROOKHAVEN, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments