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Details: Retail

Asking Price: $3,958,000

Square Feet: 19,836 SF

Asking Cap Rate: 7.5%

Year Built: 2005

NOI: $297,000

The Columns

  • Anchored to the largest power center in the area
  • Big box tenants in the submarket include Home Depot, Best Buy, Hobby Lobby, Walmart, Lowes, Dick’s, Kohl’s and more
  • Staggered lease expirations mitigate vacancy risks
  • Only two tenants with options, providing future landlord flexibility
  • 100% occupied
  • New roof installed in 2020 and warranty in place until 2035
  • Parking lot is in good condition
  • Newbury St Menswear is in the process of expanding next door
  • Outparcel development opportunity
  • Rents are below market on multiple suites
  • Only 3.1% vacancy in the market
  • Market rents within the Columns Shopping Center for small shop space is $24 psf
  • Rents have increased 3.4% year over year in Jackson, compared to a 1.9% increase nationally
  • Centrally located within the primary retail corridor
  • Major traffic drivers in the immediate area include Home Depot, Walmart, Lowes, Dick’s, Kohl’s, Hobby Lobby, Best Buy and more
  • Strong incomes in trade area:
  • 1-mile: $77,387

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