Aspen Dental & AT&T Strip Center
Closed4001 Denny Ave, Pascagoula, MS 39581
Property type
Retail
Price
$2,875,000
Building size
8,400 sf
Rentable area
8,400 SF
Year built
2017
Year renovated
Occupancy
Zoning code
Lot size
1.06 Acres
Sold/status
Sold · Date unknown
Sale price
$2875000
CAP
8.70%
Net Operating Income
$250,147
Property description
Franklin Street is pleased to present this newer construction retail center in Pascagoula, Mississippi. Tenants include Aspen Dental, AT&T, OneMain Financial and Glazed Donuts. Pascagoula is located along the Mississippi coast 35 miles west of Mobile and 20 miles east of Biloxi. Pascagoula is home to several major employers including the Navy and Ingalls Shipyard. Nearby is the Singing River Health System (390 beds, 2,500 employees, $270 million annual economic impact). The location is also minutes from some of the most popular recreational attractions in the region, including the Gulf of Mexico, Krebs Lake, Pascagoula River, Grand Bay Savannah Coastal Preserve, Bangs Lake, and Pascagoula Bay. The site benefits from its location in a highly populated residential area, as it is within three miles of 15 apartment complexes and 17 schools. The center is highly visible adjacent to a Walmart Supercenter, which services a large trade area. All leases are fully NNN, which allows easy upkeep for an out of market investor. All tenants are paying 100% of their rental rates.
Property highlights
- 2017 construction strip center with national tenants: Aspen Dental, AT&T and OneMain Financial
- Shadow center to Walmart Supercenter (2.4M annual visits) - next closest Walmart 15+ miles
- Proximity to Ingalls Shipbuilding – the Largest Manufacturing Employer in MS with Approximately 11,500 Employees
- Major employers Signet, Pascagoula Naval Complex and Chevron Pascagoula Refinery all within 5 Miles – Employing over 11,800 workers
- Easy to maintain - all tenants on NNN leases
- Great visibility: 29,724 VPD
- Surrounded by national retailers: Walmart, Lowes, Big Lots, Save a Lot, Dollar Tree, Office Depot, and many fast food restaurants
- Excellent access to property - two lighted entrances