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$1 Auction –Southgate Retail Center | 102K SF 2885-2899 Terry Rd 102,765 SF 100% Leased Retail Building Jackson, MS 39212 $205,020 CAD ($2.00 CAD/SF)
Investment Highlights
- ABSOLUTE $1 AUCTION | Southgate Shopping Center | 102,765 SF | 16K VPD | AUCTION APRIL 13-15
- Neighboring National Tenants: Food Depot, City Gear, Family Dollar, Advance Auto Parts, Pizza Hut, O’Reilly Auto Parts, Sherwin Williams
- Recent Capital Improvements include 2023 HVAC, Electrical/LED Lighting to 30k SF Vacant Unit and $320K in Other Improvements
- ±102,765 Square Foot Neighborhood Retail Center with Significant Value-Add through Lease-Up
- Strategically Located Just Off I-55 (±49K VPD) with 15,037 Vehicles Passing Site Daily and Nearby Signalized Intersection of Terry Road
- Dense Demographics with ±83,706 Individuals with an Average Household Income of ±$48,172 in a 5-Mile Radius
Executive Summary
Marcus & Millichap is pleased to present Southgate Shopping Center (the “Property”), a ±102,765 square foot neighborhood retail center located at 2885 Terry Road in Jackson, Mississippi. Currently vacant, Southgate Shopping Center presents an investor with the perfect value-add opportunity to tap into an established trade area with multiple upside scenarios.
Built in 1975, this multi-tenant asset is comprised of a single-story building containing a total of ±102,765 square feet positioned on one parcel totaling ±10.80 acres with over 350 parking spaces. The Property has seven retail units ranging in size from 1,400 square feet to 54,000 square feet and space that could be demised into additional retail units. Neighboring retailers include Family Dollar, Advance Auto Parts, Bank Plus, O’Reilly Auto Parts, Pizza Hut, Sherwin Williams, Metro, Church’s, and more. In addition to the prominence of the national, regional, and local commercial neighbors, the property is well situated a half-mile from I-55 providing direct access to downtown Jackson and the State Capitol.
The Property is ideally positioned with access and visibility along Terry Road with traffic counts of 15,037 vehicles per day and near the signalized intersection at McDowell Road with an additional 14,214 vehicles per day. The Property benefits from a dense trade area with ±83,706 people and an average household income of ±$48,172 within a 5-mile radius.
Built in 1975, this multi-tenant asset is comprised of a single-story building containing a total of ±102,765 square feet positioned on one parcel totaling ±10.80 acres with over 350 parking spaces. The Property has seven retail units ranging in size from 1,400 square feet to 54,000 square feet and space that could be demised into additional retail units. Neighboring retailers include Family Dollar, Advance Auto Parts, Bank Plus, O’Reilly Auto Parts, Pizza Hut, Sherwin Williams, Metro, Church’s, and more. In addition to the prominence of the national, regional, and local commercial neighbors, the property is well situated a half-mile from I-55 providing direct access to downtown Jackson and the State Capitol.
The Property is ideally positioned with access and visibility along Terry Road with traffic counts of 15,037 vehicles per day and near the signalized intersection at McDowell Road with an additional 14,214 vehicles per day. The Property benefits from a dense trade area with ±83,706 people and an average household income of ±$48,172 within a 5-mile radius.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
102,765 SF
Building Class
C
Year Built
1975
Price
$205,020 CAD
Price Per SF
$2.00 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.22
Lot Size
10.80 AC
Parking
350 Spaces (3.41 Spaces per 1,000 SF Leased)
Frontage
650’ on Terry Rd
Amenities
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
Nearby Major Retailers
Property Taxes
| Parcel Number | 0614-0001-003 | Improvements Assessment | $96,760 CAD |
| Land Assessment | $96,452 CAD | Total Assessment | $193,212 CAD |
Property Taxes
Parcel Number
0614-0001-003
Land Assessment
$96,452 CAD
Improvements Assessment
$96,760 CAD
Total Assessment
$193,212 CAD
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$1 Auction –Southgate Retail Center | 102K SF | 2885-2899 Terry Rd
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