Columbia, MS

Price: $ 4,387,096
CAP Rate: 7.75%
NOI: $ 340,000
Lease Term Remaining Before Options: 12 Years 2 Months
Investment Highlights
  • There are over 12 years of lease term remaining with 10 (5 year) options to follow.
  • Only national chain drugstore for over 22 miles.
  • The Property is located in a Designated Opportunity Zone.
  •  1 mile South of Marion General Hospital (49 beds), the main hospital for Columbia and across the street from Fast Past Health Urgent Care.
  • Located in the only shopping center anchored by national retail tenants for over 20 miles and there is 715,000 square feet of retail space in a 1-mile radius.
  • Situated at the intersection of Sumrall Road and US-98 (traffic counts of 38,000 VPD) which serves as the east/west connector between Hattiesburg and McComb.
Offering Summary

We are pleased to market for sale the Walgreens property located at 1028 US-98 in Columbia, Mississippi ("The Property"). Walgreens has been successfully operating at this location for 13 years and has over 12 years of firm term remaining before 10 (5-year) option periods on an absolute net lease with no landlord obligations whatsoever.

The Property benefits from limited drugstore competition being the only national chain drugstore for over 22 miles, situated in the only national tenant anchored shopping center in a 20-mile radius.  The Property is located in the major medical corridor for the trade area and is 1-mile South of Marion General Hospital and across the street from Fast Paced Urgent Care.

The Property is located with frontage on US-98, which serves as the east/west connector between Hattiesburg and McComb, and has daily traffic counts of 38,000 vehicles per day. The Property is also located in a Designated Opportunity Zone. 

Price: $ 4,387,096
CAP Rate: 7.75%
NOI: $ 340,000
Lease Term Remaining Before Options: 12 Years 2 Months