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Classic Auction - Retail

Gulfport Commons: Value-Add Retail with National Tenants

376 Pass Road, Gulfport, MS 39507

  • Asset Type
  • Real Estate
  • Property Type
  • Retail
  • Land Area
  • 4.95 Acres
  • Year Built
  • 1988
  • Number of Floors
  • 1
  • Number of Buildings
  • 1
  • Occupancy
  • 100.00%
  • Occupancy as of
  • Jan 01, 2021
  • Retail Type
  • Community Center
  • Anchor
  • Yes
  • Anchor Tenant(s)
  • American Freight, Cowboy Jim's
  • Property Size
  • 61,701 Sq Ft

Value-Add Retail with Development Pad Opportunity

Investment Highlights 

  • NOI of $260,799 (See leases for details) with two national anchor tenants & pad site building included
  • Tenant Profile: 62% of income from National Tenants (American Freight & Cowboy Jims) & 68% of shopping center square footage occupied by those tenants
  • Value-Add Opportunity: Shopping center leases fall below market rates, ownership can increase American Fright to market rate at renewal - Pro Forma NOI: $497,227
  • Development Pad Potential: Additional return opportunities through selling or developing the outparcel with over 25,000 VPD
  • Prime Retail Location:High density submarket with 67,000 people in a 5 mile radius, over 25,000 vehicles per day, and $57,500 average household income
 

Investment Summary 

Brookwood Capital Advisors and RealINSIGHT Marketplace are pleased to present Airport Plaza (The Property) a 61,701 square foot center in Gulfport, MS. Airport Plaza is located directly adjacent to Gulfport-Biloxi International Airport. Owners will benefit from two new leases with national retailers American Freight, and Cowboy Jim’s. With excellent visibility along Pass Road, it is situated on the primary coastal thoroughfare through Gulfport. The Property is located on the prime retail corridor, with neighboring retailers including Save-ALot, Dollar General, Hibbett Sports, Big Lots, and a plethora of other national/credit tenants.

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Platform Fee

The platform fee for this transaction is the greater of 5.00% or a minimum of $25,000.

Need Help?

Have questions about Marketplace? You can reach us at 800.915.7015 or info@rimarketplace.com.

Auctioneer

  • William Head

    c/o Fisher Auction Company Inc.

    License: 892 Broker #: 19794