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Classic Auction - Retail

Grocery Anchored Strip Center

1084 Highway 61, Tunica, MS 38676

  • Asset Type
  • Real Estate
  • Property Type
  • Retail
  • Land Area
  • 3.55 Acres
  • Number of Floors
  • 1
  • Number of Buildings
  • 1
  • Parking Count
  • 160
  • Occupancy
  • 97.00%
  • Occupancy as of
  • Apr 19, 2021
  • Retail Type
  • Grocery Anchored Center
  • Anchor
  • Yes
  • Anchor Tenant(s)
  • Piggy Wiggly
  • Property Size
  • 51,990 Sq Ft

Long-Term Tenancy With $238,482 NOI

Investment Highlights

  • Grocery Anchored: Grocery anchored by Piggly Wiggly with over $5.75M in store sales and a rent-to-sales ratio of 1%.
  • Value-Add Potential: $238,482.75 NOI with value-add opportunity to lease small shop vacancy.
  • Corporate Guarantee: Guaranteed by Houchens Industries with 425+ locations and approximately $2 billion in sales. 
  • National Tenancy: 84% national tenants providing owners with strong tenancy and brand recognition for the center.
 

Offering Details

Brookwood Capital Advisors and RealINSIGHT Marketplace are pleased to present the Grocery Anchored Retail Strip Center (the "Property") located at 1084 Highway 61, Tunica, Mississippi 38676. The Property is a 51,990 SF retail strip center with a grocery anchored tenant (Piggly Wiggly) that generated over $5.75M in store sales and demonstrated a competitive rent-to-sales ratio of 1%. In addition, Piggly Wiggly recently signed a lease extension to bring an additional five years to their current lease term. The tenant mix is comprised of national tenants that make up 84% of the tenancy while a single vacant space (1,500 SF) allows new ownership to take advantage of the value-add opportunity to lease-up for additional cash flow on top of the current $238,482.71 in net operating income. 

Houchens Industries is an American employee-owned company, in business since 1918 when it began as a small grocery operated by founder Ervin Houchens in rural Barren County, Kentucky. The company is headquartered in Bowling Green, Kentucky. The company runs over 425 grocery stores. Their annual sales are just under $2 billion, with approximately 10,500 employees. 

Please visit the due diligence vault for more information on financing quotes.

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