48 & 50 Northtown Dr | 48-50 Northtown Dr
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48 & 50 Northtown Dr 48-50 Northtown Dr
43,800 SF Industrial Building Jackson, MS 39211 $4,950,000 ($113/SF) 7.32% Cap Rate
Investment Highlights
- Prime industrial investment opportunity featuring two high-bay warehouses totaling 43,800 square feet in northeast Jackson.
- 48 Northtown Drive, built in 2004, offers 18,800 square feet with a 40-foot clear height and 750,000 cubic feet of storage space.
- 50 Northtown Drive, constructed in 2008, features 25,000 square feet, climate control, and 1 million cubic feet of storable space.
- Both properties are leased to Vital Records Control under a seven-year triple net lease (NNN) with annual rent escalations.
- Additional features include metal roofing, insulated sandwich panel walls, and a generator for optimal functionality and safety.
- Located just 26 minutes from Jackson-Medgar Wiley Evers International Airport, with swift access to Interstate 55 and the Natchez Trace Parkway.
Executive Summary
Discover an exceptional industrial warehouse investment opportunity at 48 & 50 Northtown Drive in the highly desirable northeast Jackson area. These two high-bay warehouses boast 43,800 square feet of space, perfectly designed for modern business operations.
48 Northtown Drive was built in 2004 and spans 18,800 square feet. Currently utilized as an information warehouse, the property provides a 40-foot clear height and approximately 750,000 cubic feet of storage space, making it ideal for large-scale storage or specialized business needs. 50 Northtown Drive was constructed in 2008 and boasts 25,000 square feet. It also features a 40-foot clear height but has approximately 1,000,000 cubic feet of storable space. Additionally, it is climate-controlled, ensuring optimal conditions for temperature-sensitive materials. Additional features of the properties include metal roofing, insulated sandwich panel walls, and a generator, offering the highest standards of functionality and safety.
Both properties are leased to Vital Records Control (VRC), a well-established enterprise content management solutions leader. With over 35 years in the business, VRC serves more than 35,000 clients across 130+ locations nationwide. They provide many critical services, including document storage, shredding, imaging, digital solutions, and data storage, ensuring compliance and security for healthcare and legal industries.
The properties are currently under a renewed seven-year triple net lease (NNN) agreement with VRC, which was extended in February 2024 and includes annual rent escalations. VRC has been the sole occupant since 2012, demonstrating its long-term commitment to the site. For investors, this provides a reliable, steady source of rental income.
Strategically positioned in a significant industrial node, 48 & 50 Northtown Drive is just 26 minutes from Jackson-Medgar Wiley Evers International Airport (JAN). These warehouses offer quick access to Old Canton Road, which provides convenient connectivity to Interstate 55 and the Natchez Trace Parkway.
48 Northtown Drive was built in 2004 and spans 18,800 square feet. Currently utilized as an information warehouse, the property provides a 40-foot clear height and approximately 750,000 cubic feet of storage space, making it ideal for large-scale storage or specialized business needs. 50 Northtown Drive was constructed in 2008 and boasts 25,000 square feet. It also features a 40-foot clear height but has approximately 1,000,000 cubic feet of storable space. Additionally, it is climate-controlled, ensuring optimal conditions for temperature-sensitive materials. Additional features of the properties include metal roofing, insulated sandwich panel walls, and a generator, offering the highest standards of functionality and safety.
Both properties are leased to Vital Records Control (VRC), a well-established enterprise content management solutions leader. With over 35 years in the business, VRC serves more than 35,000 clients across 130+ locations nationwide. They provide many critical services, including document storage, shredding, imaging, digital solutions, and data storage, ensuring compliance and security for healthcare and legal industries.
The properties are currently under a renewed seven-year triple net lease (NNN) agreement with VRC, which was extended in February 2024 and includes annual rent escalations. VRC has been the sole occupant since 2012, demonstrating its long-term commitment to the site. For investors, this provides a reliable, steady source of rental income.
Strategically positioned in a significant industrial node, 48 & 50 Northtown Drive is just 26 minutes from Jackson-Medgar Wiley Evers International Airport (JAN). These warehouses offer quick access to Old Canton Road, which provides convenient connectivity to Interstate 55 and the Natchez Trace Parkway.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Property Facts
| Price | $4,950,000 | Rentable Building Area | 43,800 SF |
| Price Per SF | $113 | No. Stories | 1 |
| Sale Type | Investment NNN | Year Built | 2008 |
| Cap Rate | 7.32% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 0.46/1,000 SF |
| Property Subtype | Distribution | Clear Ceiling Height | 40 FT |
| Building Class | B | No. Dock-High Doors/Loading | 2 |
| Lot Size | 1.98 AC |
| Price | $4,950,000 |
| Price Per SF | $113 |
| Sale Type | Investment NNN |
| Cap Rate | 7.32% |
| Property Type | Industrial |
| Property Subtype | Distribution |
| Building Class | B |
| Lot Size | 1.98 AC |
| Rentable Building Area | 43,800 SF |
| No. Stories | 1 |
| Year Built | 2008 |
| Tenancy | Single |
| Parking Ratio | 0.46/1,000 SF |
| Clear Ceiling Height | 40 FT |
| No. Dock-High Doors/Loading | 2 |
Amenities
- Fenced Lot
- Front Loading
- Mezzanine
- Fiber Optic Internet
Utilities
- Lighting - Fluorescent
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Vital Records Control
- Information
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Vital Records Control | Information | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
About North Jackson
North Jackson is a major industrial node located near Jackson’s urban core. The area is bisected by Interstate 220 and Interstate 55, providing industrial users with access to Jackson’s population centers as well as other major metropolitan areas throughout the Southeast. Furthermore, North Jackson is home to some of the area’s most affluent suburbs, making this an ideal location for firms looking to distribute locally or regionally.
The tenant base in the North Jackson area is largely made up of manufacturing tenants or firms looking to distribute on a local or regional scale. Some of the largest industrial users in North Jackson include Office Depot, Warehouse Services Inc., and Sanhua International.
Demand for industrial space has increased throughout the country following the onset of the coronavirus pandemic. North Jackson is well positioned to capture demand from industrial users looking to expand in the Jackson region due to its strategic location near population centers and its strong infrastructure access.
DEMOGRAPHICS
Regional Accessibility
CITY
POPULATION
MILES
DRIVE TIME
Memphis
650,618
209
3 h 55 m
Dallas
1,345,047
407
7 h 25 m
Nashville
669,053
409
7 h 32 m
Houston
2,325,502
425
8 h 15 m
Fort Worth
895,008
446
8 h 13 m
Austin
964,254
549
10 h 15 m
ACCESS AND LABOR FORCE
10 MILES
Total Population
259,079
Total Labor Force
136,113
Unemployment Rate
2.94%
Median Household Income
$59,657
Warehouse Employees
16,174
High School Education Or Higher
90.90%
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Jala La Jarra | Grill | - | 8 min walk |
| Back Yard Burgers | - | - | 10 min walk |
| Subway | - | - | 12 min walk |
Retail |
||
|---|---|---|
| Trustmark | Finance Company | 8 min walk |
| Health Mart Pharmacy | Drug Store | 11 min walk |
| Allstate Insurance Company | Insurance | 12 min walk |
Hotels |
|
|---|---|
| Wingate by Wyndham |
111 rooms
8 min drive
|
| Courtyard |
117 rooms
7 min drive
|
| Residence Inn |
100 rooms
8 min drive
|
| Spark by Hilton |
118 rooms
8 min drive
|
| Home2 Suites by Hilton |
92 rooms
12 min drive
|
| Homewood Suites by Hilton |
125 rooms
13 min drive
|
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $118,748 | |
| Land Assessment | $79,597 | Total Assessment | $198,345 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$79,597
Improvements Assessment
$118,748
Total Assessment
$198,345
zoning
| Zoning Code | C-3 (Commercial) |
| C-3 (Commercial) |
Sale Advisor
Sale Advisor
Bob Lloyd, President
(601) 401-6605
Contact
Bob Lloyd began his career in the real estate appraisal field after graduating with a BBA degree from the University of Mississippi in 1983. Sixteen years of studying and reporting on various types of commercial, residential, and industrial properties gave Lloyd the foundation for beginning an entrepreneurial journey over the past forty years. The early years of real estate appraisal and brokerage education led to opening his own appraisal firm at the age of twenty-seven. This also created exceptional business and organizational skills that aided in the assembly of over fifty real estate corporations under his leadership.
Lloyd began his passion for the self-storage industry with the construction of the first climate-controlled facility in the State of Mississippi in 1994. Multiple stores soon followed and in the latter stages of 1997, Lloyd began planning a one-of-a-kind storage complex in northeast Jackson. The stores were rebranded with the StorageMax Trademark and design of the first multi-level climate-controlled self-storage and record storage (RecordMax) facility in the State were initiated.
In addition to steady StorageMax growth, RecordMax and a corporate office were constructed on the northeast Jackson campus for the growing list of corporations under his guidance. RecordMax represented the culmination of several years of travel, study, and working in records storage centers throughout the country to bring a unique one-stop-shop for records storage, document imaging, data conversion and digital storage solutions to customers. RecordMax grew to five metropolitan locations before selling after 15 successful years.
The StorageMax portfolio continues to grow and now includes thirty-three locations, 2,000,000 square feet under roof and over 15,000 storage units.
Storage Park Development, Inc, oversees the development, day-to-day management operations and accounting of each project with corporate offices in Ridgeland, MS.
Highland Park Properties, LLC represents the real estate brokerage arm of the group of companies. The most recent developments being Highland Commerce Park, an upscale business park in Ridgeland, Mississippi and Highland Data Park in Madison County Mississippi. HDP is a specialty business park located across Highway 22 from Amazon Web Services and is being designed to accommodate the fast-growing data center market.
Through the years Lloyd has instilled great loyalty from his employees by living by a simple philosophy; “business is really simple to me, do what you say you’re going to do and treat people as you would want to be treated. Life is too short to not enjoy what you do each day, love it or move on to something else.”
Bob and his wife Beth now live in Canton, Mississippi and enjoy the outdoor management of Cameron East Plantation and Patina Farms. “The Farm” is a 1300 acre wildlife and farm-animal paradise that flourishes in all facets of enjoying outdoor living.
Lloyd began his passion for the self-storage industry with the construction of the first climate-controlled facility in the State of Mississippi in 1994. Multiple stores soon followed and in the latter stages of 1997, Lloyd began planning a one-of-a-kind storage complex in northeast Jackson. The stores were rebranded with the StorageMax Trademark and design of the first multi-level climate-controlled self-storage and record storage (RecordMax) facility in the State were initiated.
In addition to steady StorageMax growth, RecordMax and a corporate office were constructed on the northeast Jackson campus for the growing list of corporations under his guidance. RecordMax represented the culmination of several years of travel, study, and working in records storage centers throughout the country to bring a unique one-stop-shop for records storage, document imaging, data conversion and digital storage solutions to customers. RecordMax grew to five metropolitan locations before selling after 15 successful years.
The StorageMax portfolio continues to grow and now includes thirty-three locations, 2,000,000 square feet under roof and over 15,000 storage units.
Storage Park Development, Inc, oversees the development, day-to-day management operations and accounting of each project with corporate offices in Ridgeland, MS.
Highland Park Properties, LLC represents the real estate brokerage arm of the group of companies. The most recent developments being Highland Commerce Park, an upscale business park in Ridgeland, Mississippi and Highland Data Park in Madison County Mississippi. HDP is a specialty business park located across Highway 22 from Amazon Web Services and is being designed to accommodate the fast-growing data center market.
Through the years Lloyd has instilled great loyalty from his employees by living by a simple philosophy; “business is really simple to me, do what you say you’re going to do and treat people as you would want to be treated. Life is too short to not enjoy what you do each day, love it or move on to something else.”
Bob and his wife Beth now live in Canton, Mississippi and enjoy the outdoor management of Cameron East Plantation and Patina Farms. “The Farm” is a 1300 acre wildlife and farm-animal paradise that flourishes in all facets of enjoying outdoor living.
-
Bob Lloyd -
Highland Park Properties
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48 & 50 Northtown Dr | 48-50 Northtown Dr
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