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Brookway Village - Walmart Shadow 966 Brookway Blvd

43,094 SF 100% Leased Retail Building Brookhaven, MS 39601 $4,015,000 ($93/SF) 8% Cap Rate

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Executive Summary

Franklin Street is pleased to present Brookway Village in Brookhaven, Mississippi. Brookway Village is a 43,094-SF shopping center that is positioned adjacent to a high performing Walmart Supercenter with easy access to I-55 (22,878+ VPD). The property offers stable income from a mix of national and local tenants such as Harbor Freight, Cato, Little Caesar's, and more. Both Cato & It's Fashion have occupied their spaces at this location for over 20+ years, which shows their commitment to the site. Recent capital improvements from ownership include parking lot repairs and restriping, roof repairs and facade upgrades. Brookway Village is positioned for a strong value-add play, with an upcoming lease expiration from Wigs Beauty Plus. A perspective purchaser has the ability to convert over 8,000 SF to a NNN lease structure. Brookhaven’s economy is diverse, with a growing business community that includes healthcare, manufacturing, and retail sectors. The city is home to King’s Daughters Medical Center, a major healthcare provider for the region, along with several other key employers. Brookhaven's strategic location along Interstate 55 makes it an appealing location for businesses, while the city's emphasis on maintaining its historical integrity adds to its unique charm.

Brookway Village-Brookhaven_ MS OM

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Storefront

Building Size

43,094 SF

Building Class

Year Built

1987

Price

$4,015,000

Price Per SF

$93

Cap Rate

NOI

$321,318

Percent Leased

100%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.16

Land Acres

6.00 AC

Opportunity Zone

Yes

Frontage

500 FT on Brookway Village

Amenities

24 Hour Access

Pylon Sign

Monument Signage

Air Conditioning

MAJOR TENANTS

Retailer
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A family-owned business from the beginning, Cato brings high-quality fashion and accessories, at affordable prices – all the time. With more than 900 stores in 30 states, they stay true to their small-town America customer by offering on-trend styles, embracing all shapes and sizes and giving the customer the quality and attention they deserve.

Retailer
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At Harbor Freight, they're about much more than just tools. They're about the opportunities tools represent - the projects, the builds, the problem solving, the creativity, and the connection they give them to others. People are the reason they're committed to providing quality tools for everyone at the lowest prices. Harbor Freight's journey began in 1977, when Eric Smidt and his father launched Harbor Freight Tools. They've continued to deliver an incredible assortment of quality tools to pros and DIYers alike at prices that are less than competing brands. They’ve invested heavily in their state-of-the-art quality assurance facilities. They’ve hired the best experts in their fields to engineer and oversee the development of their new products, then put them through rigorous testing in laboratories.

Retailer
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It's Fashion offers the trendy looks you'll find in mall specialty stores at low prices every day. Check them out for the latest junior-inspired fashions, shoes and accessories for juniors, junior plus, young men, boys' sizes 8 to 20 and girls' sizes 7 to 16.

Accommodation and Food Services
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Little Caesars® Pizza is one of the most iconic brands in the world. With throughout countries and territories across the globe, Little Caesars® Pizza is beloved by millions. Their signature Hot-N-Ready® model allows customers to walk in-and-out in seconds or less with an affordable pizza that is as fresh as it is delicious. In the billion dollar worldwide pizza industry, Little Caesars® Pizza stands out as a brand that has a legacy of helping franchisees thrive, and a path towards an even brighter future of strong growth. Little Caesars® Pizza offers world class support and makes significant investments in new technology to help your business stay relevant with customers. With a straightforward business model enhanced by a strong culture of support and state-of-the-art technology.