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Shopping Strip

Eagle Plaza

710 N Davis Ave, Cleveland, MS 38732

Listing Price: $3,770,000

Cap Rate
8.00%
Gross SF
28,240
Rentable SF
28,240
Price/Gross SF
$133.50
Lot Size
0.86 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire Eagle Plaza, a 28,240-square-foot, multi-tenant retail center located in Cleveland, Mississippi. The building is currently 100 percent leased, and 94 percent of the gross leasable area has triple-net leases. Anchored by Dollar Tree, the tenants are a complementary mix of national and local retailers including Shoe Show, CATO, Bestway Rental, Verizon Wireless, Fancy Nails, Republic Finance, and Cleveland Tobacco & Vape. Constructed in 2006, the building is positioned on a 0.86-acre parcel with ample paved parking. A large double-sided monument sign on the property provides additional exposure to the center.

The subject property is located on North Davis Avenue parallel to U.S. Route 278 (Blues Highway). Traffic counts along U.S. Route 278 exceed 22,759 vehicles per day. Eagle Plaza is shadow-anchored by a top-ranking Walmart Supercenter, placing in the 77th percentile in the nation based on annual visitors to all Walmart Supercenter stores. The center is strategically positioned in a primary retail corridor with nearby national and regional retailers including Pizza Hut, Wendy's, Zaxby's Chicken Fingers & Buffalo Wings, Taco Bell, Kroger, Popeye's Louisiana Kitchen, Domino's Pizza, Walgreens, Sonic Drive-In, O'Reilly's Auto Parts, Ace Hardware, and many others. Several national hotel chains, including Hampton Inn Cleveland, Holiday Inn Express & Suites Cleveland, and Rodeway Inn, are in close proximity, driving additional traffic to the area. The population exceeds 24,000 residents within a 10-mile radius.

Investment Highlights

  • 28,240-Square-Foot, Multi-Tenant Retail Center | 100% Occupied | 94% of the Gross Leasable Area has Triple-Net Leases
  • Shadow-Anchored by a High Traffic Walmart Supercenter Location | Approximately 2.2 Million Annual Visitors | Ranked in the 77th Percentile Nationally as Compared to Other Walmart Supercenter Locations
  • Long Term, Established Tenant Base | 78% of the Gross Leasable Area has Occupied the Center Since Origination | Tenants are a Complementary Mix of National, Regional and Local Retailers
  • Located on North Davis Avenue Parallel to U.S. Route 278 (Blues Highway) | Traffic Counts on U.S. 278 Exceed 22,759 Vehicles per Day

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Financing By

Shopping Strip

Eagle Plaza

Listing Price: $3,770,000

Cap Rate
8.00%
Gross SF
28,240
Rentable SF
28,240
Price/Gross SF
$133.50
Lot Size
0.86 acres
Year Built
2006

Investment Highlights

  • 28,240-Square-Foot, Multi-Tenant Retail Center | 100% Occupied | 94% of the Gross Leasable Area has Triple-Net Leases
  • Shadow-Anchored by a High Traffic Walmart Supercenter Location | Approximately 2.2 Million Annual Visitors | Ranked in the 77th Percentile Nationally as Compared to Other Walmart Supercenter Locations
  • Long Term, Established Tenant Base | 78% of the Gross Leasable Area has Occupied the Center Since Origination | Tenants are a Complementary Mix of National, Regional and Local Retailers
  • Located on North Davis Avenue Parallel to U.S. Route 278 (Blues Highway) | Traffic Counts on U.S. 278 Exceed 22,759 Vehicles per Day

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire Eagle Plaza, a 28,240-square-foot, multi-tenant retail center located in Cleveland, Mississippi. The building is currently 100 percent leased, and 94 percent of the gross leasable area has triple-net leases. Anchored by Dollar Tree, the tenants are a complementary mix of national and local retailers including Shoe Show, CATO, Bestway Rental, Verizon Wireless, Fancy Nails, Republic Finance, and Cleveland Tobacco & Vape. Constructed in 2006, the building is positioned on a 0.86-acre parcel with ample paved parking. A large double-sided monument sign on the property provides additional exposure to the center. The subject property is located on North Davis Avenue parallel to U.S. Route 278 (Blues Highway). Traffic counts along U.S. Route 278 exceed 22,759 vehicles per day. Eagle Plaza is shadow-anchored by a top-ranking Walmart Supercenter, placing in the 77th percentile in the nation based on annual visitors to all Walmart Supercenter stores. The center is strategically positioned in a primary retail corridor with nearby national and regional retailers including Pizza Hut, Wendy's, Zaxby's Chicken Fingers & Buffalo Wings, Taco Bell, Kroger, Popeye's Louisiana Kitchen, Domino's Pizza, Walgreens, Sonic Drive-In, O'Reilly's Auto Parts, Ace Hardware, and many others. Several national hotel chains, including Hampton Inn Cleveland, Holiday Inn Express & Suites Cleveland, and Rodeway Inn, are in close proximity, driving additional traffic to the area. The population exceeds 24,000 residents within a 10-mile radius.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

Financing By

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