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6051 US-98Hattiesburg, MS 39402
Oak Leaf Plaza
Asset ClassRetail
Deal Size$1.05 M
Cap Rate: 7.5%Square Feet: 4,654# Tenants: 4Access Data Room
Value-Add Retail Strip | Kohl's & Turtle Creek Mall Outparcel | 48,000 VPD | Mins to University of Southern Mississippi
overview of deal

Overview

TSCG is pleased to offer for sale Oak Leaf Plaza, a value-add multi-tenant retail center in Hattiesburg, MS priced below replacement cost at $225 PSF. Situated along US-98 (48,000 VPD), the Property is positioned on an outparcel to Kohl's and Boot Barn with cross access to Turtle Creek Mall and Turtle Creek Crossing - the vibrant retail corridor is anchored by Walmart, Sam's Club, Target, Kohl's, Lowe's, HomeGoods, Academy, Aldi, Ulta and Ross. Oak Leaf Plaza benefits from its proximity to a robust employment base nearby two major hospital facilities and the University of Southern Mississippi (13,000+ students).

Investment Highlights

BITE SIZED PRICE POINT IN HIGH BARRIER TO ENTRY MARKET

  • Priced below replacement cost at $225.61 PSF | Average rent is $20 PSF | Property features upside potential converting gross leases to NNN leases
  • The Hattiesburg retail market has a 3.1% vacancy rate across 10.6M SF
  • Oak Leaf Plaza sits on an outparcel to Kohl’s and Boot Barn with cross access to Turtle Creek Mall and Turtle Creek Crossing
  • Allstate recently extended for 3 years and has been in occupancy at the Property for 20+ years
  • Direct access along US-98 (48,000 VPD) across new Aldi, Aspen Dental, Take 5 and Heartland Dental
  • Ownership recently spent ~$75,000 in capital expenditures towards the building, parking lot, signage and mailbox system

DENSE RETAIL CORRIDOR IN 13,000+ STUDENT COLLEGE TOWN

  • Next to Walmart, Sam’s Club, Target, Kohl’s, Lowe’s, HomeGoods, Academy, Aldi, Ulta, Ross and more
  • Less than one mile to the 211-bed Merit Health Wesley with over 1,200 employees
  • Three miles west of Downtown Hattiesburg and Forrest General Hospital (545 beds and 3,000+ employ-ees)
  • 8-minute drive to University of Southern Mississippi campus home to more than 13,000 students
  • Daytime population nearly triples the total population at 11,753 within a one-mile radius
  • Directly across the street from a brand-new Aspen Dental, Aldi, Take 5 Oil Change and Heartland Dental
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6051 US-98Hattiesburg, MS 39402

Sales Team

Justin LatoneManaging Director, Investment Sales

License #: GA 329650

(470) 668-2720justin.latone@tscg.com
Neal PringleSenior Managing Director of Investment Sales(678) 230-7188neal.pringle@tscg.com
Lindsay Ray Jones, IIIBroker of Record

License #: 22899

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