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Marcus & Millichap Sells Delaware West Shopping Center In McComb For $2.6M
SOLD
$2,600,000
Mississippi
See Similar DealsRetail54,450 SF
Sold 05/22/2024
SOLD
Marcus & Millichap Sells Delaware West Shopping Center In McComb For $2.6M
1209 Delaware Avenue
See Similar DealsRetail54,450 SF
Sold 05/22/2024
Summary
MISSISSIPPI
Asset Type:Retail
Price Per Square Foot:$47
Total Square Footage:54,450 SF
Transaction Type:Sale
The Delaware West Shopping Center in McComb, MS was sold for $2,600,000 on May 22, 2024. The retail asset spans 54,450 square feet and was priced at $48 per square foot. The property, located at 1209 Delaware Avenue, is home to eight tenants and is anchored by Harps Foods.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,600,000
- Market: McComb, MS
- Brokers: Eric Abbott, Mickey Davis & Zachary Taylor - Marcus & Millichap
During the transaction of the Delaware West Shopping Center, Marcus & Millichap played a key role. Zach Taylor and Eric Abbott represented the seller, a Tennessee developer, while Mickey Davis, the firm's broker of record, provided assistance in finalizing the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$138,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92
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