100-126 NW Plaza Dr
Senatobia, MS 38668
Retail Property For Sale

Walmart Shadow Anchored Strip Center_Senatobia, MS The Dumes Falk Group of Marcus & Millichap is please to bring to market Northwest Plaza, a Walmart Shadow Anchored Shopping Center comprised of 50,900-square feet in Senatobia, Mississippi. Senatobia is a county seat of Tate County and located less than 30 miles south of downtown Memphis, TN the largest city in Tennessee and 23rd largest in the nation. The center is positioned on approximately 5.3 acres with various points of ingress and egress, and exceptional signage and visibility. Northwest Plaza is currently 84 percent leased with 8,200-square feet of realizable vacancy upside. Leasing up these three remaining vacant units at market rent under triple-net leases could potentially add an additional $110,000 to the NOI. Additionally, there is only one tenant under a gross lease with 94 percent of the occupied space under triple-net leases. The tenant base consists of a complimentary mix of local, regional and national tenants that supplies the city' s consumers with a wide range of products and services to meet the needs of its residents. Some of these needs include restaurants, sporting goods, discount goods, beauty, and clothing. This Walmart Shadow Anchored Shopping Center benefits from being positioned along US-51 (Panola Street), a four-lane thoroughfare with a center turn lane and near Norfleet Drive, combined see around 25,000 vehicles per day. Along with the Walmart Supercenter, additional traffic drivers within the corridor include retail, education, medical and some industrial which all pull consumers to the subject property. It neighbors both Northwest Mississippi Community College with 7,100 students and Senatobia High School with 750 students. Strong historical occupancy, vacancy upside and a prominent location within the market provides this center the ability to continue to be an integral part of the community and should continue to serve as an invaluable shopping destination for residents and travelers alike.