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The Citizens Bank | Pascagoula, MS 1519 Jackson Ave 8,275 SF Retail Building Pascagoula, MS 39567 $4,073,846 ($492.31/SF) 6.50% Cap Rate
Investment Highlights
- Long-Term Investment Opportunity: 15 Year Initial Term with Absolute NNN Lease Structure and Corporate Guarantee
- The bank is an insured member of the FDIC
- Prime Location: Strategically located in Pascagoula's central business district along a key corridor
- Established Tenant: Sale-leaseback to a top 200 regional community bank with reported assets exceeding $1.4 billion & a history spanning over 100 yrs
- Corporate Guarantee: Lease Guarantee from the banks publicly traded holding company the Citizens Holding Company (OTCQX: CIZN)
- The branch benefits from steady traffic from major industrial anchors—Ingalls Shipbuilding, Chevron Pascagoula Refinery, & Port Pascagoula
Executive Summary
Randall Commercial Group, LLC is pleased to present an exceptional sale-leaseback opportunity in Pascagoula, MS. The property will be leased back to The Citizens Bank of Philadelphia—a well-established MS-based community bank founded in 1908 with multiple branches statewide—under a new 15-year absolute NNN lease commencing at closing, featuring 2% annual rent increases and five 5-year renewal options. Situated on high-traffic Jackson Avenue, the branch offers prime visibility, accessibility, and exposure in Pascagoula's central business district. As the anchor of the Mississippi Gulf Coast's premier industrial and port-driven hub, Pascagoula benefits from massive nearby employers like Ingalls Shipbuilding (Huntington Ingalls Industries, MS's largest private employer with ~11K workers), Chevron Pascagoula Refinery (the state's largest refinery), and Port Pascagoula(generating $18.3B+ in annual economic output and supporting 28,000+ jobs statewide)—solidifying southern Mississippi’s core economic market.
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Bank
Building Size
8,275 SF
Building Class
C
Year Built
2010
Price
$4,073,846
Price Per SF
$492.31
Cap Rate
6.50%
NOI
$264,800
Tenancy
Single
Building Height
2 Stories
Building FAR
0.30
Lot Size
0.63 AC
Opportunity Zone
Yes
Zoning
AE
Parking
24 Spaces (2.9 Spaces per 1,000 SF Leased)
Frontage
145’ on Jackson Ave
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $179,713 | |
| Land Assessment | $9,454 | Total Assessment | $189,167 |
Property Taxes
Parcel Numbers
Land Assessment
$9,454
Improvements Assessment
$179,713
Total Assessment
$189,167
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The Citizens Bank | Pascagoula, MS | 1519 Jackson Ave
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