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$1 Auction - REIT Sale | Former NAPA Auto 5608 N State St 6,000 SF Retail Building Jackson, MS 39206 $125,000 ($20.83/SF)
Investment Highlights
- ABSOLUTE $1 AUCTION | Former NAPA Auto Parts | 23K VPD | Jackson, MS | AUCTION OCTOBER 27-29
- 23K+ VPD Traffic Counts at Signalized Intersection (±17,245 VPD on US Hwy 51 & ±6,447 VPD on Presto Lane)
- Attractive Demographics with 5-Mile Population of ±100,644 People with Annual Household Income of $66,806
- 6,000 SF Value-Add Retail (Former NAPA Auto Parts) in Jackson, MS; ±1-mile from I-55 (±89K VPD)
- Nearby Demand Drivers: CarMax, Chili’s, Dollar General, Sonic, Aamco Transmissions, Exxon, Salvation Army, Callaway High School
- Zoning: I-2, Heavy Industrial, allowing Flexibility and a Variety of Uses
Executive Summary
Marcus & Millichap is pleased to present a vacant, free-standing retail building located at 5608 N State Street in Jackson, Mississippi (the “Property”). Formerly occupied by NAPA Auto Parts, the Property is being offered significantly below replacement cost, providing an excellent opportunity for owner/users or investors to acquire a highly visible and strategically positioned asset at a significant discount. FIRST BID MEETS RESERVE!
Built in 2007, the Property consists of a one-story, free-standing retail building containing ±6,000 square feet, with 26 total surface parking spaces on a ±0.75-acre parcel. The site is positioned on a hard corner and is easily accessible via two (2) ingress/egress curb cuts and 159’ frontage along US Highway 51 and 171’ frontage along Culley Drive. Zoned I-2, Heavy Industrial District, this zoning offers favorable flexible zoning allowing for a variety of uses.
The Property is located in Jackson, Mississippi, the state’s capital and largest city, within Hinds County and the North Jackson submarket. The Property benefits from excellent highway visibility and access on US Highway 51 (N State Street) with traffic counts of 17,245 vehicles per day at the signalized intersection of Presto Lane with 6,447 VPD. Positioned 1-mile west of I-55 (±89K VPD), the site offers excellent accessibility to major transportation corridors, including I-220 (±64,559 VPD) and Natchez Trace Pkwy, facilitating regional connectivity. The surrounding area features a strong mix of national retailers such as CarMax, Chili’s, Dollar General, Sonic, Aamco Transmissions, Exxon, and Salvation Army, which cater to both local residents and transient traffic along US-51. The Property is located just ±10-min from downtown Jackson and just south of the cities of Ridgeland and Madison. The Property is positioned in a dense and established trade area, with ±51,210 residents within a 3-mile radius and ±100,644 residents within a 5-mile radius, boasting an average household income of $66,806.
Built in 2007, the Property consists of a one-story, free-standing retail building containing ±6,000 square feet, with 26 total surface parking spaces on a ±0.75-acre parcel. The site is positioned on a hard corner and is easily accessible via two (2) ingress/egress curb cuts and 159’ frontage along US Highway 51 and 171’ frontage along Culley Drive. Zoned I-2, Heavy Industrial District, this zoning offers favorable flexible zoning allowing for a variety of uses.
The Property is located in Jackson, Mississippi, the state’s capital and largest city, within Hinds County and the North Jackson submarket. The Property benefits from excellent highway visibility and access on US Highway 51 (N State Street) with traffic counts of 17,245 vehicles per day at the signalized intersection of Presto Lane with 6,447 VPD. Positioned 1-mile west of I-55 (±89K VPD), the site offers excellent accessibility to major transportation corridors, including I-220 (±64,559 VPD) and Natchez Trace Pkwy, facilitating regional connectivity. The surrounding area features a strong mix of national retailers such as CarMax, Chili’s, Dollar General, Sonic, Aamco Transmissions, Exxon, and Salvation Army, which cater to both local residents and transient traffic along US-51. The Property is located just ±10-min from downtown Jackson and just south of the cities of Ridgeland and Madison. The Property is positioned in a dense and established trade area, with ±51,210 residents within a 3-mile radius and ±100,644 residents within a 5-mile radius, boasting an average household income of $66,806.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,000 SF
Building Class
B
Year Built
2007
Price
$125,000
Price Per SF
$20.83
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.00 AC
Zoning
Commercial
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0723-0021-003 | Improvements Assessment | $41,715 |
| Land Assessment | $7,352 | Total Assessment | $49,067 |
Property Taxes
Parcel Number
0723-0021-003
Land Assessment
$7,352
Improvements Assessment
$41,715
Total Assessment
$49,067
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$1 Auction - REIT Sale | Former NAPA Auto | 5608 N State St
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