Residential Development potential in Opportunity Zone

Multi-Family for Sale
Catylist Listing ID: 30673405
Property Subtypes: Mobile Home Park
Number of Units: 40 Units
Building Size (RSF): 40,000 SF
Gross Building Area: See Agent
Gross Land Area: 75 - 85 Acres
Sale Price: $3,500,000
Unit Price: $87,500 Per Unit
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 90
Last Updated: 1/20/2021

Overview / Comments

Great location for residential development area in Opportunity Zone. Located just 2 minutes from I-20 Exit 4B in Vicksburg, 3 minutes for Outlets of Vicksburg, hotels, restaurants and next to the main YMCA campus. Also, just 28 minutes from the new Continental Tire Company near Bolton, MS. Property is currently a mobile home and multi housing. Located just outside the city limits. There are a couple of extra tracts within the city limits available.

Consists of

Los Colinas, 11 houses @$900/month =$9900
St. Patrick ST, 17 houses and MH @ $700/month = $11900
12 trailers @ $600/month = $7200
total income $337,200

The tire company plans to hire 250-500 people in its first phase from October 2018 through 2019. It then plans for expansion through 2028 that will total 2,500 jobs, per the company's agreements to invest $1.45 billion in the plant and create jobs in exchange for pledges of about $650 million in spending and tax breaks from state and local governments.

Additional Details

Nearest MSA: Vicksburg
County: Warren
Taxing Authority: Warren County
Tax ID/APN: 107 31 0040 001100 and others
Zoning: COMMERCIAL
Property Located Between: Clay Street and Highway 27
Highway Access: I-20
Airports: Vicksburg-Tallulah Regional Airport and Medgar Evers International Airport
Water Service: Other
Sewer Type: Septic
Legal Description: Approx 60 acres in one tract, LOTS: 2 PT & PT 8 , PLAT BOOK 1- FF PAGE- 650, PLAT BOOK 2- FF PAGE- 651

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,612 20,941 35,200
Median Age: 34.55 37.67 37.2
Households: 613 8,436 13,816

Contact

Photograph of Listing Agent

Pam Powers

Powers Properties Oxford, MS 38655
LACDB Member
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