Cap Rate
7.27%
Lot Size
0.9 Acres
1008 South State Street, Clarksdale, MS, 38614
T-Mobile$1,150,000
Key Information
Term Remaining
±6 YRS
Type
Retail
NOI
$83,708
Leasable Area
2,462
Highlights
- Corporate Lease with T-Mobile: Over six years remaining on a 10-year absolute NNN lease with T-Mobile, a leading national wireless carrier.
- 2021 Retrofit: The property was fully retrofitted in 2021 to meet T-Mobile’s current specifications, minimizing near-term capital expenditure.
- Scheduled Rent Increase: Lease includes a 10% rent escalation in 2027, contributing to an adjusted cap rate of 8.00%.
- Prime Retail Positioning: Strategically located along South State Street, the primary commercial corridor in Clarksdale, and outparcel to a high-performing Walmart Supercenter.
- Established Retail Trade Area: Surrounded by nationally recognized tenants including Walmart, McDonald’s, Kroger, AutoZone, O’Reilly Auto Parts, Dollar Tree, Murphy USA, Popeyes, Taco Bell, and Hibbett Sports, reinforcing long-term retail demand.
- Demographic Profile: The property benefits from a ±5-mile population base of approximately 14,844 residents, supporting consistent consumer traffic.
- Regional Accessibility: Strong connectivity via U.S. Route 61 and U.S. Route 49, with Clarksdale located approximately 75 miles south of Memphis, a major economic hub in the Mid-South.
Photos
Location
Agents
B
Brett BaumgartnerLicense # 701324 (TX)
J
Josh BishopLicense # 688810 (TX)
Broker of Record
Phillip Carpenter
License # C-11708 (MS)Carpenter Properties, Inc.1437 Old Square Road, Suite 104 Jackson, MS 39211