For Sale
$750,000

1157 Casino Center DrTunica Resorts, MS 38664

Tunica Resorts retail center, value-add opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
116
This 14,300 square foot, single-story shopping center in Tunica Resorts, MS, presents a compelling value-add investment opportunity. Located at 1157 Casino Center Dr, 38664, this property boasts a prime location at the entrance to five heavily trafficked casinos, benefiting from the significant $450 million investment in the Gold Strike Casino in 2023. Currently featuring three tenants across five units with 50% occupancy and a remaining lease term of 2.3 years, the center offers substantial potential for increased cash flow through lease-up of the vacant space. Built in 1999, the 1-building property sits on a 3.29-acre lot and offers a mix of retail, office, and potential restaurant/flex spaces. The property is in good condition and has been well-maintained by the seller. Its proximity to major highways, national retailers (Dollar Tree, Family Dollar, AutoZone), and a 300-unit apartment complex further enhances its appeal. The asking price is $750,000, translating to $52.45 per square foot. The current Net Operating Income (NOI) is $15,530. Abundant parking is available. This is an ideal opportunity for owner-users or investors seeking to capitalize on the thriving gaming industry and underserved retail market in the area.

Highlights

  • 50% vacancy allows owner-user or investor to capitalize on existing income and lease up vacant space for increased cash flow and appreciation.
  • Excellent owner-user investment opportunity.
  • Lease-up potential for immediate year-one cash flow increase.
  • Property meticulously maintained by owner.
  • Property in good condition.
  • Prime location at the entrance to five major casinos; $450 million Gold Strike Casino investment in 2023 demonstrates strong regional gaming commitment.

Property Details for 1157 Casino Center Dr

Property type
Lifestyle centers, Power centers
Square Feet
14,300 SF
Year Built
1999
Buildings
1
Stories
1
Lot Size (sq. ft)
143,312 SF
Units
5

Location Insight

City
Tunica Resorts
County
Tunica
State
Mississippi
Latitude
34.829640619722
Longitude
-90.280746802824
1157 Casino Center Dr, Tunica Resorts, Mississippi

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1157 Casino Center Dr
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