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2885-91 South Lamar Blvd.

Land | 3.77 acres

Listing Contacts

Active

Asking Price: $5,100,000
Address 

2885 S Lamar Blvd, Oxford, MS 38655

Show on Map
Date Added
May 21, 2024
Days on Market
304 days
Time Since Last Update
32 days

Details

Property TypeLand, Mixed Use, Multifamily, Office
SubtypeApartment Building, Medical Office, Student Housing
Investment TypeValue Add
Investment Sub TypeRedevelopment
ClassB
Lease TypeNNN
TenancyMulti
Number of Tenants5
Lease Term10 years
Lease Commencement05/01/2022
Lease Expiration05/01/2032
Remaining Term7.1 years
Square Footage27,190
Net Rentable (sq ft)27,190
Price/Sq Ft$187.57
Cap Rate6.89%
Pro-Forma Cap Rate7.50%
Occupancy80%
Occupancy Date05/21/2024
NOI$351,138
Pro-Forma NOI$382,450
Units5
Beds4
Year Built1985
Year Renovated2022
Buildings5
Stories1
ZoningSCO
Lot Size (acres)3.77
Price/Acre (Land Value)$0/acre
Parking (spaces)70
Rent Bumps3%
Broker Co-OpNo
APN182D-04-001.00
Price/Unit$1,020,000
Lease Options2
Ground LeaseNo
OwnershipLLC

Marketing Description

Cannon Cleary McGraw proudly presents an unmatched investment opportunity at 2885 - 2891 South Lamar Blvd in the bustling heart of Oxford, MS.​ With frontage access to the popular S.​ Lamar Blvd, this 3.77-acre site features 27,190 sq ft of renovated building space, with 80% currently leased and ample room for further development.​ Situated in the sought-after Oxford medical district, the property is conveniently located just 2 miles from the vibrant Oxford Square.​ Zoned for multiple uses under Suburban Corridor regulations, including potential for multifamily developments, this offering provides a high 6.5% cap on current Net Operating Income.​ With strong tenant leases in place and a strategic location within a rapidly growing community that is ranked top in economic strength, don't miss the chance to seize this prime real estate opportunity.​

Investment Highlights

Prime Commercial Property in Oxford, MS

**Location:** 2 miles from Oxford Square and the University of Mississippi.

**Details:**
- **Area:** 3.77 acres
- **Building Space:** 27,190 sq. ft.
- **Occupancy:** 80% leased
- **Recent Remodel**

**Zoning:** High density, suitable for multi-family, single-family, commercial, and office uses.

**Accessibility:** Direct access to South Lamar Blvd.

**Investment Highlights:**
- **Immediate Cash Flow:** Current leases provide steady income.
- **Strategic Location:** Close to downtown and the university.
- **Development Potential:** Ample space for future projects.

Valuation Calculator

Valuation Calculator

Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$351,138.00
$29,261.50/mo

Valuation Metrics

0
DSCR
6.89%
Cap Rate
6.89%
ROI

Due Diligence

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Listing Contacts


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