Address: 517 Washington Ave, Greenville, MS 38701
The McEnery Company is proud to present the Lofts at 517, an impeccably restored mixed-use complex, with profitable businesses and all FF&E, available for sale. Priced at only fraction of replacement cost, this unique offering features a tax-advantaged location, stable existing cash flow, and the ability to immediately add value by capturing significant operational upside and a double digit un-leveraged capitalization rate return.
The subject property is located in Greenville, MS, the capital of the Mississippi Delta. Washington Avenue is the primary thoroughfare and the core of the
Downtown Historic District. The entire downtown core is within a Qualified Federal Opportunity Zone, a rapidly growing market amid a surge of recent public and private investment.
The 72,787 square foot assemblage includes a contiguous row of four (4) impeccably restored historic commercial buildings, including a 1940’s-era Sears Roebuck Department Store, that were thoughtfully reimagined in 2017 featuring a complimentary mixture of ground-floor retail, hospitality, and loft-style residential apartments.
Sale Price: $3,900,000 | $53.58 PSF
Gross Building Area: 72,787 SF
Total Rentable Area: 52,883 SF
Gross Site Size: 42,900 SF
#of floors: 3 floors
# of buildings: 4 commercial buildings
For further listing details please contact Parke McEnery at 504-236-9542.
