Retail/Grocery Hybrid
Property Type
47,192 sq ft
Area Size
1998
Year Built
Winn-Dixie
Former Business
372
Parking Spaces
Oportunity Zone
Parcel ID
072-10-1-2945-000-00100
Price
Inquire for Price
Frontage Street Name
Highway 19 N
Frontage Length
600 feet
Lot Size
7.02 acres
Zoning
GC
Description
This sprawling 47,192 SF former Winn-Dixie grocery box on a expansive 7.02-acre parcel emerges as a rare redevelopment canvas in Meridian’s thriving north corridor, mere blocks from MSU-Meridian’s 700-student campus and Meridian Community College’s 4,000-strong enrollment, while anchoring a supercenter strip flanked by Walmart, Tractor Supply, and dual hospitals (Anderson Regional’s 260 beds and Rush Foundation’s 215). This property boasts C-2 commercial zoning for grocery relaunch, mixed-use expansion, or flex retail/warehouse pivot, complete with an open floor plan, dual receiving bays, 600 feet of prime Hwy 19 N frontage, and a generous 372 parking spaces (7.88/1,000 SF ratio) for peak traffic handling.
Built in 1998 with sturdy slab-on-grade resilience and immediate NMTC eligibility unlocking 39% tax credits over seven years, this asset leverages Meridian’s 1.1% annual population uptick to 36,000 residents by 2029, in a micropolitan market where retail vacancy idles at 4.2% amid $2B yearly local spend and military-backed stability from Naval Air Station Meridian’s 4,000 jobs. Positioned for 6-8% cap rate lock-in via NNN leasing to anchors, it captures the dual draw of student velocity and healthcare commuters in Mississippi’s sixth-largest city.
Investment Highlights
- Tax-Alpha Accelerator: NMTC certification slots this into a qualified low-income tract, layering 39% credits atop 1031 deferral for blended 12-15% IRRs—I’ve engineered similar Mississippi plays netting 18% uplifts for HNW impact investors blending yield with community reset.
- Student & Healthcare Surge: 7,000 college kids within 2 miles fuel $150M+ annual off-campus spend, while 475 hospital beds draw 500K+ regional visits yearly—ironclad buffers against retail slumps, with vacancy never breaching 5% in this education-med hub.
- Corridor Command: 600 ft frontage on Hwy 19 N’s 28,000 VPD spine, embedded in a national retailer row (Walmart adjacency)—expect 20% NOI pop from spillover traffic in a market absorbing 150K SF quarterly without new supply.
- Growth Velocity Engine: Meridian’s micropolitan pop ticks 1.1% to 36K by 2029, with Lauderdale County retail jobs at 5,280 and $2B spend—outstripping state averages for 3-5% rent hikes in underserved grocery/flex nodes.
- Redevelopment Rocket Fuel: Oversized 7-acre pad begs outparcel adds (think QSR pods or EV charging), comping to $75/SF stabilized; project 25% equity flip in 24 months via grocery or logistics tenanting in a cap-compressing 6% submarket.
- Recession-Proof Backbone: Military (4K jobs at NAS Meridian) and healthcare anchors ensure 90% local workforce retention within 45 miles—no flood zones, NNN scalability, and Riley Center tourism injecting 60K visitors annually for cultural-retail synergy.
Features
Loading Bays
Redevelopment Potential
High visibility
Demographics
Anchored on Hwy 19 N’s bustling north spine—a vital artery linking Meridian’s supercenter ecosystem—the site commands 28,000+ daily vehicles, channeling steady commuter and shopper streams into this NMTC-eligible redevelopment zone.
• The 1-mile radius cradles a tight-knit base of 1,600 residents across 629 households, bolstered by young families (median age 33) and proximity to 7,000 college students at MSU-Meridian and Meridian CC, fostering high-frequency grocery and convenience demand.
• Stretching to 3 miles envelops 23,000 residents in 9,000 households, weaving in Lauderdale County’s 90% local workforce—dominated by military (4,000 jobs at NAS Meridian) and retail (5,280 employed)—for a resilient, spend-heavy demo eyeing $2B annual citywide retail outlay.
• The 5-mile expanse balloons to 40,000 residents over 15,600 households, mirroring Meridian’s micropolitan pulse as Mississippi’s sixth-largest city: a cultural crossroads with nine historic districts, Riley Center drawing 60K tourists yearly, and median incomes climbing 24% projected to 2029 amid 1.1% pop growth.
• Beyond metrics, Meridian thrives as a Southern revival hub—blending naval aviation stability, dual-hospital healthcare (475 beds total), and arts vibrancy (Meridian Symphony, Museum of Art)—positioning this parcel for outsized returns in a market where education and employment convergence drives 15%+ above-state consumer velocity.