INVESTMENT OPPORTUNITY | OFFERING MEMORANDUM

The Courthouse
46 Northtown Drive, Jackson, Mississippi
EXCLUSIVELY LISTED BY:

Contents
03 06
Offering Property
09 Investment
Murray D. Wikol
Memorandum Summary Summary
mwikol@provisions.ws
601-653-2935

12 16
Adaptive Reuse Property
25 Floor Plans &
Concepts Photos Survey

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Offering Memorandum

Ross R Barnett Reservoir

THE
COURTHOUSE

ProVisions, LLC and/or its affiliates, are pleased to

present the exclusive sale of The Courthouse,
OFFERING SUMMARY
situated at 46 Northtown Drive in Northeast SIZE ZONING
Jackson, Mississippi.
57,329 Square Feet C-3 Commercial
The Courthouse presents an exceptional mixed-use
potential, providing a diverse array of possibilities.
6.58 Acres
FACILITY RENOVATIONS
Mixed Use 2021-2023

3
Offering Memorandum (continued)

PROPERTY SUMMARY
ADDRESS
46 Northtown Drive
Jackson, Mississippi 39211

BUILDING AREA
57,329 Square Feet

LAND AREA
6.58 Acres

RENOVATIONS
2021 to 2023

2024 PROJECTED NET OPERATING

INCOME (NOI)
$518,326

AMENITIES
Clear Heights up to 25 feet
(44) Pickle Ball / (12) Tennis Outdoor Courts
(10) Pickle Ball / (3) Tennis Indoor Courts
(2) Olympic Size Pools (Outdoor & Indoor)
(2) Indoor Spas
Dance, Yoga, Spinning, Exercise and Workout Studios
4
Offering Memorandum (continued)

INVESTMENT HIGHLIGHTS

 Excellent Location

 Adaptive Reuse

 Outstanding Value-Add Opportunity

 25 Foot- Clear Heights

 154 On-site surface parking spaces

 New Roof with Warranty from

Manufacturer

5
Property Summary

Courts
2023 Capital Improvements

Pools & Spas

Roof

Façade

6
Tennis Courts

12 Outdoor
Te n n i s C o u r t s

3 Indoor
Te n n i s C o u r t s Six (6) Outdoor Hard-Surface (Acrylic Coated Concrete) Tennis Courts
Six (6) Outdoor Soft-Surface (Rubico) Tennis Courts
Three (3) Indoor Tennis Courts 7
 Pickleball Courts

44 Outdoor
Pickleball
Courts

10 Indoor
Pickleball
Courts

Twenty (20) Pickleball Courts / Six (6) Hard-Surface (Acrylic Coated Concrete) Tennis Courts
Twenty-Four (24) Pickleball Courts / Six (6) Soft-Surface (Rubico) Tennis Courts
Ten (10) Pickleball Courts / Three (3) Indoor Tennis Courts 8
Investment Summary

PICKLEBALL / TENNIS /HEALTH CLUB OPERATOR FINANCIAL MODEL

(Private Club with Public Access)

Membership Revenue
Membership Monthly Membership Monthly Yearly Total

400 Members $75 $30,000 $360,000.00

Court Revenue
Court Hourly Rate Daily Total Annual Gross Revenue

Outdoor Pickleball / Tennis $30 $19,800 $7,227,000

Indoor Pickleball / Tennis $50 $7,500 $2,737,500
Annual Gross Revenue 80% Capacity: $8,619,600
Annual Gross Revenue 70% Capacity: $7,587,150
Annual Gross Revenue 60% Capacity: $6,554,700

Annual Gross Revenue is based on operating 14 hours per day from 7AM to 9PM

2024 NET OPERATING INCOME AT 70% CAPACITY: $5,657,228

9
Investment Summary

TENANT FINANICAL MODEL

57,329 Year One

Building Rent/ Square
Square Feet Foot (NNN) 2024 2025 2026
Gross Revenue

USTA / Pickle Ball Groups 1 39,829 8.62 $343,326 $350,192 $357,196

Recreational Lease Space 2 17,500 10.50 $175,000 $178,500 $182,070

Total Triple Net (NNN) Net Operating Income $518,326 $528,692 $550,052

1USTA (Mississippi Tennis Association) / Pickleball Group

2 Fitness Recreational and Performance Sports User

10
Investment Summary

DISTRIBUTION / PUBLIC STORAGE / INDUSTRIAL FINANICAL MODEL

Year One
57,329 Rent /
Building Square
Square Feet Foot (NNN) 2024 2025 2026
Gross Revenue

Public Storage User 27,538 $6.82 $187,812 $191,569 $195,400

Distribution User 29,791 $5.28 $157,294 $160,440 $163,649

Total Triple Net (NNN) Net Operating Income $345,106 $352,008 $359,049

11
Adaptive Reuse Concepts

POTENTIAL USES: ZONING

C-3 General Commercial District

 Pickleball / Tennis / Racquet Ball USE

Mixed Use
 Sports Fitness / Recreation
SQUARE FOOTAGE
 Events / Entertainment / Conferences 57,329 SF

 Education/ Community / Worship Center CLEAR HEIGHTS

Up to 25 feet
 Retail / Flex / Office

 Industrial / Distribution

 Healthcare

 Public Storage

 Multi-Family Housing

12
Adaptive Reuse Concepts (continued)

RETAIL & FAMILY ENTERTAINMENT

Existing Indoor
Tennis Court Area

13
Adaptive Reuse Concepts

INDUSTRIAL & TECH/FLEX

• Building Expansion
(Phase 2)

• Loading Docks

• Additional Parking

Existing Site

• Overhead Doors in existing punchout panels

• Windows in existing punchout panels

14
Adaptive Reuse Concepts

OFFICE / FLEX ADAPTIVE USE CONCEPT

Existing Open
Flex Area

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Property Photos

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Property Photos

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Floor Plans

FIRST FLOOR WITH INDOOR COURTS & POOL

Three (3) Indoor Tennis Courts

Ten (10) Indoor Pickleball Courts

25
Floor Plans

SECOND FLOOR & MEZZANINE

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Floor Plans

THIRD FLOOR

CLICK HERE TO VIEW

FULL SURVEY

27
Location Summary

Jackson, Mississippi

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Location Summary

THE COURTHOUSE

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Location Summary

THE COURTHOUSE

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Location Summary

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Murray D. Wikol Audrey Hanna
President & CEO Email Audrey Hanna
mwikol@provisions.ws 989-277-5400
601-653-2935

Kenyotta Brown
Project Manager
kbrown@provisions.ws
248-988-9341