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9 Shenandoah Drive, 5 Shears Road, Hattiesburg, MS, 39402

The Grande at Timberwood & The Grande at Hub City

$8,100,000

Key Information

Cap Rate
8.9%
Tot. SF
109,856
Lot Size
7.19 Acres
$ per unit
$64,800
Units
125
Year Built
1980/2002
Type
Apartments
NOI
$720,595

Highlights

• Located in the prestigious Oak Grove School District
• Over $800,000 invested into capex and renovations
• Washer & dryer connections in all units
• Separately metered for both water & power

• Prime Access: Direct connection to I-59 with two nearby exits and quick access to Laurel, Hattiesburg, and Hattiesburg–Laurel Regional Airport.
• Strong, Growing Market: Lamar County has grown more than 20% since 2010 to nearly 68,000 residents, with a median household income of $70,909 — well above the Mississippi state median. Neighboring Jones County adds another ~67,000 residents to the trade area.
• Retail Access: Walking distance to Turtle Creek Mall — anchored by Belk, Dillard’s, JCPenney, and At Home with 80+ specialty retailers including American Eagle, Bath & Body Works, Ulta, and Victoria’s Secret — plus national quick-service restaurants and retailers along Hill St/US-11.
• Economic Drivers: Howard Industries’ large facilities provide stable employment and steady demand in the local market.
• Education Hub: University of Southern Mississippi, with 13,000+ students, is less than 2 miles away, driving strong daytime and service demand.
• Healthcare Anchor: South Central Regional Medical Center in nearby Laurel draws patients and visitors from across six counties, boosting regional traffic and spending.

Photos

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Agents

Broker of Record

Phillip Carpenter

License # 8906, C-11708 (MS)
Carpenter Properties, Inc.
1437 Old Square Road, Suite 104 Jackson, MS 39211