$1,048,267
$1,048,267
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6,722 SqFt
SOLD DATE : 10/01/2024
Key Details
Sold Price $1,048,267
Property Type Commercial
Sub Type Building and Land
Listing Status Sold
Purchase Type For Sale
Square Footage 6,722 sqft
Price per Sqft $155
Subdivision Metes & Bounds
MLS Listing ID 24036282
Sold Date 10/01/24
Style Traditional
Year Built 2020
Lot Size 1.000 Acres
Acres 1.0
Property Sub-Type Building and Land
Property Description
? Attractive 7.25% Cap Rate for a stabilized net lease property ? 23-Year operating history at this location (original lease started in 2001) ? 10% Rent increase on 9/1/2028 (Cap Rate will increase to 7.98%) ? Advance Auto signed a brand new lease in 2020 proving their commitment to the site and market ? Corporate guarantee from Advance Auto Parts ? ±9 Years remaining on a NNN lease ? Average household income of $78k annually; ideal for an auto parts retailer such as Advance Auto ? Traffic counts along Highway 90 exceed 23,750 vehicles daily ? Located near several national retailers and neighbors to many notable tenants including Walmart, Lowes, Tractor Supply, Walgreens, Foot Locker, Caliber Collision, and McDonalds to name a few
Location
State MS
County Hancock
Area Mississippi (State Of)
Interior
Heating Central Cool-Electric, Central Heat-Electric
Flooring Tile
Exterior
Garage Spaces 20.0
Utilities Available Water-Public, Electric-Municipal
Roof Type Metal
Building
Lot Description Level
Foundation Slab
New Construction No
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Bought with Halsey Thrasher Harpole Real Estate Group
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