Single-Tenant Retail Net Lease
For Sale
Contact for pricing
424 W Cunningham Ave., Terry, MS 39170
Newer 16,799 SF single-tenant retail building constructed of split block and metal siding under an assumed lease.
Property Size16,799 SF
Days on Market124
Property Features for 424 W Cunningham Ave.
General Information
Standard status
Active
Size
16,799 SF
Property subtype
Retail
Additional Details
Highway Access
Yes
Building Details
Construction
split block and metal siding
Tenancy
Single
Listing Agency:
Randall Commercial Group, LLC
(662) 234-4043
Listed By:
Elizabeth Randall · License #MS 19734
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 21 at 5:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Randall Commercial Group, LLC
Investment Insights
Based on property information with market context.
This offering includes a newly constructed, single-tenant retail building built to support Fred’s Super Dollar and Pharmacy. The approximately 16,799-square-foot structure is constructed of split block and metal siding and is currently in place under a lease with tenant Fred’s Stores of Tennessee, Inc.
The lease features a 12-year initial term with three additional 5-year renewal options, with rental increases of 5% at each renewal period. Approximately 9 years remain on the lease. The tenant is responsible for property taxes and property insurance, maintenance of the interior, utility expenses, and pays a CAM reimbursement fee.
The land is ground leased and is not transferring with this purchase. The buyer would purchase the building improvements, assume the existing lease, and ground lease the land from a third-party land owner. Fred’s Inc. owns the tenant entity, is publicly traded, and is not the tenant and not a guarantor of the lease.
The lease features a 12-year initial term with three additional 5-year renewal options, with rental increases of 5% at each renewal period. Approximately 9 years remain on the lease. The tenant is responsible for property taxes and property insurance, maintenance of the interior, utility expenses, and pays a CAM reimbursement fee.
The land is ground leased and is not transferring with this purchase. The buyer would purchase the building improvements, assume the existing lease, and ground lease the land from a third-party land owner. Fred’s Inc. owns the tenant entity, is publicly traded, and is not the tenant and not a guarantor of the lease.
Key Highlights
- 16,799 SF newer single‑tenant retail building constructed of split block and metal siding
- 12‑year initial lease term with three 5‑year renewal options at 5% rental increases; ~9 years remaining
- Tenant responsibilities: property taxes, property insurance, interior maintenance, utility expenses, and CAM reimbursement
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Dining 10%
Dollar General
Shops & Services
9,253 visits/mo
0.1 miles
Texaco
Shops & Services
8,499 visits/mo
0.2 miles
Shell
Shops & Services
8,130 visits/mo
0.5 miles
Krispy Krunchy Chicken
Dining
2,853 visits/mo
0.5 miles
Texaco Station
Shops & Services
573 visits/mo
0.2 miles
Demographics for 39170, MS
9,303
Population
3,899
Households
2.4
Avg Household Size
47
Median Age
32%
College-Educated
91%
High-School Grad
97.0 sq mi
ZIP Area
96
Density / Sq Mi
$69,000
Median Household Income
$42,796
Median Earnings
$972
Median Rent
$235,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Newer 16,799 SF single-tenant retail building constructed of split block and metal siding under an assumed lease.
Where is this retail space located?
The property is located at 424 W Cunningham Ave. Terry, MS.
What are key features of this property?
This property features: 16,799 SF newer single‑tenant retail building constructed of split block and metal siding; 12‑year initial lease term with three 5‑year renewal options at 5% rental increases; ~9 years remaining; Tenant responsibilities: property taxes, property insurance, interior maintenance, utility expenses, and CAM reimbursement
