1019 Bankhead StNew Albany, MS 38652

This 384-square-foot mixed-use property in New Albany, Mississippi, presents a compelling investment opportunity. Located at 1019 E Bankhead St, this Class B building boasts a prime location on Highway 178, enjoying high visibility and accessibility with an impressive Annual Average Daily Traffic (AADT) of 3,900 vehicles in 2022, according to MDOT data. Built in 2017, the single-story structure features a functional layout ideal for various uses, including its current configuration as a used car dealership. The property includes two spacious offices and a bathroom. The building's design allows for a potential drive-thru window, enhancing operational flexibility. An open lot adjacent to the pavement offers room for future expansion. The property is currently leased, generating a Net Operating Income (NOI) of $875, resulting in an attractive 11.80% cap rate. The asking price is $89,000, translating to $231.77 per square foot. The property is zoned for industrial use and sits on a 1-square-foot lot (APN: 047N-16-005.03). The lease is a gross lease with a single tenant and is currently in place until July 2025. All information is subject to verification.