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    1647 Ms-1 Greenville, MS 38701

    For Sale
    $4,844,896

    High-yield Chick-fil-A NNN lease. Excellent location.

    Property size:
    4,958 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents the chance to acquire a fee-simple interest in a newly constructed (2023), 4,958 square foot Chick-fil-A restaurant located at 1647 MS-1, Greenville, MS 38701. The property boasts a 15-year absolute net lease with thirteen 5-year options, providing significant long-term stability. Rent increases of 10% every five years throughout the primary term and options ensure consistent income growth. The property sits on a 1.55-acre lot and benefits from a corporate guarantee, minimizing investor risk. With a current NOI of $232,555 and an asking price of $4,844,896, this offering presents a compelling 4.80% cap rate. The building, completed in 2023, features a modern design and multiple drive-thru lanes, reflecting Chick-fil-A's latest prototype. Its strategic location as an outparcel to the Greenville Mall, alongside other major retailers like Lowe's, Walmart, and Kroger, ensures high visibility and significant foot traffic. The property also benefits from its proximity to major roadways (Highway 1, with over 22,000 vehicles per day), schools, and recreational facilities, contributing to its strong market position. The lease commenced January 1, 2023, with the current occupancy at 100%. The lease term extends until July 31, 2039, offering a substantial remaining lease term of approximately 14.7 years. This is a truly passive investment opportunity with no landlord responsibilities.

    Property Features for 1647 Ms-1

    General Information

    Property type
    Restaurants
    Square Feet
    4,958 SF
    Lot Size
    67,518 SF

    Building Details

    Year Built
    2023

    HighLights

    • Fee‑simple interest in a newly constructed (2023) 4,958 SF Chick‑fil‑A.
    • 15‑year absolute net lease with thirteen 5‑year options; 10% rent increases every five years.
    • $4,844,896 asking price, 4.80% cap rate, $232,555 current NOI.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Greenville
    County
    Washington
    State
    Mississippi
    Longitude
    -91.039992896638
    Latitude
    33.376642483435

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    FAQs

    What type of property is this?
    Restaurant - High-yield Chick-fil-A NNN lease. Excellent location.
    Where is this restaurant located?
    The property is located at 1647 Ms-1 Greenville, MS.
    What is the asking price?
    The asking price for this property is $4,844,896.
    What are key features of this property?
    This property features: Fee-simple interest in a newly constructed (2023) 4,958 SF Chick-fil-A.; 15-year absolute net lease with thirteen 5-year options; 10% rent increases every five years.; $4,844,896 asking price, 4.80% cap rate, $232,555 current NOI.
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    Greenville, MS 38701
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1647 Ms-1 Greenville, MS 38701
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