Current Use by Public Records
- Retail properties & Spaces
Property Details for 504 Us-90
- Year built
- 2023
- Lot size
- 2.65 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a brand-new, 4,080-square-foot retail building in Waveland, Mississippi. Completed in 2023, the property boasts a 100% occupancy rate with two prominent tenants: T-Mobile and Tropical Smoothie Cafe. Both tenants are operating under 10-year net leases, including two 5-year options, minimizing landlord responsibilities and offering significant long-term stability. The property features a 7.00% cap rate and a strong net operating income (NOI) of $138,720. Situated on a 2.65-acre lot, the single-story building enjoys a highly visible location on US-90, a major retail thoroughfare with 27,004 vehicles per day. This prime location benefits from a signalized intersection and proximity to a Walmart Supercenter, as well as other national retailers including Lowe's, Walgreens, Dollar Tree, Planet Fitness, Harbor Freight Tools, McDonald's, and Arby's. The property's location within a densely populated area with a strong average household income further enhances its investment appeal. The leases include 10% rental escalations every five years, providing a hedge against inflation. This is a rare opportunity to acquire a stabilized, multi-tenant retail property with exceptional long-term growth potential. The property is offered at an asking price of $1,980,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waveland
- County
- Hancock
- State
- Mississippi
- Longitude
- -89.387
- Latitude
- 30.303
