5351 Highway Dr Jackson, MS 39211
- Retail properties
- 2,611 SF
- 0.53 lot acres
Current Use by Public Records
- Retail properties
Property Details for 5351 Highway Dr
- Lot size
- 0.53 lot acres
- Property size
- 2,611 SF
- Property type
- Retail properties
Description
This fee-simple retail investment opportunity presents a 2,611 square foot Popeyes restaurant located at 5351 N Hwy 55, Jackson, MS 39211. The property sits on a 0.53-acre lot and benefits from a high-traffic location at the intersection of N. Highway 55 and Canton Mart Road, experiencing 102,540 and 24,830 vehicles per day, respectively. The strong demographics boast over 278,670 people within a ten-mile radius. This single-tenant, net-leased property features a 20-year lease with 15.1 years remaining, commencing December 19, 2019, and expiring December 30, 2039. The current annual net operating income (NOI) is $86,200, with a 6.15% cap rate and a price per square foot of $536.82. The lease includes 1% annual escalations beginning in 2029, and six five-year renewal options. The tenant is Popeyes, operating under a franchise agreement with New CFH, LLC, a former large franchisee acquired by Carrols Restaurant Group, a subsidiary of Restaurant Brands International (the corporate owner of Popeyes). This provides significant corporate backing and stability for the investment. The asking price for this exceptional opportunity is $1,401,626. The property is 100% occupied.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jackson
- County
- Hinds
- State
- Mississippi
- Longitude
- -90.1494
- Latitude
- 32.3719
