6052 Us-98 Hattiesburg, MS 39402

Property Details for 6052 Us-98

Year built

2023

Lot size

0.61 lot acres

Property size

3,500 SF

Property type

Retail properties

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a 3,500 square foot, newly constructed Aspen Dental property located at 6052 US-98, Hattiesburg, Mississippi. The property is situated on a 0.61-acre lot and benefits from a brand new 10-year triple-net (NNN) lease with Aspen Dental, the largest and fastest-growing network of branded dental offices globally. The lease features built-in rent escalations every five years. The tenant is responsible for all operating expenses, including common area maintenance (CAM), property taxes, and insurance. This is a low-maintenance, high-return investment with a strong cap rate of 6.23% and a current net operating income (NOI) of $147,000. The property's prime location on US Highway 98 (53,000 vehicles per day) is an outparcel of a Walmart Supercenter, adjacent to a newly constructed Aldi, and across from a Target-anchored power center. Hattiesburg's robust economy, driven by healthcare, education, and military sectors, provides long-term market stability. The city's rapid growth, ranking 16th nationally from 2016-2022, further enhances the investment's potential. The property is surrounded by over two million square feet of retail space, including major national retailers like Lowe's, Kohl's, Petsmart, Dick's Sporting Goods, TJ Maxx, Sam's Club, Academy Sports, Ulta, and Ross. The asking price is $2,359,550, representing a price per square foot of $674.16. This is a compelling investment opportunity in a thriving market with a recession-resistant tenant and a long-term lease.

Location Insight

City

Hattiesburg

County

Lamar

State

Mississippi

Longitude

-89.378

Latitude

31.3219