1580 Us-72 Corinth, MS 38834
- Retail properties
- 2,500 SF
- 1.42 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1580 Us-72
- Year built
- 2022
- Lot size
- 1.42 lot acres
- Property size
- 2,500 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This fee-simple ownership opportunity presents a 2,500 square foot Starbucks in Corinth, Mississippi. The property, built in 2022, boasts a 12.9-year remaining lease term with six 5-year options, ensuring long-term income. The lease is a triple-net (NN) agreement with a corporate guarantee (S&P: BBB+), minimizing landlord responsibilities to roof, structure, and parking lot. Rental increases are built-in, with 10% increases every five years and 8% at the start of each option period, providing inflation protection. The property sits on a 1.42-acre lot with 42 parking spaces and enjoys excellent visibility and access due to its strategic location on US Highway 72 (24,000 vehicles per day), a major retail thoroughfare. The site benefits from a dense retail corridor with numerous national tenants, strong demographics (average household income of $66,752 within a 5-mile radius), and a drive-thru. The property's Net Operating Income (NOI) is $159,376, yielding a 6.38% cap rate at an asking price of $2,500,000 ($1,000 per square foot). The permitted zoning is General Commercial. This investment offers a compelling combination of strong tenant, location, and lease terms.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Corinth
- County
- Alcorn
- State
- Mississippi
- Longitude
- -88.507
- Latitude
- 34.9166
