Current Use by Public Records
- Lifestyle centers
Property Details for 2173 Ms-590
- Year built
- 2021
- Lot size
- 1.55 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a fee-simple ownership of a 9,226 square-foot Dollar General store in Ellisville, Mississippi. The property boasts a 15-year absolute NNN lease, commencing February 28, 2021, and expiring February 29, 2036, leaving zero landlord responsibilities. The lease includes four five-year renewal options, each with a 10% rent increase. The tenant, Dollar General, holds a BBB investment-grade credit rating, providing significant financial security. Located at 2173 MS-590, this highly visible store benefits from its strategic position at a busy intersection with 1,516 vehicles passing daily. The strong demographics further enhance the investment's appeal, with a 10-mile radius encompassing a population of 16,516 and an average household income of $61,052. The property sits on a 1.55-acre lot and was built in 2021. The asking price is $1,224,925, representing a cap rate of 7.35% and a price per square foot of $132.77. The current Net Operating Income (NOI) is $90,032. This single-tenant, single-story building offers a compelling opportunity for 1031 exchange buyers or passive investors seeking a secure, high-return investment in a nationally recognized brand. The property's current occupancy is 100%. This is a rare opportunity to acquire a well-performing, low-maintenance retail asset with a long-term lease and significant upside potential.
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
- Ellisville
- County
- Jones
- State
- Mississippi
- Longitude
- -89.3677
- Latitude
- 31.5644
