1403 Ms-540 Mendenhall, MS 39114

Property Details for 1403 Ms-540

Year built

2020

Lot size

1.55 lot acres

Property size

9,237 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a fee-simple ownership of a 9,237 square-foot Dollar General store in Mendenhall, Mississippi. Located at 1403 MS-540, this single-story building, constructed in 2020, sits on a 1.55-acre lot and boasts a 100% occupancy rate. The property is secured by an absolute NNN lease with a corporate guarantee from Dollar General, offering zero landlord responsibilities. The current lease, commencing November 11, 2020, and expiring November 30, 2035, has a remaining term of 11 years, with four five-year renewal options, each including a 10% rent increase. The current annual net operating income (NOI) is $92,484, representing a 7.35% cap rate and a price per square foot of $136.22. The asking price is $1,258,286. This strategically positioned property benefits from high visibility at a major intersection, experiencing 1,713 vehicles per day. The surrounding area demonstrates strong demographics, with a 10-mile population of 17,965 and an average household income of $67,878. Dollar General's investment-grade credit rating ("BBB") further enhances the security and stability of this investment, making it ideal for a 1031 exchange or passive investor seeking a low-maintenance, high-return property. The property is suitable for a 1031 exchange.

Location Insight

City

Mendenhall

County

Simpson

State

Mississippi

Longitude

-89.7542

Latitude

31.9732