Current Use by Public Records
- Lifestyle centers
Property Details for 2248 Simpson Highway 28
- Year built
- 2021
- Lot size
- 1.36 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a fee-simple ownership of a 9,139 square foot Dollar General store in Pinola, Mississippi. The property boasts a 15.1-year absolute NNN lease, commencing February 10, 2021, and expiring February 29, 2036, leaving zero landlord responsibilities. With 11.3 years remaining, the lease includes four five-year renewal options, each with a 10% rent increase. The corporate guarantee from Dollar General, holding an investment-grade "BBB" credit rating, ensures financial stability. Located at 2248 Simpson Hwy 28 W, Pinola, MS 39149, this single-story building sits on a 1.36-acre lot and was constructed in 2021. The property enjoys 100% occupancy and generates a Net Operating Income (NOI) of $91,066, resulting in a 7.35% cap rate and a price per square foot of $135.57. The asking price is $1,238,993. This strategically positioned store benefits from high visibility at the intersection of Johnny Bush Road and Highway 28, a location with 2,710 vehicles per day. The strong demographics, including a 10-mile population of 7,354 and a 10-mile average household income of $63,859, further solidify this investment's potential. Ideal for a 1031 exchange or passive investor seeking a secure, high-return retail investment.
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
- Pinola
- County
- Simpson
- State
- Mississippi
- Longitude
- -89.9626
- Latitude
- 31.88
