301 American Ave Booneville, MS 38829
- Retail properties
- 14,889 SF
- 1.98 lot acres
Current Use by Public Records
- Retail properties
Property Details for 301 American Ave
- Year built
- 2010
- Lot size
- 1.98 lot acres
- Property size
- 14,889 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a 14,889-square-foot CVS Pharmacy in Booneville, Mississippi, on a 1.975-acre lot. The property boasts a strong 6.50% cap rate and a substantial net operating income (NOI) of $193,230. The absolute NNN lease with a credit-rated tenant, CVS Pharmacy, provides significant security and minimal landlord responsibilities. With over 11.2 years remaining on the primary lease term (expiring January 31, 2036), and ten 5-year renewal options, this investment offers long-term stability. Built in 2010, the property enjoys a prime location on American Ave, a high-traffic area (11,000 vehicles per day), surrounded by national retailers like Walmart, Tractor Supply Company, and McDonald's. Its proximity to Northeast Mississippi Community College (3,400 students) further enhances its appeal. Limited competition within the area adds to the investment's strength. The property's price per square foot is $199.66, reflecting a compelling value proposition. This is a rare opportunity to acquire a well-established, high-performing CVS Pharmacy investment with significant long-term potential. The property features a drive-thru for added convenience.
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
- Booneville
- County
- Prentiss
- State
- Mississippi
- Longitude
- -88.5598
- Latitude
- 34.6762
