Current Use by Public Records
- Retail properties & Spaces
Property Details for 1647 Ms-1
- Year built
- 2023
- Lot size
- 1.55 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents the chance to acquire a fee-simple interest in a newly constructed (2023), 4,958 square foot Chick-fil-A restaurant located at 1647 MS-1, Greenville, MS 38701. The property boasts a 15-year absolute net lease with thirteen 5-year options, providing significant long-term stability. Rent increases of 10% every five years throughout the primary term and options ensure consistent income growth. The property sits on a 1.55-acre lot and benefits from a corporate guarantee, minimizing investor risk. With a current NOI of $232,555 and an asking price of $4,844,896, this offering presents a compelling 4.80% cap rate. The building, completed in 2023, features a modern design and multiple drive-thru lanes, reflecting Chick-fil-A's latest prototype. Its strategic location as an outparcel to the Greenville Mall, alongside other major retailers like Lowe's, Walmart, and Kroger, ensures high visibility and significant foot traffic. The property also benefits from its proximity to major roadways (Highway 1, with over 22,000 vehicles per day), schools, and recreational facilities, contributing to its strong market position. The lease commenced January 1, 2023, with the current occupancy at 100%. The lease term extends until July 31, 2039, offering a substantial remaining lease term of approximately 14.7 years. This is a truly passive investment opportunity with no landlord responsibilities.
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
- Greenville
- County
- Washington
- State
- Mississippi
- Longitude
- -91.04
- Latitude
- 33.3766
