Current Use by Public Records
- Retail properties & Spaces
Property Details for 421 Pineview Dr
- Year built
- 2024
- Lot size
- 0.93 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents the fee simple ownership of a newly constructed Freddy's Frozen Custard & Steakburgers restaurant in Flowood, Mississippi. The property boasts a brand-new 15-year absolute NNN lease with four 5-year renewal options, ensuring long-term, stable income. The lease includes a favorable 5% rent increase every five years, providing built-in protection against inflation and increasing net operating income (NOI). The 2,788 square foot building sits on a 0.93-acre lot and includes 45 parking spaces, strategically located on a high-traffic retail corridor with daily traffic exceeding 54,000 vehicles. The property is part of a larger 100+ acre mixed-use development, surrounded by major retailers such as Walmart, Target, Kroger, and Lowe's, and near several large shopping centers, including Dogwood Festival Market and Lakeland Commons. The strong demographics of the area, with over 57,500 residents and 29,500 daytime employees within a 5-mile radius, and an average household income exceeding $109,895, contribute to a robust and stable tenant base. The property's NOI is $201,617, resulting in a 6.35% cap rate. The building was constructed in 2024 and is zoned C-3: Commercial District. This is a truly exceptional, management-free investment opportunity with significant upside potential. The asking price is $3,175,000. The property's parcel number is H11 000029 00000.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Flowood
- County
- Rankin
- State
- Mississippi
- Longitude
- -90.0253
- Latitude
- 32.3543
