9920 Ridgeway Industrial Dr Olive Branch, MS 38654

Property Details for 9920 Ridgeway Industrial Dr

Year built

2022

Lot size

5.21 lot acres

Property size

21,930 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 21,930-square-foot Tractor Supply Company store in Olive Branch, Mississippi. Located at 9920 Ridgeway Industrial Dr, 38654, this property boasts a prime location with excellent visibility and access, experiencing over 37,000 vehicles per day. The building, constructed in 2022, represents the latest prototype and design. A 15-year net lease (NNN) commenced December 22, 2022, and expires December 22, 2037, offering a substantial remaining lease term of 13.1 years. The lease includes four, 5-year options and features a 5% rent increase every five years. The tenant, Tractor Supply Company, is investment-grade credit rated 'BBB' by S&P, providing significant financial stability and security. The property includes 90 parking spaces and sits on a 5.21-acre lot. The asking price is $5,692,000, translating to $259.55 per square foot. This property benefits from its proximity to a major retail artery, a large and affluent customer base with an average household income of $91,505, and its location within the Memphis MSA, a thriving market with over 1.3 million residents. The area also includes significant employment centers, including a large Amazon fulfillment center and the University of Memphis. The property further benefits from a 15-year roof warranty and minimal landlord responsibilities. This is a rare opportunity to acquire a stabilized, high-performing retail investment with a strong tenant and long-term lease. The property is 100% occupied since its opening date of December 22, 2022. The substantial trade area includes 170,314 residents.

Location Insight

City

Olive Branch

County

Desoto

State

Mississippi

Longitude

-89.8143

Latitude

34.9698