6118 Us-98, Hattiesburg, MS 39402

Property Details for 6118 Us-98

Year built

2006

Lot size

0.48 lot acres

Property type

Retail properties & Spaces

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 3,707 square foot Express Oil Change & Tire Engineers storefront in Hattiesburg, Mississippi. Located at 6118 US-98, this single-tenant, absolute NNN lease boasts a remaining term of 20 years (with four 5-year options), commencing March 7, 2021, and expiring March 27, 2041. The property, built in 2006, sits on a 0.48-acre lot and includes 30 parking spaces. The asking price is $2,950,000, representing a 5.50% cap rate with a current NOI of $162,206. This prime retail location benefits from high visibility and strong surrounding demographics. Situated near the 845,104 square foot Turtle Creek Regional Mall and numerous national retailers including Target, Ross, TJ Maxx, Walmart Supercenter, Lowe's, Belk, and Hobby Lobby, this property enjoys exceptional access and high traffic counts. Its proximity to Merit Health Wesley Hospital, employing 1,500 people, and over 2,000 businesses within a 5-mile radius further enhances its investment potential. The property features cross-access to a signal and a large pylon sign, ensuring maximum brand visibility. This is a rare opportunity to acquire a long-term, stable investment with a nationally recognized brand in a thriving retail corridor. The property's strong tenant, Express Oil Change, is part of the Mavis Tire Express Services group, a significant player in the automotive maintenance industry. The property's location in Lamar County, Mississippi, zip code 39402, offers excellent access and visibility. The APN is 052R-10-037.001.

Location Insight

City

Hattiesburg

County

Lamar

State

Mississippi

Longitude

-89.3919

Latitude

31.3207