267 Perkins St Ridgeland, MS 39157
- Residential income properties
- 17,947 SF
Current Use by Public Records
- Certifiable Studios / Corporate Office
Property Details for 267 Perkins St
- Property size
- 17,947 SF
- Property type
- Residential income properties
- Property subtype
- NNN properties
Description
This exceptional investment opportunity presents two fully leased industrial flex buildings totaling 17,947 square feet, situated on approximately 1.2 acres in Ridgeland, Mississippi's thriving industrial park, conveniently located off Highway 51, south of West Jackson Street. The property boasts a strong 100% occupancy rate with a local credit tenant under a modified lease agreement with 5.3 years remaining on a 10-year term (commencing March 1, 2020, and expiring February 28, 2030). The two buildings, comprising 6,426 and 11,521 square feet respectively, are custom-designed to meet the tenant's specific needs and have been occupied by the tenant for over 17 years. The property is zoned I-1 Industrial and features a pro-forma cap rate of 5.49% and a pro-forma NOI of $107,097. The asking price is $1,950,000, translating to $108.65 per square foot and $975,000 per unit. Detailed financial information is available upon request. This presents a compelling investment opportunity with significant potential for long-term value appreciation, given the tenant's long-standing history and the remaining lease term. The property's location within a well-established industrial park further enhances its appeal. The address is 267 S Perkins St, Ridgeland, MS 39157. Parcel number is 071G-25A-029/00.00.
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
- Ridgeland
- County
- Madison
- State
- Mississippi
- Longitude
- -90.1407
- Latitude
- 32.4251
