Current Use by Public Records
- Retail properties & Spaces
Property Details for 7378 Ms-489
- Year built
- 2024
- Property type
- Retail properties & Spaces
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a newly constructed (2024) Dollar General store in Conehatta, Mississippi, situated at 7378 MS-489, zip code 39057. The property boasts a 13.2-year remaining lease term (expiring January 31, 2038) on a 15-year Absolute NNN lease, eliminating all landlord responsibilities. The lease commenced January 25, 2023, and includes five, five-year renewal options with a 10% rent increase at each option. The property benefits from a strong 7.25% cap rate and a substantial net operating income (NOI) of $110,604. The building was completely rebuilt in 2024 following a fire. The tenant, Dollar General, is a credit-rated, investment-grade corporation (BBB rating by S&P) with approximately 19,600 locations nationwide and a history of consistent growth. The property serves a population exceeding 13,294 residents within a 10-mile radius, ensuring a stable and reliable tenant base. This is a turnkey investment with minimal management requirements, offering significant long-term returns in a resilient retail sector. The property is 100% occupied and represents a secure, passive income stream. This is a rare opportunity to acquire a high-performing, triple-net leased property anchored by a nationally recognized and financially stable tenant. The asking price is $1,525,566.
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
- Conehatta
- County
- Newton
- State
- Mississippi
- Longitude
- -89.2829
- Latitude
- 32.4363
