Current Use by Public Records
- Retail properties & Spaces
Property Details for 700 Ms-7
- Year built
- 2016
- Lot size
- 0.92 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a single-tenant, 8,320-square-foot Family Dollar convenience store located at 700 MS-7, Greenwood, Mississippi, 38930. The property sits on a 0.92-acre lot and boasts a strong 100% occupancy rate under a triple-net (NNN) lease, minimizing landlord responsibilities. Built in 2016, the one-story building is zoned CM and features a 15-year lease commencing October 1, 2015, and expiring September 30, 2030, with a remaining term of approximately 5.9 years. The lease includes six five-year renewal options, with rent bumps of 10% in years 11-15 and in each option period. The asking price is $1,711,000, translating to a price per square foot of $205.65 and a compelling 6.67% capitalization rate based on a net operating income (NOI) of $114,120. The tenant, Family Dollar, is backed by a corporate guarantee, providing significant financial security. This investment benefits from the relocation of a high-volume existing store nearby, indicating strong market demand and potential for continued success. The property offers a secure, passive income stream with built-in growth potential through the lease's built-in rent increases. This is a rare opportunity to acquire a well-performing retail asset in a stable market.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Greenwood
- County
- Leflore
- State
- Mississippi
- Longitude
- -90.1513
- Latitude
- 33.5179
