1028 Beacon St Philadelphia, MS 39350
- Retail properties
- 1,847 SF
- 0.54 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1028 Beacon St
- Year built
- 2004
- Lot size
- 0.54 lot acres
- Property size
- 1,847 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple ownership of a Huddle House restaurant in Philadelphia, Mississippi. The property boasts a 1,847-square-foot building situated on a 0.54-acre lot at 1028 W Beacon St, 39350. Built in 2004, this single-tenant property operates under a 20-year triple-net (NNN) lease, eliminating all landlord responsibilities. The current annual net operating income (NOI) stands at $76,925, representing a compelling 6.75% capitalization rate on the $1,139,630 asking price, or $617.02 per square foot. The lease includes a corporate guarantee from a multi-unit operator with 275+ units, mitigating risk. Annual rent increases of 1.50% are built into the lease, extending through the initial 20-year term and into four, five-year renewal option periods. The property enjoys 100% occupancy, providing immediate and consistent cash flow. This is a rare opportunity to acquire a stable, long-term, passive income-generating asset in a strong market. The property's location in Neshoba County offers excellent visibility and accessibility. This investment is ideal for those seeking a low-maintenance, high-return commercial real estate asset with significant long-term growth potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Neshoba
- State
- Mississippi
- Longitude
- -89.1324
- Latitude
- 32.7682
