2365 Ms-15 Woodland, MS 39776
- Retail properties
- 9,100 SF
- 1.38 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2365 Ms-15
- Year built
- 2017
- Lot size
- 1.38 lot acres
- Property size
- 9,100 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a fee-simple Dollar General store located at 2365 MS-15, Woodland, MS 39776. The 9,100 square foot property sits on a 1.38-acre lot and was built in 2017. It's currently under an absolute NNN lease with Dollar General Corporation, a credit-rated tenant with a corporate guarantee, offering zero landlord responsibilities. The lease expires April 30, 2032, with five five-year renewal options, each including a 10% rent increase. The current annual net operating income (NOI) is $74,395, resulting in a 7.80% cap rate at the asking price of $953,792. The property benefits from its location near Tupelo, MS, with its diverse economy and major employers like Cooper Tire & Rubber Company and Toyota Motor Manufacturing. There is no competition within over nine miles. This is a passive income investment with significant long-term potential, ideal for 1031 exchange purposes. The property offers a strong tenant, long lease term, and built-in rent growth.
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
- Woodland
- County
- Chickasaw
- State
- Mississippi
- Longitude
- -89.0445
- Latitude
- 33.7709
