Current Use by Public Records
- Warehouses
Property Details for 818 Merita Dr
- Year built
- 2013
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional 5,000-square-foot Class A industrial warehouse, built in 2013, is situated at 818 Merita Dr, Tupelo, MS 38801, in a prime location off Gloster Street. The property boasts a 100% occupancy rate with a strong, established net lease tenant, ensuring a steady income stream. The building features 20-foot ceilings, two roll-up doors, approximately 500 square feet of heated and cooled office space, and two restrooms. The warehouse itself is heated, and the back wall is insulated and drywalled for enhanced efficiency and climate control. The property is zoned for commercial mixed use and offers a Net Operating Income (NOI) of $28,620, resulting in an attractive 8.95% cap rate. The asking price is $319,900, translating to $63.98 per square foot. This is a single-tenant, NNN lease investment opportunity with significant potential for long-term growth and return. The property's APN is 113A-06-036-00. All utilities are paid by the tenant. This well-maintained property presents a compelling investment opportunity in a thriving Mississippi market.
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
- Tupelo
- County
- Lee
- State
- Mississippi
- Longitude
- -88.7181
- Latitude
- 34.2472
