203 Elizabeth St Tupelo, MS 38804
- Industrial properties
- 23,572 SF
- 2.16 lot acres
Current Use by Public Records
- Hughes Supply / Heating Equipment Supplier / Plumbing Supply Store
Property Details for 203 Elizabeth St
- Year built
- 1940
- Lot size
- 2.16 lot acres
- Property size
- 23,572 SF
- Property type
- Industrial properties
- Property subtype
- Distribution centers
Description
This fee-simple industrial property in Tupelo, Mississippi offers a compelling investment opportunity. The 23,572-square-foot distribution facility, situated on a 2.16-acre lot at 203 E Elizabeth St, is 100% occupied by Hajoca Corporation under a triple-net (NNN) lease. The lease, commencing January 1, 2023, and expiring December 31, 2032, provides a remaining term of 8.1 years. The current annual net operating income (NOI) is $80,340, representing a 6.31% capitalization rate based on the asking price of $1,273,077. The property features a price per square foot of $54.01. Built in 1940 and renovated in 1990, the property benefits from a corporate guarantee from Hajoca Corporation, a financially strong tenant with over 700 locations. The lease includes annual rental increases of 3% to protect against inflation, ensuring a stable and growing income stream for the investor. This is a truly passive investment with zero landlord responsibilities due to the NNN lease structure. The property is located in Lee County, Mississippi, zip code 38804.
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
- Tupelo
- County
- Lee
- State
- Mississippi
- Longitude
- -88.7047
- Latitude
- 34.2488
