936 Us-82 Greenwood, MS 38930
- Retail properties
- 2,321 SF
- 0.90 lot acres
Current Use by Public Records
- Retail properties
Property Details for 936 Us-82
- Year built
- 2021
- Lot size
- 0.90 lot acres
- Property size
- 2,321 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple, absolute NNN leased Popeyes restaurant in Greenwood, Mississippi. The property boasts a new 20-year lease (commencing November 6, 2023, and expiring November 30, 2043), offering significant long-term income security. Located on a 0.9-acre lot at a signalized intersection of US-82 and W Park Ave, this 2,321 square foot building benefits from high visibility and accessibility, situated in a primary retail corridor with over 38,000 cars passing daily. The property's strong performance is evident in its over $2 million in net sales in 2022, exceeding the brand's system-wide average by approximately 10%. The lease includes 10% rent bumps every five years and at each option period (four 5-year options). The tenant, High Noon Restaurant Group, a reputable operator of 91 Popeyes locations, ensures a stable and reliable tenant. Built in 2021, this property offers a 6% cap rate and a net operating income (NOI) of $166,400, with an asking price of $2,773,000 ($1,194.74 per square foot). The property's prime location, coupled with the strong performance of the tenant and the favorable lease terms, makes this an attractive investment opportunity. Nearby retailers include Walmart, McDonald's, Wendy's, and other prominent brands. This property is available for sale as a standalone asset or as part of a larger portfolio.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Greenwood
- County
- Leflore
- State
- Mississippi
- Longitude
- -90.2053
- Latitude
- 33.5251
