137 Pineview Dr Flowood, MS 39232

Property Details for 137 Pineview Dr

Year built

2023

Lot size

1.16 lot acres

Property size

510 SF

Property type

Retail space

Property subtype

Storefront properties

Description

Exceptional investment opportunity: a 20-year net lease on a 7 Brew Coffee drive-thru in Flowood, Mississippi. This 510 square foot building, constructed in 2023, sits on a sizable 1.16-acre lot at 137 E Pineview Dr, 39232, within a rapidly expanding mixed-use development. The property boasts a 6.50% cap rate and a substantial $125,000 annual net operating income (NOI). The lease, commencing August 1, 2023, and expiring August 1, 2043, includes four 5-year renewal options and features a 10% rent increase every five years, ensuring consistent income growth. The tenant, 7 Brew, is backed by a corporate guarantee, mitigating risk. The location is prime, situated on Lakeland Drive, a major east-west corridor with over 38,000 vehicles per day, providing excellent visibility and accessibility. This affluent area, just five miles from Jackson, MS, has an average household income exceeding $115,000 within a 5-mile radius. The property benefits from its inclusion in a larger 100+ acre development, further enhancing its long-term value and potential. The unique 7 Brew business model, focused solely on drive-thru service, generates over $2.4 million in annual revenue. This is a rare opportunity to acquire a high-performing asset in one of Mississippi's fastest-growing areas. The asking price is $1,923,000, representing a price per square foot of $3,770.59.