151 Commerce St Hernando, MS 38632

Property Details for 151 Commerce St

Year built

2024

Property size

2,016 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a 2,016 square foot Dunkin' located at 151 E Commerce St, Hernando, MS 38632. Built in 2024, this single-tenant, net lease property boasts a 15-year lease term commencing March 24, 2024, and expiring March 31, 2039, with three 5-year option periods. The property generates a strong NOI of $96,000, resulting in a 5.35% cap rate and an asking price of $1,795,000. Scheduled 10% rent bumps are included in the initial term and option periods, ensuring a passive, long-term income stream. The property enjoys a high-visibility location on East Commerce Street, benefiting from daily traffic exceeding 25,000 vehicles. Its strategic placement adjacent to a Kroger-anchored shopping center maximizes crossover buyer activity. The surrounding area features numerous national brand tenants, including Walmart, Walgreens, and others, further enhancing its appeal. The property's proximity to Interstate 55 and East Commerce Drive provides access to an additional 33,200 vehicles daily. With a population of 25,508 residents within a five-mile radius and projected growth in population and income, this Dunkin' represents a compelling investment in a thriving Mississippi market. The property is suitable for a 1031 exchange.