Property Details for 1820 Hwy 72nd E

Year built

2001

Construction

FRAME

Lot size

0.78 lot acres

Property size

1,986 SF

Property type

Turn key restaurants

APN

0904182 D 00108

APU

0904182D00108

Description

This exceptional investment opportunity presents a 2,237 square foot, single-tenant, absolute NNN leased Krystal restaurant located at 1820 Highway 72 E, Corinth, MS 38834. The property sits on a 0.78-acre lot with 41 parking spaces and benefits from excellent visibility and access on Highway 72, boasting approximately 44,750 vehicles per day. The building, constructed in 2007, is classified as Class B and enjoys 100% occupancy. The current lease, commencing April 22, 2013, and expiring December 31, 2033, provides a remaining term of approximately 9.1 years. The lease includes annual rent bumps of 1% in the options. The tenant, Krystal, is credit rated and offers a corporate guarantee, minimizing landlord risk. The property generates a strong net operating income (NOI) of $88,000, resulting in a 7.00% cap rate. The asking price is $1,257,000. This location is in a prime retail corridor, within walking distance of numerous national retailers including Walmart, Lowe's, Belk, and many others, and approximately 1.5 miles from Corinth High School and Fulton Crossing Shopping Center. This is a rare opportunity to acquire a well-performing, low-maintenance investment property with a strong tenant and significant remaining lease term. The property's location in a high-traffic area ensures consistent revenue generation and long-term value appreciation. The corporate guarantee and absolute NNN lease structure further enhance the investment's security and attractiveness.

Location Insight

City

Corinth

County

Alcorn

State

Mississippi

Longitude

-88.5034

Latitude

34.9146

CBSA code

18420

CBSA name

CORINTH, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments