1863 Main St Madison, MS 39110-6382
- Turn key restaurants
- 2,660 SF
- 0.90 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 1863 Main St
- Year built
- 2003
- Lot size
- 0.90 lot acres
- Property size
- 2,660 SF
- Property type
- Turn key restaurants
- APN
- 072C-07A-003/01
- APU
- 072C07A00301
Description
This exceptional investment opportunity presents a fee-simple interest in a brand-new, 2,810 square-foot Whataburger restaurant in Madison, Mississippi. Located at the prime intersection of Main Street and Grandview Boulevard, this single-tenant, absolute NNN lease boasts a corporate guarantee and a remaining lease term of 14.4 years, expiring March 31, 2039. The lease features three, five-year options with a 7% rent increase at each option. The property sits on a 0.90-acre lot (39,292 sq ft) within a thriving retail corridor, shadow-anchored by Walmart and surrounded by other national retailers. The property benefits from high visibility and excellent access, with over 55,000 vehicles passing daily. Madison, MS is a high-growth area, recognized as one of Mississippi's safest and most successful cities, boasting a high median household income ($127,603) and average household income ($167,020) within a three-mile radius. The property's strong performance is reflected in its current 100% occupancy and a Net Operating Income (NOI) of $210,000, yielding a 5.00% cap rate. The asking price is $4,200,000. The building was renovated in 2024. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a prime location.
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
- Madison
- County
- Madison
- State
- Mississippi
- Longitude
- -90.1312
- Latitude
- 32.4683
- CBSA code
- 27140
- CBSA name
- JACKSON, MS METROPOLITAN STATISTICAL AREA
