220 Frontage Rd, Meridian, MS 39301-6141

Property Details for 220 Frontage Rd

Year built

2015

Lot size

1.20 lot acres

Property type

Turn key restaurants

APN

84171000000002402

APU

84171000000002402

Description

This exceptional investment opportunity presents a 4,950-square-foot IHOP restaurant located at 220 N Frontage Rd, Meridian, MS 39301. The property boasts a strong 7.15% cap rate and a substantial net operating income (NOI) of $129,000. The absolute NNN lease with IHOP, a subsidiary of DineEquity, INC., has approximately 11 years remaining, ensuring a passive income stream with zero landlord responsibilities. Situated directly off Highway 20, a major thoroughfare with approximately 42,000 vehicles daily, this location offers unparalleled visibility and accessibility. The property benefits from its strategic placement in a high-traffic area, across from the Uptown Meridian Mall and adjacent to national retailers such as Walmart, Lowe's, Aldi, and Sam's Club. Furthermore, its proximity to over 15 hotels within a one-mile radius guarantees a consistent flow of customers. Built in 2015, this 100% occupied property represents a secure and lucrative investment in a thriving retail corridor. The asking price is $1,804,195. This is a rare opportunity to acquire a well-established, high-performing retail asset with a long-term lease and significant upside potential.

Location Insight

City

Meridian

County

Lauderdale

State

Mississippi

Longitude

-88.6763

Latitude

32.3646

CBSA code

32940

CBSA name

MERIDIAN, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments