220 Frontage Rd Meridian, MS 39301-6141
- Turn key restaurants
- 4,950 SF
- 1.20 lot acres
Dec 08, 2020
Current Use by Public Records
- IHOP / American Restaurant / Breakfast Restaurant
- TenderFix by Noah Schnapp / Chicken Restaurant / Fast Food Restaurant
Property Details for 220 Frontage Rd
- Year built
- 2015
- Lot size
- 1.20 lot acres
- Property size
- 4,950 SF
- 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.
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
- Meridian
- County
- Lauderdale
- State
- Mississippi
- Longitude
- -88.6763
- Latitude
- 32.3646
- CBSA code
- 32940
- CBSA name
- MERIDIAN, MS MICROPOLITAN STATISTICAL AREA
