2603 Denny Ave Pascagoula, MS 39567-2414
- Turn key restaurants
- 2,366 SF
- 0.57 lot acres
Nov 26, 2024
Current Use by Public Records
- Krystal / Dessert Restaurant / Fast Food Restaurant
Property Details for 2603 Denny Ave
- Year built
- 1985
- Lot size
- 0.57 lot acres
- Property size
- 2,366 SF
- Property type
- Turn key restaurants
- APN
- 41702981.000
- APU
- 41702981000
Description
This exceptional investment opportunity presents a 2,290-square-foot Krystal restaurant in Pascagoula, Mississippi. Located on Denny Avenue (Highway 90), a major retail corridor with over 27,090 vehicles daily, this property benefits from high visibility and accessibility. The single-tenant, 100% occupied building features a drive-thru and sits on a 0.77-acre lot. Built in 1985 and renovated in 2016, the property is under a 15-year NNN lease with Krystal, commencing June 1, 2017, and expiring May 31, 2032. Approximately 7.5 years remain on the primary lease term, with six 5-year renewal options. The lease includes 5% rent increases every 5 years, the next occurring in June 2027. This absolute NNN lease structure ensures zero landlord responsibilities for operating or capital expenses. The property's strategic location near Singing River Hospital (a major employer), Walmart, Lowe's, and other prominent retailers, further enhances its value. The area boasts a strong economic base, anchored by Chevron's largest U.S. refinery and the Port of Pascagoula. The asking price is $967,755, representing a 7.00% cap rate and a price per square foot of $422.60. This presents a compelling investment opportunity with a long-term, stable tenant 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
- Pascagoula
- County
- Jackson
- State
- Mississippi
- Longitude
- -88.5367
- Latitude
- 30.3728
- CBSA code
- 25060
- CBSA name
- GULFPORT-BILOXI, MS METROPOLITAN STATISTICAL AREA
