3280 Medgar Evers Blvd Jackson, MS 39213-6842

Property Details for 3280 Medgar Evers Blvd

Year built

1971

Lot size

0.57 lot acres

Property size

1,104 SF

Property type

Turn key restaurants

APN

0409 0005 001

APU

4090005001

Description

This exceptional investment opportunity presents a fee-simple, absolute NNN lease for a Church's Chicken property in Jackson, Mississippi. Located at 3280 Medgar Evers Blvd, this 1,268 square foot restaurant sits on a 0.57-acre lot and boasts a strong 100% occupancy rate. The property, built in 1971, benefits from a corporate guarantee and a 15-year lease with four 5-year renewal options, ensuring long-term stability. Rent increases by 10% every five years, providing a hedge against inflation and substantial passive income growth. The asking price is $984,615, representing a compelling $776.51 per square foot and a 6.50% cap rate with a current NOI of $64,000. The property enjoys a prime location, less than a quarter-mile from Johnson Elementary School and near major transportation arteries, including a signalized intersection with three points of ingress and egress. Its proximity to Hawkins Field Airport, Jackson Municipal Airport, downtown Jackson, and Mississippi Veterans Memorial Stadium further enhances its appeal. This rare corporate sale-leaseback opportunity offers significant advantages, including no landlord responsibilities and above-average store performance. The Church's Chicken brand is experiencing robust growth, with plans for significant expansion in the coming years. This property represents a secure and profitable investment with excellent long-term potential.

Location Insight

City

Jackson

County

Hinds

State

Mississippi

Longitude

-90.2086

Latitude

32.3363

CBSA code

27140

CBSA name

JACKSON, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments