5016 Raymond Ave Tupelo, MS 38801-8671
- Turn key restaurants
- 3,564 SF
- 1.15 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 5016 Raymond Ave
- Year built
- 1986
- Construction
- STEEL FRAME
- Lot size
- 1.15 lot acres
- Property size
- 3,564 SF
- Property type
- Turn key restaurants
- APN
- 114N-19-137-01
- APU
- 114N1913701
Description
This exceptional investment opportunity presents a 3,564 square foot Hardee's restaurant located at 5016 Raymond Ave, Tupelo, MS 38801, in Lee County. The property sits on a 1.15-acre lot and boasts a strong 6.50% cap rate, generating a net operating income (NOI) of $27,321. Built in 1985 and currently operating at 100% occupancy, this single-tenant, net-lease (NNN) property offers significant advantages. The tenant, part of the large Carl Karcher Enterprises (CKE) restaurant group, benefits from a long operating history at this location, further enhanced by recent remodeling. The lease includes two, five-year options, providing long-term stability. Importantly, the rent paid by Hardee's is significantly below the national average for comparable locations, offering a compelling value proposition. The lease also incorporates a percentage rent clause, ensuring NOI growth alongside increased tenant sales. This absolute NNN lease structure shifts all expenses to the tenant, providing a truly passive income stream for the investor. The asking price for this well-established, high-performing property is $420,323. This is a rare opportunity to acquire a low-risk, high-return investment in a proven, national brand.
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
- Tupelo
- County
- Lee
- State
- Mississippi
- Longitude
- -88.7194
- Latitude
- 34.1946
- CBSA code
- 46180
- CBSA name
- TUPELO, MS MICROPOLITAN STATISTICAL AREA
