304 Mason St - Freestanding FOR SALE


Laurel, MS 39440- Downtown Laurel
$1,276,000 USD
248-419-3657
304 Mason St, Laurel, MS for Sale
$1,276,000 USD
Freestanding - FOR SALE
1/6
null | 8% Cap Rate

304 Mason St
Laurel, MS 39440
Downtown Laurel


HIGHLIGHTS

  • Absolute NNN Lease | Zero Landlord Responsibilities
  • Signalized Hard Corner Location | Accessible From Both Streets
  • Five Mile Population 28,873
  • 4 (5 Year) Options to Renew | 10% Rental Increases at Each Option
  • 8,994 Cars Per Day on Sawmill Road
  • Across the Street From 350,000 SF Sawmill Square Mall

OVERVIEW

Fortis Net Lease is pleased to present this 7,250 SF. freestanding Family Dollar store located in Laurel, Mississippi. The property is encumbered with an Absolute NNN Lease, leaving zero landlord responsibilities. There are 4 years 7 Months remaining on the primary term. The lease contains 4 (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar Tree Stores, Inc. which holds a credit rating of “BBB-”, which is classi?ed as Investment Grade. The store is currently open with rent having commenced in February 2015. This Family Dollar is highly visible as it is strategically positioned on the signalized corner of Sawmill Road (which sees 8,994 cars per day) and Mason Street (which sees 6,799 cars per day). The site can conveniently be accessed from both streets. The ?ve mile population from the site is 28,873 while the one mile average household income is$57,921 per year, making this location ideal for a Family Dollar. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Family Dollar. This investment will offer a new owner continued success due to the ?nancial strength and the proven pro?tability of the tenant, one of the nation’s top dollar stores. List price re?ects a 8.00% cap rate based on NOI of $102,080.

FOR SALE DETAILS

PRICE

$1,276,000 USD

PRICE/SF

$176 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.15 AC

LAND SF

50,094 SF

ZONING

-

APN/PARCEL ID

119Z-06-12-003.00

ASK ABOUT THIS PROPERTY

Andrew BenderFortis Net LeaseMore Info
248-419-3657

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Andrew BenderFortis Net LeaseMore Info
248-419-3657

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.