5100 Highway 61 S - Convenience Store FOR SALE


Vicksburg, MS 39180
$1,262,250 USD
248-419-3657
5100 Highway 61 S, Vicksburg, MS for Sale
$1,262,250 USD
Convenience Store - FOR SALE
1/5
null | 8% Cap Rate

5100 Highway 61 S
Vicksburg, MS 39180


HIGHLIGHTS

  • Double Net (NN) Lease | Minimal Landlord Responsibilities
  • 6 (5 Year) Options to Renew | 5% Rental Rate Increase at Each
  • Concrete Parking Lot | 4 Years 9 Months Remaining
  • Corner Location | Accessible From Both Streets
  • Three Mile Household Income $71,691
  • 14,764 Cars Per Day on Highway 61

OVERVIEW

Fortis Net Lease is pleased to present this 2020 BTS, 9,180 SF. freestanding Family Dollar store located in Vicksburg, Mississippi. The property is secured with a 10-year Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease has 6 (5 year) options to renew, each with a 5% 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 has been open and operating successfully with rent having commenced in March of 2020. This Family Dollar is highly visible as it is strategically positioned on the corner of Belva Drive and Highway 61 which sees 16,000 cars per day. The store is accessible from both streets. The ten mile population from the site is 31,835 while the three mile average household income is $71,691 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 $100,980.

FOR SALE DETAILS

PRICE

$1,262,250 USD

PRICE/SF

$138 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,454 SF

ZONING

MX-1

APN/PARCEL ID

130-29-1562-0003-04

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.