1403 Simpson Highway 540 - Retail FOR SALE


Mendenhall, MS 39114
$1,258,286 USD
248-254-3406
1403 Simpson Highway 540, Mendenhall, MS for Sale
$1,258,286 USD
Retail - FOR SALE
1/6
null | 7.35% Cap Rate

1403 Simpson Highway 540
Mendenhall, MS 39114


HIGHLIGHTS

  • 15 Year Absolute NNN Lease
  • Zero Landlord Responsibilities
  • 4 (5 Year) Options | 10% Increases At Each Option
  • 10 Mile Population 17,965
  • 1,713 Vehicles Per Day
  • Investment Grade Dollar Store With "BBB" Credit Rating

OVERVIEW

Fortis Net Lease is pleased to present this 9,237 SF Dollar General store located in Mendenhall, MS. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease has remaining 4 (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has been open & operating successfully since November 2020. This Dollar General is highly visible as it is strategically positioned at the intersection of MS-540 and Blackwell Road which sees 1,713 vehicles per day. The ten mile population from the site is 17,965 while the ten mile average household income $67,878 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store.

FOR SALE DETAILS

PRICE

$1,258,286 USD

PRICE/SF

$135 USD /SF

CAP RATE

7.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

8.65 AC

LAND SF

377,002 SF

ZONING

C-1

APN/PARCEL ID

11170350000000000413

ASK ABOUT THIS PROPERTY

Robert BenderFortis Net LeaseMore Info
248-254-3406

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Robert BenderFortis Net LeaseMore Info
248-254-3406

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