602 Division St - Freestanding FOR SALE


Biloxi, MS 39530
$967,272 USD
215-603-6914
602 Division St, Biloxi, MS for Sale
$967,272 USD
Freestanding - FOR SALE
1/5
null | 8.25% Cap Rate

602 Division St
Biloxi, MS 39530


HIGHLIGHTS

  • Family Dollar is an investment grade tenant with a BBB- rating from Standard & Poor’s.
  • Located less than a mile from I-110, with 57,000 vehicles passing daily.
  • Family Dollar signed a 7-year lease extension starting January 2025, with three 5-year renewal options.
  • Family Dollar has been at this location since 1989, with over 30 years of operating history.
  • This is the only dollar store east of Kessler Air Force Base, in a walkable neighborhood location.
  • Located 1.3 miles from the Beau Rivage Resort & Casino and 2 miles from Keesler Air Force Base.

OVERVIEW

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this 7,980 square foot Family Dollar property located on a 0.55 acre parcel on Division Street in Biloxi, Mississippi. The tenant has been at this location since 1989 and recently extended its lease for an additional 7 years showing its success at and commitment to this site. The lease extension added three, five year options to renew with 10% rental increases in 2028 and each option period. The lease is corporately guaranteed by Family Dollar’s parent company, Dollar Tree, Inc., an investment grade credit tenant, rated BBB- by Standard & Poor’s. The property has excellent frontage situated at the intersection of Division Street and Nichols Drive (6,000 VPD). The property is ideally located less than 1 mile from I-110 which sees 57,000 vehicles per day. This is a densely populated area with over 19,900 people within 3 miles and over 61,150 people within 5 miles of the property. This is an ideal demographic area for a dollar store tenant with average household incomes ranging from $52,700 in the 1-mile radius and $69,100 in the 3-mile radius. Biloxi, MS is a vibrant city located on the Gulf Coast of Mississippi. It’s known for its strong economy, greatly supported by the Keesler Air Force Base and the Beau Rivage Resort and Casino. Keesler Air Force Base is located approximately 2 miles from the subject property and serves as a major employer, contributing to local businesses and infrastructure. Similarly, the Beau Rivage Resort and Casino is located just over 1 mile from Family Dollar and attracts tourists from around the world, stimulating the hospitality and entertainment sectors, thereby playing a significant role in boosting the city’s economy.

FOR SALE DETAILS

PRICE

$967,272 USD

PRICE/SF

$105 USD /SF

CAP RATE

8.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

23,958 SF

ZONING

-

APN/PARCEL ID

1410G-05-047.001

ASK ABOUT THIS PROPERTY

Matthew GormanCBRE, Inc.More Info
215-603-6914

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Matthew GormanCBRE, Inc.More Info
215-603-6914

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