128 Riverview DrFlowood, MS 39232

For Sale
$912,620

Mississippi medical office building, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional investment opportunity presents a 2,972-square-foot medical office building in Flowood, Mississippi, currently 100% occupied by Affordable Dentures under a Net Net Net (NNN) lease. The property, built in 2003 and situated on a 0.76-acre lot, boasts 32 parking spaces and enjoys a prime location within a thriving medical/retail corridor experiencing 59,000 vehicles per day. The current lease, with a corporate guarantee, extends to November 30, 2030, providing a substantial remaining term of approximately six years. A significant 10% rent increase is scheduled for December 1, 2025, boosting the Net Operating Income (NOI) to $68,653.20. The asking price is $912,620, representing a compelling 7.25% cap rate and a price per square foot of $307.07. The property benefits from a strong demographic profile, including a 95,005-person population within a five-mile radius and an average household income exceeding $111,774 within one mile. This single-tenant, fee-simple ownership offers a secure and attractive investment prospect with a long-term, established tenant and built-in rent growth. The lease commenced July 28, 2003.

Highlights

  • Net lease medical office investment opportunity in Flowood, MS, with a newly executed lease extension through November 30, 2030.
  • A 10% rent increase is scheduled for December 1, 2025, boosting NOI to $68,653.20.
  • Strong demographics, with a 5-mile population of 95,005 and an average household income of $111,774 within one mile.
  • Excellent location in a high-traffic medical/retail corridor experiencing 59,000 vehicles per day.
  • The 2,972 square foot building is 100% occupied by Affordable Dentures, a national tenant with a corporate guarantee.

Property Details for 128 Riverview Dr

Property type
Other office properties, Medical offices
Square Feet
2,972 SF
Year Built
2003
Lot Size (sq. ft)
33,106 SF

Location Insight

City
Flowood
County
Rankin
State
Mississippi
Latitude
32.3220478
Longitude
-90.102718
128 Riverview Dr, Flowood, Mississippi

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128 Riverview Dr
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