1403 Ms-540Mendenhall, MS 39114

For Sale
$1,258,286

Mississippi Retail Property, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fee-simple ownership of a 9,237 square-foot Dollar General store in Mendenhall, Mississippi. Located at 1403 MS-540, this single-story building, constructed in 2020, sits on a 1.55-acre lot and boasts a 100% occupancy rate. The property is secured by an absolute NNN lease with a corporate guarantee from Dollar General, offering zero landlord responsibilities. The current lease, commencing November 11, 2020, and expiring November 30, 2035, has a remaining term of 11 years, with four five-year renewal options, each including a 10% rent increase. The current annual net operating income (NOI) is $92,484, representing a 7.35% cap rate and a price per square foot of $136.22. The asking price is $1,258,286. This strategically positioned property benefits from high visibility at a major intersection, experiencing 1,713 vehicles per day. The surrounding area demonstrates strong demographics, with a 10-mile population of 17,965 and an average household income of $67,878. Dollar General's investment-grade credit rating ("BBB") further enhances the security and stability of this investment, making it ideal for a 1031 exchange or passive investor seeking a low-maintenance, high-return property. The property is suitable for a 1031 exchange.

Highlights

  • $1,258,286 asking price for a 9,237 SF Dollar General in Mendenhall, MS.
  • Absolute NNN lease with 11 years remaining, plus four 5-year options with 10% rent increases.
  • Corporate guarantee from Dollar General (BBB credit rating).
  • 7.35% cap rate and $92,484 annual NOI.
  • 1.55-acre lot, built in 2020, 100% occupancy.
  • Strong demographics: 17,965 population and $67,878 average household income within a 10-mile radius.

Property Details for 1403 Ms-540

Property type
Lifestyle centers, Power centers
Square Feet
9,237 SF
Year Built
2020
Buildings
1
Stories
1
Lot Size (sq. ft)
67,518 SF
Units
1

Location Insight

City
Mendenhall
County
Simpson
State
Mississippi
Latitude
31.9731683
Longitude
-89.754194
1403 Ms-540, Mendenhall, Mississippi

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1403 Ms-540
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