915 49 Frontage RdRichland, MS 39218

Property Details for 915 49 Frontage Rd

Year built

2008

Lot size

2.05 AC

Property size (Sq ft)

11,895 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a 11,895-square-foot CVS Pharmacy in Richland, Mississippi. Located at 915 U.S. 49 Frontage Rd, 39218, this single-tenant, absolute NNN leased property boasts a 9.00% cap rate and a substantial remaining lease term of 11 years, expiring January 31, 2035, with two 5-year renewal options. The property sits on a 2.05-acre lot and includes a drive-thru pharmacy, a significant advantage in a high-traffic area. The building, constructed in 2008, benefits from a corporate guarantee from a credit-worthy tenant (NYSE Standard & Poor’s BBB+), ensuring consistent income. With a strong NOI of $351,505 and a price per square foot of $328.34, this asset offers a secure and lucrative investment. The property's strategic location on Highway 49, a major thoroughfare with over 50,000 vehicles daily, places it near a Walmart Supercenter and numerous national retailers and hotels, including Whataburger, Hampton Inn, Kroger, Taco Bell, Walgreens, and Tractor Supply. The surrounding area also includes substantial residential communities, with over 11,847 people residing within a 3-mile radius, ensuring consistent customer traffic. This property is ideal for investors seeking a passive income stream with a long-term, low-risk investment backed by a highly reputable tenant. The asking price is $3,905,611.

Location Insight

City

Richland

County

Rankin

State

Mississippi

Latitude

32.222

Longitude

-90.1573

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