5351 Highway DrJackson, MS 39211

Property Details for 5351 Highway Dr

Lot size

0.53 AC

Property size (Sq ft)

2,611 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This fee-simple retail investment opportunity presents a 2,611 square foot Popeyes restaurant located at 5351 N Hwy 55, Jackson, MS 39211. The property sits on a 0.53-acre lot and benefits from a high-traffic location at the intersection of N. Highway 55 and Canton Mart Road, experiencing 102,540 and 24,830 vehicles per day, respectively. The strong demographics boast over 278,670 people within a ten-mile radius. This single-tenant, net-leased property features a 20-year lease with 15.1 years remaining, commencing December 19, 2019, and expiring December 30, 2039. The current annual net operating income (NOI) is $86,200, with a 6.15% cap rate and a price per square foot of $536.82. The lease includes 1% annual escalations beginning in 2029, and six five-year renewal options. The tenant is Popeyes, operating under a franchise agreement with New CFH, LLC, a former large franchisee acquired by Carrols Restaurant Group, a subsidiary of Restaurant Brands International (the corporate owner of Popeyes). This provides significant corporate backing and stability for the investment. The asking price for this exceptional opportunity is $1,401,626. The property is 100% occupied.

Location Insight

City

Jackson

County

Hinds

State

Mississippi

Latitude

32.3719

Longitude

-90.1494

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