For Sale
$2,500,000

1580 Us-72Corinth, MS 38834

Mississippi QSR, 6.38% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
117
This fee-simple ownership opportunity presents a 2,500 square foot Starbucks in Corinth, Mississippi. The property, built in 2022, boasts a 12.9-year remaining lease term with six 5-year options, ensuring long-term income. The lease is a triple-net (NN) agreement with a corporate guarantee (S&P: BBB+), minimizing landlord responsibilities to roof, structure, and parking lot. Rental increases are built-in, with 10% increases every five years and 8% at the start of each option period, providing inflation protection. The property sits on a 1.42-acre lot with 42 parking spaces and enjoys excellent visibility and access due to its strategic location on US Highway 72 (24,000 vehicles per day), a major retail thoroughfare. The site benefits from a dense retail corridor with numerous national tenants, strong demographics (average household income of $66,752 within a 5-mile radius), and a drive-thru. The property's Net Operating Income (NOI) is $159,376, yielding a 6.38% cap rate at an asking price of $2,500,000 ($1,000 per square foot). The permitted zoning is General Commercial. This investment offers a compelling combination of strong tenant, location, and lease terms.

Highlights

  • $2,500,000 asking price for a Starbucks property in Corinth, MS.
  • Fee simple ownership of a 2,500 SF, newly constructed (2022) building on a 1.42-acre lot with 42 parking spaces.
  • 12.9 years remaining on a 15-year Net Net (NN) lease with a corporate guarantee (S&P: BBB+), featuring 10% rent increases every 5 years and 8% increases at the start of each option period.
  • 6 five-year lease options; 100% occupancy; $159,376 NOI; 6.38% cap rate; $1,000/SF price.
  • Strategically located on US Hwy 72 (24,000 VPD) in a dense retail corridor with strong national tenants, including Walmart, Aldi, and Walgreens.

Property Details for 1580 Us-72

Property type
Retail properties, Restaurants
Square Feet
2,500 SF
Year Built
2022
Lot Size (sq. ft)
61,855 SF

Location Insight

City
Corinth
County
Alcorn
State
Mississippi
Latitude
34.9166148
Longitude
-88.5070383
1580 Us-72, Corinth, Mississippi

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1580 Us-72
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