For Sale
$1,030,000

602 Division StBiloxi, MS 39530

Biloxi, MS Retail Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 7,980 square foot Family Dollar storefront in Biloxi, Mississippi. The property boasts a strong 7.75% cap rate and a substantial net operating income (NOI) of $79,800. Situated on a 0.55-acre lot at 602 Division St, this location benefits from its proximity to I-110 (57,000 vehicles daily) and Keesler Air Force Base (28,000+ students annually). Family Dollar, a BBB- rated tenant with a corporate guarantee, recently signed a 7-year lease extension commencing January 1, 2025, with three 5-year renewal options. The property has a 30+ year operating history and enjoys a 100% occupancy rate. The location is strategically positioned less than 1.3 miles from the Beau Rivage Resort & Casino and serves a desirable demographic with average household incomes exceeding $52,700 within a 1-mile radius and $69,100 within a 3-mile radius. This is the only dollar store east of Kessler Air Force Base, offering limited competition and strong walk-in traffic from surrounding neighborhoods. The asking price is $1,030,000, translating to $129.07 per square foot. This is a rare opportunity to acquire a stable, high-performing retail investment with a long-term, creditworthy tenant. The building was constructed in 1989.

Highlights

  • $1,030,000 asking price for a 7,980 SF Family Dollar storefront on a 0.55-acre lot in Biloxi, MS.
  • Investment-grade credit tenant (BBB- S&P rating) with a corporate guarantee.
  • Net lease (NN) with a 7.1-year remaining lease term (commencing 01/01/2025, expiring 12/31/2031) and three 5-year renewal options.
  • 100% occupancy, generating $79,800 NOI and a 7.75% cap rate; $129.07/SF.
  • Located less than one mile from I-110 and approximately two miles from Keesler Air Force Base.

Property Details for 602 Division St

Property type
Retail properties, Retail space
Square Feet
7,980 SF
Year Built
1989
Lot Size (sq. ft)
23,958 SF

Location Insight

City
Biloxi
County
Harrison
State
Mississippi
Latitude
30.40316946
Longitude
-88.88201191
602 Division St, Biloxi, Mississippi

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602 Division St
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