504 Us-90Waveland, MS 39576

Property Details for 504 Us-90

Year built

2023

Lot size

2.65 AC

Property size (Sq ft)

4,080 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a brand-new, 4,080-square-foot retail building in Waveland, Mississippi. Completed in 2023, the property boasts a 100% occupancy rate with two prominent tenants: T-Mobile and Tropical Smoothie Cafe. Both tenants are operating under 10-year net leases, including two 5-year options, minimizing landlord responsibilities and offering significant long-term stability. The property features a 7.00% cap rate and a strong net operating income (NOI) of $138,720. Situated on a 2.65-acre lot, the single-story building enjoys a highly visible location on US-90, a major retail thoroughfare with 27,004 vehicles per day. This prime location benefits from a signalized intersection and proximity to a Walmart Supercenter, as well as other national retailers including Lowe's, Walgreens, Dollar Tree, Planet Fitness, Harbor Freight Tools, McDonald's, and Arby's. The property's location within a densely populated area with a strong average household income further enhances its investment appeal. The leases include 10% rental escalations every five years, providing a hedge against inflation. This is a rare opportunity to acquire a stabilized, multi-tenant retail property with exceptional long-term growth potential. The property is offered at an asking price of $1,980,000.

Location Insight

City

Waveland

County

Hancock

State

Mississippi

Latitude

30.303

Longitude

-89.387

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