108 Pne Needle WayFlowood, MS 39232

Property Details for 108 Pne Needle Way

Year built

2022

Lot size

0.90 AC

Property size (Sq ft)

2,333 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a fee-simple, 2,333 square foot Popeyes restaurant in Flowood, Mississippi. Located on a high-traffic corridor (Lakeland Dr, 36,000 vehicles daily), this property boasts excellent visibility and access. The 20-year absolute NNN lease commenced November 2023 and features 10% rent increases every five years, providing significant income security through November 2043. The property sits on a 0.9-acre lot and was built in 2022. The current NOI is $216,000, representing a 5.75% cap rate on the $3,757,000 asking price. This location significantly outperformed average Popeyes sales in 2022, nearly 50% above the brand average and exceeding most competitors. The surrounding area is experiencing substantial growth, with new residential and retail developments complementing existing anchors like Walmart and Kroger. The affluent submarket boasts average household incomes exceeding $113,000 annually. This property is ideally suited for out-of-state investors, with convenient proximity to Jackson International Airport (6.5 miles). The lease includes four five-year renewal options. This is a rare opportunity to acquire a high-performing, net-leased QSR property in a thriving market.

Location Insight

City

Flowood

County

Rankin

State

Mississippi

Latitude

32.3553

Longitude

-90.0208

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