267 Perkins StRidgeland, MS 39157

Property Details for 267 Perkins St

Property size (Sq ft)

17,947 SF

Property type

Residential income properties

Property subtype

NNN properties

Description

This exceptional investment opportunity presents two fully leased industrial flex buildings totaling 17,947 square feet, situated on approximately 1.2 acres in Ridgeland, Mississippi's thriving industrial park, conveniently located off Highway 51, south of West Jackson Street. The property boasts a strong 100% occupancy rate with a local credit tenant under a modified lease agreement with 5.3 years remaining on a 10-year term (commencing March 1, 2020, and expiring February 28, 2030). The two buildings, comprising 6,426 and 11,521 square feet respectively, are custom-designed to meet the tenant's specific needs and have been occupied by the tenant for over 17 years. The property is zoned I-1 Industrial and features a pro-forma cap rate of 5.49% and a pro-forma NOI of $107,097. The asking price is $1,950,000, translating to $108.65 per square foot and $975,000 per unit. Detailed financial information is available upon request. This presents a compelling investment opportunity with significant potential for long-term value appreciation, given the tenant's long-standing history and the remaining lease term. The property's location within a well-established industrial park further enhances its appeal. The address is 267 S Perkins St, Ridgeland, MS 39157. Parcel number is 071G-25A-029/00.00.

Location Insight

City

Ridgeland

County

Madison

State

Mississippi

Latitude

32.4251

Longitude

-90.1407

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