1599 Us 49Magee, MS 39111

Property Details for 1599 Us 49

Year built

2010

Lot size

1.30 AC

Property size (Sq ft)

2,443 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a fee-simple, 2,443 square foot Popeyes restaurant located at 1599 US 49 in Magee, Mississippi (zip code 39111). The property sits on a 1.3-acre lot and boasts a new 20-year Absolute NNN lease commencing November 6, 2023, and expiring November 30, 2043, with four 5-year renewal options. The lease includes a 10% rent increase every five years and at each option period. The property features excellent visibility and accessibility from US Highway 49, a primary retail corridor. Nearby competitors include McDonald's, Wendy's, Subway, Taco Bell, Burger King, and O'Reilly Auto Parts, along with a Walmart. The tenant, High Noon Restaurant Group, operates 91 Popeyes locations across Louisiana and Mississippi. This specific location generated over $2.4 million in net sales in 2022, exceeding the Popeyes system-wide average by 31%. Placer.Ai data ranks this location in the 87th percentile of all Popeyes locations for daily visits. The asking price is $3,386,000, representing a 5.85% cap rate and a price per square foot of $1,386. The property's Net Operating Income (NOI) is $198,063. Built in 2010, this property offers a secure, long-term investment with significant upside potential. The property is available separately or as part of a portfolio.

Location Insight

City

Magee

County

Simpson

State

Mississippi

Latitude

31.8685

Longitude

-89.7435

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