2000 County Line RdRidgeland, MS 39157

  • Grocery and convenience stores
  • 112 SF
For Sale
$5,232,677 View listing

Property Details for 2000 County Line Rd

Year built
2004
Lot size
0.67 AC
Property size (Sq ft)
112 SF
Property type
Grocery and convenience stores
APN
072I-32D-005/02
APU
072I32D00502

Description

Franklin Square, a 64,484-square-foot shopping center in Ridgeland, Mississippi, presents a compelling investment opportunity. This stabilized, 100% occupied property boasts a 9.00% cap rate and a strong net operating income (NOI) of $470,941. Anchored by a Crunch Fitness and a Sky Zone Trampoline Park, both operating under triple-net (NNN) leases, this multi-tenant retail center offers minimal landlord responsibilities. The property features a prominent location at the signalized hard corner of Old Canton Road and County Line Road, enjoying high visibility to over 36,000 vehicles daily. Built in 1982 and renovated in 2017, the center sits on a 5.81-acre lot zoned C-2A. Each tenant's lease has more than three years remaining, providing long-term stability. The asking price is $5,232,677, translating to $81.15 per square foot. The property benefits from its proximity to significant demand drivers, including the Country Club of Jackson, Northpark Mall, and major retailers such as Walmart, Lowe's, Target, Home Depot, At Home, and Chick-fil-A. This well-positioned retail center offers a secure and lucrative investment prospect.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $23,722
    6.5%
    $21,897
    7%
    $20,333
  • Comparable approach

    Method
    Valuation
    Relative Method
    $21,530
    Geo Method
    $55,054
  • Alternative Use

    Use
    Valuation
    Residential
    $18,471
    Hospitality
    $16,919
    Educational
    $14,077
    Medical
    $14,561
    Retail
    $21,897

Location Insight

City
Ridgeland
County
Madison
State
Mississippi
Latitude
32.3998
Longitude
-90.1095
CBSA code
27140
CBSA name
JACKSON, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$4,718
-
-
$43,778
-
$291,850
-
$291,850

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