1305 Ellis AveJackson, MS 39204

Property Details for 1305 Ellis Ave

Year built

1985

Lot size

0.62 AC

Property size (Sq ft)

13,440 SF

Property type

Retail properties

Property subtype

Retail space

APN

0301 0010 001

APU

3010010001

Description

This exceptional investment opportunity presents a single-tenant, 12,940-square-foot convenience store in Jackson, Mississippi. The property, located at 1305 Ellis Ave, Jackson, MS 39204, boasts a strong corporate guarantee from Dollar Tree, a nationally recognized brand, under a Net Net lease structure, minimizing landlord responsibilities. The lease commenced on July 30, 2013, and has a remaining term of approximately 0.2 years, with two five-year renewal options, each including a 10% rent increase. The property sits on a 0.62-acre lot and features a single, one-story building constructed in 1985, currently operating at 80% occupancy. The asking price is $1,311,913, representing a price per square foot of $101.38 and a compelling 6.90% capitalization rate based on a Net Operating Income (NOI) of $90,522. The property benefits from a high-traffic location, experiencing over 23,000 vehicles per day and serving a densely populated area with over 102,000 residents within a 5-mile radius. The property is zoned for commercial use. This is an ideal investment for those seeking a stable, high-return retail asset with a strong tenant and minimal management requirements.

• CAP approach

  CAP return

  Valuation

  6%

  $3,215,498

  6.5%

  $2,968,152

  7%

  $2,756,141

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,583,542

  Geo Method

  $6,606,448

• Alternative Use

  Use

  Valuation

  Residential

  $2,503,748

  Hospitality

  $2,293,419

  Educational

  $1,908,098

  Medical

  $1,973,720

  Retail

  $2,968,152

Location Insight

City

Jackson

County

Hinds

State

Mississippi

Latitude

32.2955

Longitude

-90.2284

CBSA code

27140

CBSA name

JACKSON, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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