128 Riverview DrFlowood, MS 39232

Property Details for 128 Riverview Dr

Year built

2004

Lot size

0.76 AC

Property size (Sq ft)

3,021 SF

Property type

Medical offices

Property subtype

Medical space

APN

E10J000001 00040

APU

E10J00000100040

Description

This exceptional investment opportunity presents a 2,972-square-foot medical office building in Flowood, Mississippi, currently 100% occupied by Affordable Dentures under a Net Net Net (NNN) lease. The property, built in 2003 and situated on a 0.76-acre lot, boasts 32 parking spaces and enjoys a prime location within a thriving medical/retail corridor experiencing 59,000 vehicles per day. The current lease, with a corporate guarantee, extends to November 30, 2030, providing a substantial remaining term of approximately six years. A significant 10% rent increase is scheduled for December 1, 2025, boosting the Net Operating Income (NOI) to $68,653.20. The asking price is $912,620, representing a compelling 7.25% cap rate and a price per square foot of $307.07. The property benefits from a strong demographic profile, including a 95,005-person population within a five-mile radius and an average household income exceeding $111,774 within one mile. This single-tenant, fee-simple ownership offers a secure and attractive investment prospect with a long-term, established tenant and built-in rent growth. The lease commenced July 28, 2003.

• CAP approach

  CAP return

  Valuation

  6%

  $506,392

  6.5%

  $467,439

  7%

  $434,051

• Comparable approach

  Method

  Valuation

  Relative Method

  $230,445

  Geo Method

  $589,276

• Alternative Use

  Use

  Valuation

  Residential

  $579,624

  Hospitality

  $530,933

  Educational

  $441,730

  Medical

  $456,922

  Retail

  $687,135

Location Insight

City

Flowood

County

Rankin

State

Mississippi

Latitude

32.3293

Longitude

-90.1282

CBSA code

27140

CBSA name

JACKSON, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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