220 Frontage RdMeridian, MS 39301

Property Details for 220 Frontage Rd

Year built

2015

Lot size

1.20 AC

Property size (Sq ft)

4,950 SF

Property type

Turn key restaurants

APN

84171000000002402

APU

84171000000002402

Description

This exceptional investment opportunity presents a 4,950-square-foot IHOP restaurant located at 220 N Frontage Rd, Meridian, MS 39301. The property boasts a strong 7.15% cap rate and a substantial net operating income (NOI) of $129,000. The absolute NNN lease with IHOP, a subsidiary of DineEquity, INC., has approximately 11 years remaining, ensuring a passive income stream with zero landlord responsibilities. Situated directly off Highway 20, a major thoroughfare with approximately 42,000 vehicles daily, this location offers unparalleled visibility and accessibility. The property benefits from its strategic placement in a high-traffic area, across from the Uptown Meridian Mall and adjacent to national retailers such as Walmart, Lowe's, Aldi, and Sam's Club. Furthermore, its proximity to over 15 hotels within a one-mile radius guarantees a consistent flow of customers. Built in 2015, this 100% occupied property represents a secure and lucrative investment in a thriving retail corridor. The asking price is $1,804,195. This is a rare opportunity to acquire a well-established, high-performing retail asset with a long-term lease and significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,219,717

  6.5%

  $1,125,892

  7%

  $1,045,471

• Comparable approach

  Method

  Valuation

  Relative Method

  $928,501

  Geo Method

  $2,433,178

• Alternative Use

  Use

  Valuation

  Residential

  $949,732

  Hospitality

  $869,950

  Educational

  $723,788

  Medical

  $748,680

  Retail

  $1,125,892

Location Insight

City

Meridian

County

Lauderdale

State

Mississippi

Latitude

32.3646

Longitude

-88.6763

CBSA code

32940

CBSA name

MERIDIAN, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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