2603 Denny AvePascagoula, MS 39567

Property Details for 2603 Denny Ave

Year built

1985

Lot size

0.57 AC

Property size (Sq ft)

2,366 SF

Property type

Turn key restaurants

APN

41702981.000

APU

41702981000

Description

This exceptional investment opportunity presents a 2,290-square-foot Krystal restaurant in Pascagoula, Mississippi. Located on Denny Avenue (Highway 90), a major retail corridor with over 27,090 vehicles daily, this property benefits from high visibility and accessibility. The single-tenant, 100% occupied building features a drive-thru and sits on a 0.77-acre lot. Built in 1985 and renovated in 2016, the property is under a 15-year NNN lease with Krystal, commencing June 1, 2017, and expiring May 31, 2032. Approximately 7.5 years remain on the primary lease term, with six 5-year renewal options. The lease includes 5% rent increases every 5 years, the next occurring in June 2027. This absolute NNN lease structure ensures zero landlord responsibilities for operating or capital expenses. The property's strategic location near Singing River Hospital (a major employer), Walmart, Lowe's, and other prominent retailers, further enhances its value. The area boasts a strong economic base, anchored by Chevron's largest U.S. refinery and the Port of Pascagoula. The asking price is $967,755, representing a 7.00% cap rate and a price per square foot of $422.60. This presents a compelling investment opportunity with a long-term, stable tenant and significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $551,550

  6.5%

  $509,123

  7%

  $472,757

• Comparable approach

  Method

  Valuation

  Relative Method

  $454,811

  Geo Method

  $423,861

• Alternative Use

  Use

  Valuation

  Residential

  $429,464

  Hospitality

  $393,387

  Educational

  $327,293

  Medical

  $338,549

  Retail

  $509,123

Location Insight

City

Pascagoula

County

Jackson

State

Mississippi

Latitude

30.3728

Longitude

-88.5367

CBSA code

25060

CBSA name

GULFPORT-BILOXI, MS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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