Investment For Sale-Fully Leased 8% Return
Retail-Commercial
for Sale
Catylist Listing ID: |
30721372 |
Property Subtypes: |
Restaurant
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Building Size (RSF): |
2,682 SF
|
Gross Building Area: |
See Agent |
Gross Land Area: |
19,166 SF
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Sale Price: |
$400,000 |
Unit Price: |
$149.14 PSF |
Property Use Type: |
Investment |
Sale Terms: |
Cash to Seller |
Cap Rate: |
Undisclosed |
Last Updated: |
4/16/2021 |
Overview / Comments
Petal restaurant fully leased with income $3,500 monthly in 2021, and $4,000 monthly until lease expiration 3/31/2025. Landlord pays property taxes of $7,000 annually and hazard insurance $3,000 annually. Net Operating Income in 2021 is $32,000. You are buying the building and lease income only, not the business.
See Comprehensive Marketing Presentation for details, including ESRI map of fast food spending by block group in Hattiesburg & Petal. Previously Dickies BBQ restaurant located near Petal High School, building is 2,682 SF on 19,166 SF land with drive thru.
Leased to restaurant with drive thru in an area with a high propensity for spending on fast food: within a 10 minute drive time, 39% visited fast food over 9 times/month with a fast food market size of $13,000,000 spent on food away from home. Within a 3 minute drive time, average household spent $3,054 last year on food away from home.
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Additional Details
Nearest MSA: |
Hattiesburg |
County: |
Forrest |
Tax ID/APN: |
3-020N-33-044.04 |
Demographic Statistics
Proximity: |
3 miles |
5 miles |
Total Population: |
10,635 |
22,827 |
Median Age: |
36.67 |
35.1 |
Households: |
3,909 |
8,245 |
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