Investment For Sale-Fully Leased 7% Return
|Catylist Listing ID:
|Building Size (RSF):
|Gross Building Area:
|Gross Land Area:
|Property Use Type:
||Cash to Seller
Overview / Comments
Retail investment with current 7.0% annual return. 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.
Petal restaurant fully leased with income $3,200 monthly until lease expiration 3/31/2025. Landlord pays property taxes of $7,000 annually and hazard insurance $3,000 annually. Current gross income of $38,400 less $10,000 taxes and insurance brings net operating income of $28,400. The building and lease income are for sale, but the business is excluded.
Attachments & Media
© Copyright 2001-2020 Catylist. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither Louisiana Commercial Database, LLC nor
Catylist Real Estate Software, Inc. assume any liability for errors or omissions.