Investment For Sale-Fully Leased 8% Return
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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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