Investment For Sale-Fully Leased 8% Return

Retail-Commercial for Sale
Catylist Listing ID: 30721372
Property Subtypes: Restaurant
Building Size (RSF): 2,682 SF
Gross Building Area: See Agent
Gross Land Area: 19,166 SF
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.​

Additional Details

Nearest MSA: Hattiesburg
County: Forrest
Tax ID/APN: 3-020N-33-044.04

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 10,635 22,827
Median Age: 36.67 35.1
Households: 3,909 8,245

Contact

Photograph of Listing Agent

Robert L Hand

Louisiana Commercial Realty, LLC Metairie, LA 70002
LACDB Member
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