310 S 16th Avenue S Laurel, MS 39440

Other Residence

Beds

2 Baths

4,856 Sq. Ft.

0.5 Acre Lot

Property Activity

Time on Site

days

Days on Market

Views

Saves

Last updated on 9/24/2024 10:04 PM

Listing Details

We are pleased to present this exceptional investment opportunity in a highly sought-after location. This property is currently fully occupied by a single-use tenant, offering stability and reliability for investors. The lease, with a term of 7 years and 5 and a half years remaining, showcases an av...erage capitalization rate (cap rate) of 6% over the initial term. Additionally, the lease features 2% annual rent escalations throughout both the base and option terms. This structure not only ensures increased overall cash flows but also provides a substantial safeguard against inflation, enhancing the long-term value of your investment. The property .83 acres, boasts 50 parking spaces and a prominent monument sign, adding to its visibility and accessibility. Located within clear sight of I55, which sees traffic counts exceeding 75,000 vehicles per day (VPD), and 16th Ave with 31,000 VPD, the site benefits from high exposure and easy access. Significantly, the property is strategically positioned near major employment hubs and development projects, amplifying its value. Sanderson Farms, just .6 miles away, employs approximately 2,000 staff in their headquarters and production facilities. Masonite Industries, located 1.8 miles from the site, has around 600 employees. Moreover, the South Central Medical Center, only .33 miles away, is undergoing a massive $35M expansion, signaling growing economic activity in the area. The location is further bolstered by the presence of 7 hotels, encompassing 400 rooms, all within a quarter-mile radius. This concentration of hospitality options speaks to the area's appeal to both business and leisure visitors, potentially increasing customer footfall to the site. This commercial real estate listing represents not just a purchase, but an investment in a dynamic and growing area, promising substantial returns and stability. Contact us to discover more about how this property can be a valuable addition to your portfolio. Continue reading

MLS#

4068824

Property Type

Other

Bathrooms

Year Built

2015

Square Feet

4,856 sq. ft

Lot Size

0.5

Stories