Dark Burger w/Strong Guarantor and Five Years Remaining
780 Lake Harbour Drive, Ridgeland, MS, USA Map
Listing Price $1,381,522
| Status | Active |
| Lease Type | Absolute Net |
| Property Type | Retail |
| CAP Rate | 9% |
| GLA (Sq. Ft.) | 2,877 |
| NOI | $124,337 |
| Lease Term Remaining | 5 Years |
| Increases | 2% Annually |
| Options | 4 x 5 Years |
| State (BOR) | Mississippi |
| Broker of Record | Mickey Davis |
| License # (BOR) | B-15586 |
Investment Highlights
- Robust Traffic Counts on Lake Harbour (22k VPD) and Old Canton
(21k VPD) and Less than Three Miles from I-55 (102k VPD) (Source:
CoStar, 2022) - Well Established Lake Harbour Retail Corridor at the Entrance to
Barnett Reservoir | Nearby National Retailers Include: Kroger, Planet
Fitness, Walgreens, Applebee’s, Buffalo Wild Wings, Wendy’s, Arby’s,
Waffle House, Valero, Shell, and Others - Thriving Lake Community with an Average Household Income of Over
$66K within Five Miles of the Subject Asset, as of 2023 - Parks and Outdoor Recreational Facilities Nearby Include: Jackson
Yacht Club, Country Club of Jackson, Bay Point Country Club,
Pelahatchie Shore, Simmons Arboretum, Mississippi Museum of
Natural Science, Mississippi Civil Rights Museum, and More - Subject is 11 Miles from Downtown Jackson, the Capital of
Mississippi, with a Population of 143,709 (2023)
Investment Overview
Subject is a Prime 2,877 Square-Foot Dark Burger King on a 0.83-Acre Lot with Ample Parking, Pylon Signage, and Easy Ingress/Egress The Lease is Guaranteed by GPS Hospitality, a 450+ Unit Franchisee of Burger King, Popeyes, and Pizza Hut. It has Over 5 Years Remaining With 2% Annual Increases Throughout the Term.
