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22339796
22339797

220 MS-12, Starkville, MS 39759

SS
IL 471.010712
Marcus & Millichap SWM Group
AW
IL 475.140200
Marcus & Millichap SWM Group
BS
IL 475204677
Marcus & Millichap SWM Group
Listed by Marcus & Millichap SWM Group
$3,225,000
441 days on market
Updated 38 days ago
Opportunity zone

Walgreens | Starkville, MS

Details
APN 102G-00-004.00 | 102B-00-292.00
Property Type Retail
Sub Type Convenience Store, Pharmacy/Drug
Square Footage 14,490
Net Rentable (SqFt) 14,490
Units 1
Cap Rate 8%
NOI $258,000
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type NNN
Lease Term 30
Lease Expiration 04/29/2032
Remaining Term 5.9
Rent Bumps No
Lease Options 10, 5-Year
Price per SqFt $223
Broker Co-Op Yes
Year Built 2002
Buildings 1
Stories 1
Acreage 0.790
Parking Spaces 66 spaces
Parking Per SqFt 4.55
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/24/2002
Occupancy Date 04/24/2002
Ground Lease No
Ownership Fee Simple

ABSOLUTE NNN LEASE | LONG OPERATING HISTORY | LOCATED AT A SIGNALIZED HARD-CORNER INTERSECTION

Marketing description

This NNN Walgreens lease has seven years of term remaining with 10, five-year renewal options, ensuring a stable long-term investment. Walgreens has operated at this location since 2002, with the lease corporately guaranteed by Walgreens Co. The store is the top-ranked Walgreens within a 15-mile radius based on visit volume. Strategically situated at a high-traffic intersection, the property benefits from excellent visibility and its proximity to Mississippi State University, local schools, and popular retail hubs like Starkville Crossing, which is the top ranked shopping center within a 15-mile radius. The area has experienced over 8.76 percent population growth from 2010-2020, supporting a strong and growing daytime population.

Investment highlights

  • Absolute Triple-Net (NNN) Lease with a Corporate Guarantee and Seven Years of Term Remaining.

  • One Mile from Mississippi State University Campus which Serves 23,150 Students.

  • Long Operating History | Walgreens has been Operating at this Location Since 2002 Showing Commitment to the Site.

  • Very Limited Competition in the Trade Area.

  • Top-Ranked Walgreens Location by Visits Within a 15-Mile Radius (per placer.ai).

  • Located at a Signalized Hard-Corner Intersection of Mississippi 12 and Louisville St with 34,400 VPD (vehicles per day).

Listing Contacts

SS
IL 471.010712
Marcus & Millichap SWM Group
AW
IL 475.140200
Marcus & Millichap SWM Group
BS
IL 475204677
Marcus & Millichap SWM Group
Listed by Marcus & Millichap SWM Group

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$258,000.00
$21,500.00/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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Additional Information

Name
Mickey Davis
License
MS 15586
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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