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22505468

401 Cross Park Dr, Pearl, MS 39208

SM
MS MS B22633
OVERBY
Listed by OVERBY
$155,000
461 days on market
Updated 7 days ago

Cross Park Condominium

Details
Property Type Office, Retail
Sub Type Storefront, Traditional Office
Square Footage 1,020
Units 1
Cap Rate 8.66%
NOI $13,417
Occupancy 100%
Tenancy Single
Lease Type Modified
Lease Term 5
Lease Expiration 05/31/2029
Remaining Term 2.9
Rent Bumps Yes
Lease Options 3
Pro-Forma Cap Rate 9.36%
Pro-Forma NOI $14,513
Price per SqFt $152
Broker Co-Op Yes
Class B
Year Built 1988
Year Renovated 2021
Parking Spaces 45 per 1,000 sq ft
Investment Type Stabilized
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 06/01/2024
Ground Lease No

Condo investment with national credit tenant in place with 3% annual rent increases

Marketing description

Extremely well located retail/office condo in the Pearl/Brandon area. This property is conveniently located on highway 80 within close proximity of I-20 amongst a large variety of retail and professional users.

This highly visible investment property features two large offices, a smaller third office, a break room, and a private restroom. The space is currently leased to an international credit industrial staffing company with over 600 locations in multiple countries. The space is well suited for most professional users or it could be easily modified for a retail or medical user. Front door parking and signage is available at this location.

Investment highlights

  • Extremely well located

  • Growing location

  • Highly visibility

  • Front door parking

  • Signage available

  • Rare opportunity

Listing Contacts

SM
MS MS B22633
OVERBY
Listed by OVERBY

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$13,416.59
$1,118.05/mo

Valuation Metrics

0
DSCR
8.66%
Cap Rate
8.66%
ROI

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Additional Information

Name
Sterling McCool
License
MS B22633
Brokerage Phone
6013668511
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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