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31458783
31458784

1863 Main St, Madison, MS 39110

RR
OH 2015004880
Northmarq Capital, LLC
Listed by Northmarq Capital, LLC
$3,818,000
62 days on market
Updated 62 days ago

Whataburger

Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,810
Net Rentable (SqFt) 2,810
Cap Rate 5.5%
NOI $210,000
Occupancy 100%
Tenancy Single
Brand/Tenant Whataburger
Lease Type Absolute NNN
Lease Term 15.1
Lease Expiration 03/31/2039
Remaining Term 12.8
Rent Bumps Yes
Lease Options 7% at each option
Price per SqFt $1,359
Year Renovated 2024
Buildings 1
Stories 1
Acreage 0.900
Zoning C-2 General Commercial
Parking Spaces 25 spaces
Parking Per SqFt 8.90
Investment Type Net Lease
Lease Commencement 03/12/2024
Occupancy Date 12/01/2024
Ground Lease No
Ownership Fee Simple

Whataburger in Best Location of State's Most Desirable Market | Hard Corner Off I-55 Exit

Marketing description

Recently redeveloped Whataburger located at 1863 Main Street, Madison, MS 39110. The Property is on the hard corner of the main intersection of the primary commercial corridor in Madison, arguably one of the best commercial sites in the state. It includes a 2,810-square-foot building with double drive-thru lanes on a 0.90-acre parcel of land, out-positioning the adjacent high-volume Chick-fil-A that is "one-off" the corner.

Investment highlights

2024 Redevelopment & Covered Double Drive-Thru with Digital Menu Boards

Absolute NNN Lease

  • 13 years remaining and three, five-year options with 7% rent increases
  • Zero landlord responsibilities

City of Madison – Growing & Highly Recognized

  • Ranked #1 in several categories including income, safety and lifestyle
  • Madison County: New Amazon data center campuses - $10B investment and at least 1,000 jobs (largest capital investment in state's history)
  • Madison County: $500 million transformation of Nissan North America to start producing electric vehicles

Front Row to Area's Main Retail Corridor

  • Located at the signalized entrance to Madison’s primary commercial retail corridor, including national retailers like Walmart, Lowe’s, Best Buy, Shoe Dept., Dick’s Sporting Goods, Chick-fil-A, Chili’s, Applebee’s, Longhorn, Zaxby’s and Raising Cane’s

Ease of Accessibility

  • The Property sits at the signalized, hard corner of Main Street and Grandview Blvd (61,760 combined VPD), 1,000' from I-55 exit
  • Shares access with Lowe's (795.4K annual visitors)

Great Location in Jackson, MS (Largest MSA in State)

  • Walmart Shadow property
  • <15-min drive from Nissan North America (±5,000 employees) & Amazon Data Center (±1,000 employees)
  • 10-min drive to Barnett Reservoir (2.5 million annual visitors) and Natchez Trace Parkway (7.9 million annual visitors)

See OM or call/text Ryan at 513.504.4046 for additional highlights & details.

Listing Contacts

RR
OH 2015004880
Northmarq Capital, LLC
Listed by Northmarq Capital, LLC

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$210,000.00
$17,500.00/mo

Valuation Metrics

0
DSCR
5.5%
Cap Rate
5.5%
ROI

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Additional Information

Name
Jason Long
License
MS Lic. #20952
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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