106 Stribling Drive, Brookhaven, MS 39601
$1,556,000
Property Type:
Commercial Sale
Baths:
2
Square Footage:
4,856
Lot Size (sq. ft.):
42,689
Status:
Active
Current Price:
$1,556,000
List Date:
1/24/2024
Last Modified:
1/24/2024
Description
This prime commercial real estate asset represents a unique investment opportunity with a compelling financial profile. The property, covering 4,856 square feet on a 1-acre site (Lot 3C), is fully occupied, ensuring immediate and consistent revenue. It boasts an average capitalization rate of 6% over the initial term, underpinned by a 7-year lease agreement with 5 and a half years remaining. The lease includes advantageous 2% annual rent escalations during both the base and option terms, enhancing cash flow potential and providing a hedge against inflation.
Strategically located for maximum visibility, the property features a 100 ft Interstate Pylon sign, making it prominently visible from Interstate 55. This high-profile positioning near major commercial entities like Home Depot, a Honda dealership, and Stribling Equipment significantly enhances its value proposition. Constructed in 2015, the asset offers contemporary facilities with minimal maintenance needs, making it an attractive proposition for investors seeking a balance of security and growth potential in the commercial real estate market.
More Information MLS# 4068823
Address and Location Information
Street Number: 106
Street Name: Stribling
Street Suffix: Drive
County: Lincoln
State: MS
Zip Code: 39601
Parcel Number: B77-14-2-021.07
Community Of: N/A
Listing Information
Status: Active
List Date: 2024-01-23
List Price: $1,556,000
Current Price: $1,556,000
Property Sub Type: Special Purpose
Listing Service: Full Service
New Construction: No
Never Occupied: No
Co-Op and Commission Information
Buyer Agency Compensation: 3
Buyer Agency Comp Type: %
General Property Information
Approx Lot Size Acres: 0.98
Approx H/C SqFt: 4856
SqFt Source: Owner
List Price/SqFt: 320.43
Divisible: No
Year Built: 2015
Year Built Source: Owner
Total Floors: 1
Bathrooms Total: 2
Bathrooms Full: 2
Fireplace: No
Accessibility Features: Yes
Tax and Financial Information
Tax Annual Amount: 21801
Tax Year: 2022
Flood Insurance Required?: No
Leasehold Y/N: No
16th Section: No
Sold In Previous 12 Months: No
Association: No
Legal Description: LOT 3C OF BROOKWAY COMMERICAL SUB N 1/2 SEC 14 T7 R7 B 1472 P 0796 01/05/2015
Remarks & Miscellaneous
Public Remarks: This prime commercial real estate asset represents a unique investment opportunity with a compelling financial profile. The property, covering 4,856 square feet on a 1-acre site (Lot 3C), is fully occupied, ensuring immediate and consistent revenue. It boasts an average capitalization rate of 6% over the initial term, underpinned by a 7-year lease agreement with 5 and a half years remaining. The lease includes advantageous 2% annual rent escalations during both the base and option terms, enhancing cash flow potential and providing a hedge against inflation.
Strategically located for maximum visibility, the property features a 100 ft Interstate Pylon sign, making it prominently visible from Interstate 55. This high-profile positioning near major commercial entities like Home Depot, a Honda dealership, and Stribling Equipment significantly enhances its value proposition. Constructed in 2015, the asset offers contemporary facilities with minimal maintenance needs, making it an attractive proposition for investors seeking a balance of security and growth potential in the commercial real estate market.
Auction
Auction: No
Showing Requirements
Showing: Appointment Required
Appointment Phone: 228-234-5663
Basement Features
Basement: No
Property Features
Business Type: General Business; Medical; Retail
Income & Expenses: See Remarks
Current Use: Commercial
Possible Use: See Remarks
Commercial Features: ADA Qualified; Delivery Door; Dumpster; Fire Alarm; Fire Sprinkler System; Fixtures; Inside Storage; Public Restroom(s); Security System; Smoke Detector(s); Telephone System
Structure Type: See Remarks
Lot Features: See Remarks
Location: Airport 3+ Miles; Freestanding; Interstate 1 Mile or Less; Paved; US Highway
Levels: One
Square Footage Description: Retail Bldg 2500-5000 SF
Expenses Include: See Remarks
Walls - Interior: Sheetrock
Lighting: Fluorescent; Incandescent; Security; See Remarks
Flooring: Concrete
Window Features: Tinted Windows
Cooling: Electric
Sale Options: Build-Outs
Price Includes: Building and Land
Available Documents: Brochure; Drawings; Leases; Legal Description; Rent Roll; See Remarks
Approx Age Code: Under 10 Years
Listing Office: The Real Estate Group
Listing Agent: Alex Thompson
Last Updated: January - 24 - 2024
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Information is deemed to be reliable but not guaranteed. Copyright 2022 MLS United, LLC.