Texaco – Richland, MS

$2,569,662
Price
$167,028
Noi
6.50%
Cap Rate
3,036
Leasable Area
2005
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 3,036 SF Texaco Gas Station & Convenience Store located in Richland, Mississippi, in an opportunity zone just outside of Jackson (the state’s capital). This 20 year NNN Lease will require zero landlord responsibilities and is corporately guaranteed. The lease offers 10% rental rate increases, every 5 years, at each of the 2 (10 Year) Options. There is a sublease in place for the convenience store operation through 4/30/2025 paying $4,000 per month. The store has been operating successfully since July of 2005 leaving 4.25 years remaining on the primary term.

This Texaco Gas Station & Convenience Store benefits from being in the Jackson, MS market and has excellent visibility as it is located on the signalized corner of Cleary Road and US 49 which sees 42,313 cars per day, and is accessible from both roads. US Highway 49 is a four-lane north-south thoroughfare that carries an average of 45,000 cars per day by the site and intersects with Interstate 20 in Jackson 5 miles to the north. This site is across the street from a Tractor Supply Company store and there are many notable retailers in the area including Wal Mart, Walgreens, Family Dollar, CVS, McDonald’s, KFC, Popeye’s Chicken & Biscuits, Firestone and Nationwide Insurance. The five mile population from the site is 37,924. The three mile household income is $66,196. This area is also seeing a steady increase in population growth. This investment will offer a new owner continued success due to the strength and proven profitability of the tenant. List price reflects a 6.50% cap rate based on NOI of $167,028.

INVESTMENT HIGHLIGHTS
• 20 Year NNN Lease with 4.25 Years Remaining on Primary Term
• Jackson, Mississippi Market | Opportunity Zone!
• Signalized Corner Location | Accessible from Both Roads
• Two (10 Year) Options Each with a 10% Rent Increase Every 5 Years
• 5 Mile Population 37,924
• 3 Mile Average Household Income $66,196
• 42,313 Cars Per day on US Highway 49
• Surrounded by National Retailers (Tractor Supply Co, Walmart,
• Family Dollar, and More)
• Steady Growth in Population
• Sublease with Convenience Store Operator Through 4/30/2025 for $4,000/month

Instate Broker of Record: Brian Brockman | Bang Realty, Inc.