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2501 Bienville Blvd - Keg & Barrel Abs. NNN 10-year lease
6,500 SF Retail Condo Unit Offered at $1,875,000 in Ocean Springs, MS 39564
Investment Highlights
- Tenant will execute a brand new 10-year sale-leaseback at close of escrow
- The lease features a 10% rental increases every five years.
- Lease includes a strong personal guarantee
Property Facts
| Price | $1,875,000 | Sale Type | Investment |
| Unit Size | 6,500 SF | Building Class | B |
| No. Units | 1 | Floors | 4 |
| Total Building Size | 179,257 SF | Typical Floor Size | 44,814 SF |
| Property Type | Multifamily (Condo) | Year Built | 2020 |
| Property Subtype | Apartment | Sale Conditions | 1031 Exchange |
| Price | $1,875,000 |
| Unit Size | 6,500 SF |
| No. Units | 1 |
| Total Building Size | 179,257 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Sale Type | Investment |
| Building Class | B |
| Floors | 4 |
| Typical Floor Size | 44,814 SF |
| Year Built | 2020 |
| Sale Conditions | 1031 Exchange |
1 Unit Available
Unit Retail
| Unit Size | 6,500 SF | Sale Type | Investment |
| Price | $1,875,000 | Cap Rate | 8.00% |
| Price Per SF | $288.46 | NOI | $150,000 |
| Condo Use | Retail | Sale Conditions | 1031 Exchange |
| Unit Size | 6,500 SF |
| Price | $1,875,000 |
| Price Per SF | $288.46 |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 8.00% |
| NOI | $150,000 |
| Sale Conditions | 1031 Exchange |
Sale Notes
New 10-Year Sale-Leaseback | Strong Personal Guarantee | Options to Extend | Rental Increases | New Construction
- Tenant will execute a brand new 10-year sale-leaseback at close of escrow with 2 (5-year) options to extend, demonstrating their long-term commitment to the site
- The lease includes a strong personal guarantee
- The lease features a 10% rental increases every five years and at the beginning of each option period, steadily growing NOI and hedging against inflation
- The site was newly constructed in 2021
Absolute NNN Lease | Retail Condo Ownership | No Landlord Responsibilities
- Tenant pays for CAM, taxes, and insurance
- No landlord responsibilities
- Ideal, management-free investment for a passive investor
Popular Local Operator | Excellent Reviews | Ocean Springs Hospital
- Keg and Barrel currently has 3 separate locations in Mississippi, all of which are very popular and highly regarded by the local community
- Since its opening in 2020, this location has received excellent reviews, averaging 4.8 stars on Facebook and 4.5 stars on Yelp
- Keg and Barrel is located less than 2 miles from Ocean Springs Hospital (Singing River Health Systems), a 160-bed facility
Main Retail Thoroughfare | Direct Consumer Base | Nearby National/Credit Tenants
- Keg and Barrel is located on Bienville Blvd (42,000 VPD), the main retail thoroughfare of Ocean Springs
- Nearby national/credit tenants include CVS Pharmacy, Winn-Dixie, Ace Hardware, Planet Fitness, and more
- Keg and Barrel is located in a new condominium development, The Inlet (95 units), providing a direct, walkable consumer base from which to draw
- 100% of the condominiums at The Inlet were sold shortly after completion
5-Mile Trade Area Demographics | Affluent Household Income
- The 5-mile trade area is supported by over 46,500 residents and 18,000 employees
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 40 | - | 722 |
| 2+2 | 40 | - | 1,018 |
| 3+2 | 19 | - | 1,318 |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Disposal
- Microwave
- Ceiling Fans
- Tile Floors
- Kitchen
- Ice Maker
- Refrigerator
- Oven
- Range
- Grill
- Quartz Countertops
Site Amenities
- Clubhouse
- Pool
- Maintenance on site
Presented by
2501 Bienville Blvd - Keg & Barrel Abs. NNN 10-year lease
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