Regions Bank 331 W Main St
10,834 SF Retail Building Tupelo, MS 38804 $2,393,000 ($221/SF) 6.31% Cap Rate
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INVESTMENT HIGHLIGHTS
- Triple-Net Lease (5.5 Years Remaining) With Annual 3% Rental Increases
- Tenant Paying Low Rent of $13.93/PSF
- Signalized Hard Corner Location on West Main Street and South Green Street (15,962 VPD)
- Top Ranked Regions in the County By Deposits
- Central Business District of Historic Downtown Tupelo
- Near Cadence Arena and Conference Center
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the opportunity to acquire a triple net lease Regions Bank in Tupelo, MS. The property consists of a 10,834-square-foot, freestanding building that sits on approximately 0.53 acres of land. There are 5.5 years remaining on the lease with 3 percent rental increases annually.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
10,834 SF
Building Class
B
Year Built/Renovated
1985/2007
Price
$2,393,000
Price Per SF
$221
Cap Rate
6.31%
NOI
$150,907
Tenancy
Single
Building Height
1 Story
Building FAR
0.47
Lot Size
0.53 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
15 Spaces (1.38 Spaces per 1,000 SF Leased)
Frontage
216 FT on W Main
AMENITIES
- Banking
- Corner Lot
- Signage
- Signalized Intersection
- Drive Thru
- Monument Signage
NEARBY MAJOR RETAILERS
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PROPERTY TAXES
Parcel Number | 089P-31-010-00 | Improvements Assessment | $0 |
Land Assessment | $0 | Total Assessment | $269,274 |