Fred’s Super Dollar Leasehold Improvements Sale, Terry, MS 8.85% Cap Rate

Property Description

Marketing Package

Single tenant build to suit investment offering for Fred’s Super Dollar retail store concept with tenant Fred’s Stores of Tennessee, Inc. The investment offers a 12 year initial lease term with three 5 year options to renew at a 5% rental increase each renewal period. The lease has approximately 9 years remaining.

The structure is a 16,799 square foot building constructed out of split block and metal siding. The land is ground leased and is not transferring in this offering. Purchaser would buy building improvements, enter into an assumption of lease with Fred’s Stores of Tennessee, Inc., and ground lease the land from the third party land owner. Fred’s Inc. is the parent company, which is publicly traded, that owns the tenant Fred’s Stores of Tennessee, Inc. Fred’s Inc. is not the tenant nor a guarantor of the lease. The trade name is Fred’s Super Dollar and Pharmacy.

  • 8.85% Cap Rate
  • Landlord Responsibilities:
  • Maintenance of exterior grounds, exterior of demised premises, roof and structure
  • HVAC repairs over $3,750 per year
  • Tenant Responsibilities:
  • Property Taxes, Property Insurance, Utilities, CAM reimbursement fee
  • HVAC repair (up to $3,750 per year)

This newly constructed location is strategically located 1/4 mile off of I-55 in Terry, Mississippi. The site also faces the backside of Terry High School, which is the 16th largest school in the state holding over 1,275 students.

 

General Info

Category: For Sale

Type: Retail

Price: $1,802,972

Address: 424 West Cunningham Avenue, Terry, MS 39170

Listing Page: Click to View Loopnet Listing Page

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