Menu
t r a n s l a t e

Verizon Wireless Net Lease Investment | 7% Cap Rate

502 Brookway Boulevard
Brookhaven, MS 39601
PRICE : $624,000
CAP RATE: 7%
PROPERTY TYPE: Retail
SITE SIZE: 0.58 Acres
BUILDING SIZE: 4,080 SF
YEAR BUILT: 2002

Highlights

  • Attractive and well-located, former Blockbuster Video location with over 14,000 VPD
  • Strong guarantee with Cellular Sales, the second-largest Verizon retailer in the U.S.
  • The NN lease runs through November 2026 with two 5-year options each with a 5% rent increase
  • Landlord responsibilities limited to roof, structure and parking lot
  • Attractive “bite size” price AND low rent/SF of $10.80
  • Several large employers support the economic strength of the area including a Walmart Distribution Center
  • Nancy Miller, Bull Realty: MS License #S-49841

Description

This successful “bite size” Verizon Wireless store, located in Brookhaven, Mississippi, just off Interstate 55, is approximately 50 miles south of the state capital, Jackson. The corporate-guaranteed tenant, Cellular Sales, is one of the largest Verizon Wireless retailers in the U.S. with 770 stores in 41 states. The NN lease has been extended through November 2026 with two 5-year options, each having a 5% rent increase. Landlord responsibilities are limited to repair and maintenance of the roof, structure and parking lot. The Tenant fully reimburses the Landlord for real estate taxes and provides the insurance of the property.

The ±4,080 SF building sits on a ±0.58-acre corner site next to a Regal movie theater, which is in a neighborhood retail center, with frontage on Brookway Boulevard, one of the main thoroughfares in Brookhaven with nearby traffic counts of 14,000 VPD. Nearby prominent retailers include Walgreens, Dollar General and Piggy Wiggly. The population within a 5-mile radius is 17,700 with an average household income of $55,874.

Request more information