Cap Rate: 6.55%
Net Operating Income: $95,127
Lot Size: 1.85 AC
Year Built: 2014
The subject offering is a net leased Flowers Foods in Indianola, MS. There are over ten years remaining on the initial fifteen-year term. The lease calls for 5% rental increases every five years during the initial term and at the 5-year option to renew. The net lease calls for minimal landlord obligations.
Indianola is a city in Sunflower County, Mississippi, United States, in the Mississippi Delta. The population was 12,066 at the 2000 census. It is the county seat of Sunflower County.
Because Indianola is located at the intersection of U.S. Route 49W and U.S. Route 82, as of 2004 it is one of the last economically viable small towns in the Mississippi Delta. In the 1980s and 1990s the city government convinced a major retailer to build a distribution center near the intersection of the two highways. This development infused cash into the local economy and allowed semiskilled jobs to be established.