Cap Rate: 6.35%
Net Operating Income: $63,000
Square Footage: 1,400
This is an absolute net leased C-Store offering in Vicksburg, MS. The Valero branded station has a new 20 year absolute NNN lease and calls for 1.75% Annual Increases in rent. The lease is corporately guaranteed by a leading 462-unit operator. This location benefits from its location on an arterial highway through the town.
Vicksburg is a historic city in Warren County, Mississippi, United States. It is the county seat, and the population at the 2010 census was 23,856.
Located on a high bluff on the east bank of the Mississippi River across from Louisiana, Vicksburg was built by French colonists in 1719, and the outpost withstood an attack from the native Natchez people. It was incorporated as Vicksburg in 1825 after Methodist missionary Newitt Vick. In the American Civil War, it was a key Confederate river-port, and its July 1863 surrender to Ulysses S. Grant, along with the concurrent Battle of Gettysburg, marked the turning-point of the war. The city is home to three large installations of the United States Army Corps of Engineers, which has often been involved in local flood control.