Cap Rate: 6.35%
Net Operating Income: $66,000
Square Footage: 4,000
Lot Size: 4.6 AC
This is an absolute net leased C-Store offering in Leland, 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.
Leland is a city in Washington County, Mississippi, in the Mississippi Delta. The population was 4,481 at the 2010 census. It was long a center of cotton culture, which is still an important commodity crop in the rural area.
Leland is located in the Mississippi Delta on the banks of Deer Creek. Since before the Civil War, farming is the basis of the local economy. Mississippi State University and the federal government (the USDA) maintain an agriculture research station at Stoneville on Leland’s outskirts. Cotton, soybeans, rice and corn are the leading commodity crops.