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Shoney’s

3312 Pemberton Square Boulevard, Vicksburg, MS, United States
$971,040 7.50% Cap 5,584 sq ft Built 1987 Representative Photo Print This Page

Location

3312 Pemberton Square Boulevard, Vicksburg, MS, United States

Price: $971,040
CAP Rate: 7.50%
Net Operating Income: $72,828
Lot Size: 1.12 Acres
Year Built: 1987
Market: Vicksburg, MS
2018 Rent to Sales: 7.74%

Absolute NNN LeaseCorporate GuaranteeHealthy Rent to Sales RatioHeavily Trafficked LocationLocated on a Major Commercial ThoroughfareScheduled IncreasesZero Landlord Obligations

This is the unique opportunity to purchase a long term absolute NNN leased Shoney’s property. The lease is a 20 year term which commenced in 2007 and calls for 2% rental increases every 5 years (as of January 2017)and two 10 year renewal options beyond the initial term. The lease provides for zero landlord obligations. Shoney’s USA, Inc. corporately guarantees the lease. The property benefits greatly from its location and position in the market. It sits on a major retail thoroughfare just off of Interstate 20 with many national and regional retailers in the surrounding area. It has numerous traffic generators in the immediate area including, Pemberton Square Mall, Home Depot, Kroger, Fairfield Inn & Promise Hospital. The Home Depot location is the only one within 36 miles and Promise Hospital of Vicksburg is the area’s newest long-term acute care hospital established in 2003. Pemberton Square Mall is ¼-mile from Shoney’s and is Vicksburg only regional enclosed major shopping center. Anchored by Dillard’s, Belk, and J.C.Penney, Pemberton Square services a seven county trade area. Wilcox Theatre 4. The 2017 Rent to Sales ratio totaled 8.3%.

Shoney’s is located just off of an I-20 exit in Vicksburg, Mississippi. Vicksburg is located 234 miles northwest of New Orleans on the Mississippi and Yazoo rivers, and 40 miles due west of Jackson, the state capital. In 2010, it became a Micropolitan Statistical Area with a population of 49,644. Vicksburg is the principal city of the Vicksburg Micropolitan Statistical Area, which includes all of Warren County.

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