Pontotoc, MS - Huddle House

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, Huddle House investment property located in Pontotoc, Mississippi. The tenant, Huddle House recently signed a brand new 5 year extension, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with minimal landlord responsibilities making it an ideal, low management investment opportunity for an out of state investor.

The Huddle House is located along State Highway 15 (17,000 VPD), the major retail thoroughfare serving the city of Pontotoc. The property sits just south of a Walmart Supercenter, the city’s dominant retail anchor, within a corridor that also features national/credit tenants including Circle K, AT&T, U-Haul, and Tractor Supply Co. The asset is in close proximity to a dense retail cluster featuring CVS Pharmacy, Zaxby’s, McDonald’s, Wendy’s, Burger King, Sonic, NAPA Auto Parts, and True Value Hardware. In addition, the property is near additional national/credit tenants including O’Reilly Auto Parts, AutoZone, Advance Auto Parts, Dollar General, Dollar Tree, Hibbett Sports, Pizza Hut, and Piggly Wiggly, further increasing consumer traffic to the site. The site also benefits from nearby access to the State Highway 6/76/U.S. Highway 278 interchange (15,000 VPD), the primary route connecting Pontotoc to Tupelo, approximately 20 miles east. The subject property is in close proximity to Pontotoc Elementary School (657 students) and Pontotoc High School (712 students), as well as major area employers including Southern Motion, Hanes Industries, ABC Supply Co., and Eaton. The 5-mile trade area is supported by a population of over 11,600 with an average household income of over $72,000.

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