rent to own home - Carriere, MS - a commercial property

This is a great investment for someone who wants a credit tenant and with minimal management required. Prefab metal building of 9,100 sf whch is the DG prototype store in rural areas. This 1 has an oversized lot, the corner is a Miss. DOT Right of Way ensuring visibility from 2 streets. Also parking area is all concrete paved and some DG's are blacktop. Dollar General exercised option to renew for five more years at increased rent and paying percentage rent.This is technically a NN lease whereby Dollar General pays a base rent of $3,959 per month ($47,508/year.). They reimburse for taxes and insurance. They also pay $187.89/mo. for maintenance reimbursement which is primarily for cutting the grass and having parking lot kept clean. This is the 1 maintenance item the Landlord has. LL is responsible for roof and structure.In addition this lease has a percentage rent clause so owners are able to see the store sales. Upon the last renewal the breakpoint increased and store sales are right at that figure, so potential exists for percentage rent in the future.The site is on a major U.S. Hwy (11) which parallels Interstate 59. Great community with improving demographics in terms of both...

Rent-to-own homes can be purchased using a Lease Option. This means the buyer rents the home for a set period of time, sets aside a portion of monthly rent payments during this time, and then has an option to purchase the home later, using the accumulated savings toward the down payment. Rent-To-Own properties offer home ownership opportunities to those who have poor credit or can't afford the down payment. It gives buyers time to rebuild their credit and accumulate purchase credits while living in the house.

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Property Info
Property ID209431447
CountyPearl River
Living Area (sqft)9,100
Property TypeCommercial

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