Flowers Food has placed its 7,300-square-foot property at 915 U.S. Highway 82 W on the market for $1.1 million.
One of Indianola’s newest properties is on the market.
Flowers Food Bakeries Group has placed the Tastykake bakery at 915 U.S. Highway 82 W on the market for $1.1 million, according to Mathews Real Estate Investment Services, the firm that has listed the property.
The single-tenant building has been on the market since this summer, and Josh Bishop, vice president and director STNL at Mathews said it has already seen a good amount of attention from national investors.
“This is a strong location for a distribution center due to the fact that it’s within a three hour drive to Memphis, Little Rock, and Jackson,” Bishop said. “The property is on a very favorable long-term net lease, which is perfect for an investor seeking a stable source of passive income that requires little to no management responsibility.”
Bishop said the lease provides a favorable 5 percent rental increase in September of 2019 and September of 2024.
According to Mathews, the 7,300-square-foot building was built in 2014 and sits on 1.85 acres of land along the 82 corridor, with a cap rate of 7.35 percent.
Flower Foods is the second-largest producer and marketer of packaged bakery goods, a flier from Mathews said, and it operates over 47 bakeries in 16 states.
