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Hooters 982 Goodman Rd W 4,190 SF Retail Building Horn Lake, MS 38637 $2,254,483 ($538.06/SF) 7.25% Cap Rate
Investment Highlights
- Long-Term Corporate Hooters Lease: Recent 5-year lease extension (executed July 1st, 2025) underscores tenant commitment.
- Absolute NNN Lease: Zero landlord responsibilities provide passive investment benefits.
- Dense Retail Corridor: Surrounded by Target, The Home Dept, Walmart, Lowe’s, Walgreens, and Kroger, drawing consistent consumer traffic.
- Replaceable Rents: Ability to increase rents should Hooters not renew.
- Established Operator & Location: Has operated as a Hooters for over 20 years; strong historical performance.
- Accessible & Visible: Strong frontage along Goodman Road, one of the area’s primary retail arterials.
Executive Summary
Hooters (the "Property") is a single-tenant net-leased asset strategically located along Goodman Road in Horn Lake, Mississippi—one of DeSoto County’s main commercial thoroughfares. The Property enjoys excellent visibility and access, with nearby national retailers including Walmart Supercenter, Lowe’s, AutoZone, Walgreens, Chick-fil-A, and Kroger, making this a well-trafficked retail corridor.
Built in 2002, the ±4,190 square foot building is situated on a prominent outparcel with strong frontage and convenient ingress/egress. In July 2025, the tenant, Hooters, executed a five-year lease extension, demonstrating ongoing commitment to the location. The lease includes fixed rental increases and is structured as an absolute NNN, offering passive cash flow with no landlord responsibilities.
This offering presents a rare opportunity to acquire a stabilized single-tenant restaurant asset in a dynamic suburban Memphis market, underpinned by long-term corporate tenancy and surrounded by a dense retail and residential base.
Built in 2002, the ±4,190 square foot building is situated on a prominent outparcel with strong frontage and convenient ingress/egress. In July 2025, the tenant, Hooters, executed a five-year lease extension, demonstrating ongoing commitment to the location. The lease includes fixed rental increases and is structured as an absolute NNN, offering passive cash flow with no landlord responsibilities.
This offering presents a rare opportunity to acquire a stabilized single-tenant restaurant asset in a dynamic suburban Memphis market, underpinned by long-term corporate tenancy and surrounded by a dense retail and residential base.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,190 SF
Building Class
C
Year Built
2002
Price
$2,254,483
Price Per SF
$538.06
Cap Rate
7.25%
NOI
$163,450
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.00 AC
Zoning
C-4 - Commercial
Parking
70 Spaces (16.71 Spaces per 1,000 SF Leased)
Frontage
183’ on Goodman Rd
Amenities
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 1087251200000100 | Improvements Assessment | $84,579 |
| Land Assessment | $65,406 | Total Assessment | $149,985 |
Property Taxes
Parcel Number
1087251200000100
Land Assessment
$65,406
Improvements Assessment
$84,579
Total Assessment
$149,985
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Hooters | 982 Goodman Rd W
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