Available $1,910,235 - Retail - Single Tenant
Investment Offering & Highlights
- ABSOLUTE NNN LEASE STRUCTURE
Zero Landlord responsibilities for operating or capital expenses
- VERY ATTRACTIVE 10% RENT INCREASES EVERY 5 YEARS
10% rent increases in primary lease term and option periods
- CORPORATE BACKED LONG TERM LEASE
Family Dollar signed a lease in 2015 leaving over 10 years remaining on initial lease term
- RELOCATION STORE
Family Dollar has successfully operated in this market since 2000. The store was relocated to a more prominent position within the market
- LOCATED ALONG STATE HIGHWAY 75 (BELLEVIEW DRIVE)
The area’s main east-west commercial corridor with the highest traffic counts in Plaquemine
- LOCATED 15 MILES FROM THE STATE CAPITAL CITY, BATON ROUGE
The second largest metropolitan city in the state with a population over 225,000
THE SUBJECT PROPERTY IS A 9,180 SQUARE FOOT FAMILY DOLLAR LOCATED IN PLAQUEMINE, LOUISIANA, WHICH IS APPROXIMATELY 15 MILES SOUTHWEST OF BATON ROUGE. FAMILY DOLLAR SIGNED A 15-YEAR LEASE WHICH COMMENCED AUGUST 2015, LEAVING OVER 10 YEAR REMAINING ON THE TENANT’S INITIAL LEASE TERM. THE LEASE PROVIDES FOR 10% RENT INCREASES EVERY FIVE YEARS THROUGHOUT THE INITIAL LEASE TERM AND SIX, 5-YEAR RENEWAL OPTIONS. THE LEASE IS ABSOLUTE NNN PROVIDING FOR ZERO LANDLORD RESPONSIBILITIES.
The subject property is a relocation store from a retail strip center that was previously located at the end of Belleview Drive. Family Dollar successfully operated at that location for almost 20 years. In 2015, Family Dollar exhibited their long-term commitment to the market by signing a new 15-year lease and significantly expanding their operations to a free-standing store in a more prominent location.
Located along State Highway 75 (Belleview Drive) the site benefits from its exposure along the area’s main east-west commercial corridor with daily traffic counts exceeding 16,300 vehicles. Neighboring retailers include Walmart Supercenter, Hibbett Sports, O’Reilly Auto Parts, CVS, Walgreens, Tractor Supply Company, McDonald’s, and many other fast food restaurants, banks, retail and service providers.
- Price: $1,910,235
- Cap Rate: 6.75%
- Lease Term: 10+ Years Remaining
- Building Size: 9,180 SF
- Lot Size: 1.21 Acres
- Status: Available