Listed by Sands Investment Group Austin - Offenbecher, Sands Investment Group Austin
$4,620,000
Country Club Plaza - Slidell LA
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 64,686
Cap Rate 8.99%
NOI $415,369
Occupancy 84.79%
Tenancy Multi
Price per SqFt $71
Year Built 1982
Acreage 6.890
Investment Type Net Lease
Ground Lease No
8.99% CAP | Value-Add Shopping Center | Off I-12 | $71.42/SF
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 64,686 SF Country Club Plaza located at 803–865 Brownswitch Road in Slidell, LA. This deal includes attractive assumable debt at a 6% interest rate through 12/31/2027, offering an 10.11% cash-on-cash return at the list price and a 17.68% cash-on-cash return by year 5.
Investment highlights
- Competitively Priced: Offered at an 8.99% CAP Rate.
- Attractive Assumable Debt: 6% interest rate until 12/31/2027, offering a 10.11% cash-on-cash return at the list price.
- Value Add - Lease Up: By leasing 15% of the vacant units, the CAP Rate can be increased to over 10.11%, improving both yield and exit value. Vacancies range from 1,512 to 3,500 SF, which are historically the easiest to fill at the highest rents (average market rents between $13.50 and $15.00 per SF).
- Well Below Replacement Cost: Priced at $71.42/SF.
- Strong Tenancy: Club4 Fitness is on a long-term lease through January 2030, and national tenants Dollar General and Buffalo Wild Wings have been at the location since 2000.
- Strategic Location in Louisiana's Fastest Growing Parish: Slidell is situated at the convergence of three major interstates, a $100 million medical system, NASA’s high-wage space industry, and affluent local demographics with average household incomes over $95,907 within a 3-mile radius.
Listing Contacts
Listed by Sands Investment Group Austin - Offenbecher, Sands Investment Group Austin
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$415,369.00
$34,614.08/mo
Valuation Metrics
0
DSCR
8.99%
Cap Rate
8.99%
ROI
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