Listed by Marcus & Millichap - Manhattan
$2,339,077
13 Years --- 5% Increases In Base Term
Details
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 10,566
Cap Rate 6.5%
NOI $152,040
Tenancy Single
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 10/29/2039
Remaining Term 13.3
Rent Bumps Yes
Lease Options 5, 5-Year Options
Year Built 2024
Acreage 0.960
Parking Spaces 38 spaces
Parking per 1,000 SqFt 3.60
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 10/30/2024
Ground Lease No
Available Individually or as a Portfolio
Investment highlights
- Absolute Net (NNN) DG Market Investment With Zero Landlord Responsibilities, Ideally Located Along Poticaw Bayou Road, A Key Thoroughfare Serving The Area With More Than 2,200 Vehicles Passing Daily
- Backed By Approximately 13.5 Years Remaining On The Base Lease Term, The Property Benefits From 5% Rent Increases Every Five Years, Delivering Long Term Income Security And Built In Growth To Help Offset Inflation
- Benefiting From A Highly Desirable Competitive Position, The Subject Property Is The Only DG Market Or Dollar General Within A 4-Mile Radius, Creating A Captive Customer Base And Supporting Long Term Tenant Stability
- Positioned Within One Mile Of Three Highly Attended Schools, Vancleave Upper Elementary, Vancleave Lower Elementary, And Vancleave High, with Combined Enrollment Exceeding 1,740 Students, Helping Support Recurring Traffic
Listing Contacts
Listed by Marcus & Millichap - Manhattan
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$152,040.00
$12,670.00/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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