4625 Highway 1, Napoleonville, LA

Retail for Sale ‐ $950,000 ‐ 9,014 Sq. Ft.

Bull Realty, Inc.

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Agent Info

NameMichael Bull, CCIM
CompanyBull Realty, Inc.

Property Info

CIMLS #930119
Location4625 Highway 1
Napoleonville LA 70390
Last UpdatedMarch 22nd, 2017
TypeRetail
Price$950,000
Building Size9,014 Sq. Ft.

Contact


Property Description

This successful and established Dollar General, located in Napoleonville, LA is offered at a 8.3% cap rate. This well maintained and well located store is strategically equidistant between Baton Rouge and New Orleans in Assumption Parish along Bayou Laforche in “Cajun Country”. It has a 15 year NN lease that has a rare upcoming 10% rent increase in the 11th year with three additional 5-year options. The HVAC units were replaced in 2014.

Dollar General is publicly traded on the NYSE and headquartered in Goodlettsville (Nashville), TN. They have over 13,000 stores in 43 states and plan to continue expansion of 1,000 new stores in 2017.

Location Description:

Strategically equidistant between Baton Rouge and New Orleans in Assumption Parish along Bayou Laforche in “Cajun Country”.

Highlights:

>> Price recently adjusted - 8.3% CAP!

>> 15 year NN lease with 7 years remaining on the initial term

>> Rare 10% rent increase in 11th year of initial term with three 5-year options

>> Annual net income of $78,900

>> Attractive 8.3% cap rate

>> Upcoming rent increase in December 2018

>> Successful, proven location built in 2008 on current store prototype

>> 9,014 SF store on large, 1+ acre parcel

>> Landlord responsible for roof, structure and grounds with CAM reimbursements of $3,700 annually

>> Tenant reimburses Landlord 100% for taxes and pays insurance directly

>> New HVAC units installed in 2014

>> Corporate guaranteed lease by Dollar General


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