Leased Restaurant
For Sale
$220,000
1219 N Highway 171, Lake Charles, LA 70611
Commercial restaurant space on N Highway 171 includes parking and is located near I-10.
Property Size2,135 SF
Price / SF$103.04
Days on Market834
Property Features for 1219 N Highway 171
General Information
Standard status
Active
Size
2,135 SF
Property subtype
Retail
Zoning
B
Additional Details
Highway Access
Yes
Listing Agency:
Coldwell Banker Ingle Safari R
Listed By:
Robbie Ingle · License #912122392
(337) 304-0481
Source:
Lacdb.resimplifi
Added: Jul 5, 2024
Changed: Oct 4
Last Checked: Oct 14 at 7:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Ingle Safari R
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This restaurant property at 1219 N Highway 171 provides 2,135 square feet of commercial space, with parking serving the site. The property is zoned B and is configured for restaurant operations. An existing lease is in place, and a restaurant business is currently operating at the location.
The site is positioned near I-10, providing access to a major interstate route. The property does not display a for-sale sign, and showings require discretion because of the ongoing business and lease. Additional lease information is available through the listing process.
The site is positioned near I-10, providing access to a major interstate route. The property does not display a for-sale sign, and showings require discretion because of the ongoing business and lease. Additional lease information is available through the listing process.
Key Highlights
- 2,135 square feet of restaurant space
- Existing lease with an operating restaurant business
- Zoned B
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,840
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,800
$376.8K
Cap Rate 7%
$269,143
$269.1K
Cap Rate 9%
$209,333
$209.3K
Market Conditions
NOI Build-Up for 2,135 SF
Gross rent
$28.2K $13.20/SF
− Vacancy
−$1.3K −$0.59/SF
EGI
$26.9K $12.61/SF
− OpEx
−$8.1K −$3.78/SF
NOI
$18.8K $8.82/SF
Area
Calcasieu County, LA
Vacancy
4.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,800
Cap Rate 7%
$269,143
Cap Rate 9%
$209,333
Alternative Uses
Best Use
Specialty Retail
$460.2K
$402.7K – $536.9K
NOI $32,214 @ 7.0% cap · market cap 14.64%
Second Best
Retail
$269.1K
$235.5K – $314.0K
NOI $18,840 @ 7.0% cap · market cap 8.56%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
79k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Dining 31%
Hotels & Casinos 4%
Home Improvements & Furnishings 2%
Raceway
Shops & Services
21,514 visits/mo
0.1 miles
Church's Chicken
Dining
9,233 visits/mo
0.1 miles
Burger King
Dining
7,491 visits/mo
0.2 miles
Dollar General
Shops & Services
6,955 visits/mo
0.1 miles
Taco Bell
Dining
5,761 visits/mo
0.0 miles
Demographics for 70611, LA
22,457
Population
8,971
Households
2.5
Avg Household Size
37
Median Age
30%
College-Educated
91%
High-School Grad
81.7 sq mi
ZIP Area
275
Density / Sq Mi
$101,146
Median Household Income
$56,450
Median Earnings
$1,241
Median Rent
$249,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercial restaurant space on N Highway 171 includes parking and is located near I-10.
Where is this conventional restaurant located?
The property is located at 1219 N Highway 171 Lake Charles, LA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 2,135 square feet of restaurant space; Existing lease with an operating restaurant business; Zoned B
