Single-Tenant NNN Walgreens with
For Sale
$2,500,000
3124 Line Ave, Shreveport, LA 71104
Single-tenant Walgreens on a signalized hard corner featuring a drive-thru and a corporate-guaranteed long-term lease.
Property Size15,120 SF
Days on Market44
Property Features for 3124 Line Ave
General Information
Standard status
Active
Size
15,120 SF
Property subtype
Retail
Net Operating Income
$200,000
Additional Details
Cap Rate
8%
Amenities
drive-thru
Building Details
Building Size
15,120 SF
Year Built
2000
Tenancy
Single
Listing Agency:
Faris Lee Investments
Listed By:
Jeff Conover · License #CalDRE #01008195
(949) 412-1616
Source:
Farislee
Added: Jul 24
Changed: Sep 4
Last Checked: Sep 4 at 3:26AM
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 Faris Lee Investments
Investment Insights
Based on property information with market context.
This single-tenant Walgreens property is offered as a triple-net (NNN) investment with a corporate-guaranteed lease. The asset includes drive-thru service and is structured for passive management under a long-term operating history, with a recent lease extension noted in the remarks.
The property is positioned on a prime signalized hard corner at 3124 Line Ave, Shreveport, LA 71104. The remarks also note the location is across the street from a high school.
As presented in the offering materials, Walgreens is the sole tenant, and the lease is identified as long term with an extension. This combination of single-tenant NNN structure, corporate guarantee, and drive-thru configuration is intended to support predictable occupancy for investors seeking a net lease asset.
The property is positioned on a prime signalized hard corner at 3124 Line Ave, Shreveport, LA 71104. The remarks also note the location is across the street from a high school.
As presented in the offering materials, Walgreens is the sole tenant, and the lease is identified as long term with an extension. This combination of single-tenant NNN structure, corporate guarantee, and drive-thru configuration is intended to support predictable occupancy for investors seeking a net lease asset.
Key Highlights
- Single‑tenant Walgreens with drive‑thru on a signalized hard corner
- Corporate‑guaranteed lease (Walgreens); single‑tenant triple net (NNN) investment
- Long‑term operating history with a recent lease extension
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$168,059
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,361,180
$3.4M
Cap Rate 7%
$2,400,843
$2.4M
Cap Rate 9%
$1,867,322
$1.9M
Market Conditions
NOI Build-Up for 15,120 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$235.9K $15.60/SF
− Vacancy
−$11.8K −$0.78/SF
EGI
$224.1K $14.82/SF
− OpEx
−$56.0K −$3.70/SF
NOI
$168.1K $11.11/SF
Area
Shreveport, LA
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,361,180
Cap Rate 7%
$2,400,843
Cap Rate 9%
$1,867,322
Alternative Uses
Best Use
Specialty Retail
$2.40M
$2.10M – $2.80M
NOI $168,059 @ 7.0% cap · market cap 6.72%
Second Best
Retail
$2.14M
$1.87M – $2.50M
NOI $149,869 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$3.19M
$2.79M – $3.72M
NOI $223,389 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 71104, LA
13,680
Population
7,160
Households
1.9
Avg Household Size
36
Median Age
31%
College-Educated
94%
High-School Grad
3.9 sq mi
ZIP Area
3,508
Density / Sq Mi
$53,481
Median Household Income
$36,693
Median Earnings
$1,071
Median Rent
$163,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- R X Medical — 3825 Gilbert Dr, Shreveport, LA 71104
- Edmond Ducote — 3124 Line Ave, Shreveport, LA 711044240
- Christopher Lacour — 3124 Line Ave, Shreveport, LA 711044240
- Brenda Legaux — 3124 Line Ave, Shreveport, LA 711044240
- Walgreens Pharmacy — 3124 Line Ave, Shreveport, LA 71104
Frequently Asked Questions
What type of property is this?
Drug store - Single-tenant Walgreens on a signalized hard corner featuring a drive-thru and a corporate-guaranteed long-term lease.
Where is this drug store located?
The property is located at 3124 Line Ave Shreveport, LA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Single‑tenant Walgreens with drive‑thru on a signalized hard corner; Corporate‑guaranteed lease (Walgreens); single‑tenant triple net (NNN) investment; Long‑term operating history with a recent lease extension
