Monroe Commercial Corner Redevelopment
For Sale
$300,000
1801 Martin Luther King Jr Dr, Monroe, LA 71202
0.587 acre commercial corner lot ideal for redevelopment.
Property Size4,500 SF
Lot Size0.58 Acres
Price / SF$66.67
Days on Market506
Property Features for 1801 Martin Luther King Jr Dr
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.58 Acres
Property subtype
Land
Listing Agency:
John Rea Realty
Listed By:
Jennifer Causey · License #LA995693195
(318) 261-0892
Source:
Exprealty
Added: May 31, 2025
Changed: Oct 17
Last Checked: Oct 16 at 9:48AM
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 John Rea Realty
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Investment Insights
Based on property information with market context.
This 0.587± acre commercial corner site is located at the signalized intersection of Ruffin Dr. and Martin Luther King Jr Dr/Accent Dr, just off Highway 165 and 1.2 miles from I-20. The property, formerly a self-serve car wash, is zoned commercial and is suitable for QSR, retail, or service-based development. The site features high visibility in a strong retail corridor with excellent access. Approximately 4,500 SF of existing paved concrete is present. Multiple access points are available, including three curb cuts on MLK Jr Dr and one on Ruffin Dr. Build-to-suit and ground lease options are available. The property benefits from its location among national retailers such as McDonald's, Wendy’s, Taco Bell, Popeyes, O’Reilly Auto Parts, and Church’s Chicken. This property presents a redevelopment or investment opportunity in Monroe’s high-traffic commercial corridor.
Key Highlights
- Prime signalized corner lot location at the intersection of Ruffin Dr. and Martin Luther King Jr Dr/Accent Dr.
- Zoned commercial, ideal for QSR, retail, or service‑based development.
- High visibility in a strong retail corridor with excellent access.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,727
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$454,540
$454.5K
Cap Rate 7%
$324,671
$324.7K
Cap Rate 9%
$252,522
$252.5K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$35.1K $7.80/SF
− Vacancy
−$2.6K −$0.59/SF
EGI
$32.5K $7.22/SF
− OpEx
−$9.7K −$2.16/SF
NOI
$22.7K $5.05/SF
Area
Ouachita County, LA
Vacancy
7.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$454,540
Cap Rate 7%
$324,671
Cap Rate 9%
$252,522
Alternative Uses
Best Use
Retail
$1.76M
$1.54M – $2.06M
NOI $123,484 @ 7.0% cap · market cap 41.16%
Second Best
Specialty Retail
$821.0K
$718.4K – $957.8K
NOI $57,470 @ 7.0% cap · market cap 19.16%
Theoretical Best
Multifamily LT 5
$48.47M
$42.41M – $56.55M
NOI $3,392,973 @ 7.0% cap · market cap 1,130.99%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 71202, LA
27,535
Population
11,119
Households
2.5
Avg Household Size
34
Median Age
11%
College-Educated
77%
High-School Grad
115.4 sq mi
ZIP Area
239
Density / Sq Mi
$26,883
Median Household Income
$21,895
Median Earnings
$827
Median Rent
$77,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Commercial land - 0.587 acre commercial corner lot ideal for redevelopment.
Where is this commercial land located?
The property is located at 1801 Martin Luther King Jr Dr Monroe, LA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Prime signalized corner lot location at the intersection of Ruffin Dr. and Martin Luther King Jr Dr/Accent Dr.; Zoned commercial, ideal for QSR, retail, or service‑based development.; High visibility in a strong retail corridor with excellent access.
