West Monroe Restaurant
505 CONSTITUTION DRIVE West Monroe, LA 71292
505 CONSTITUTION DRIVE, West Monroe, LA, 71292
Contact for pricing
For Sale
Contact for pricing
Restaurant building for sale in a prime location.
Property Size4,772 SF
Price / SF$141.45
Days on Market160
Property Features for 505 CONSTITUTION DRIVE
General Information
- Standard status
- Active
- Size
- 4,772 SF
- Property subtype
- Hospitality
Building Details
- Year Built
- 2000
Listing agency
Coldwell Banker Group One Realty
Listed by
mark ouchley · License #LA
Source
Crexi
Added: Feb 11 Updated: Jul 6 at 1:02PM Checked: Jul 19 at 9:45AM
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 Group One Realty
Investment Insights
Based on property information with market context.
This 4,772 square foot building is located in West Monroe, Louisiana. Formerly a Hooters restaurant, the property is positioned in a central location near over 10 national hotels and national retail chains. The property is also located close to a new development planned by the city of West Monroe, which includes a brand new bowling alley and entertainment center for adults and kids. This location is suitable for a restaurant.
Key Highlights
- Prime restaurant location in the heart of West Monroe, Louisiana.
- Formerly a Hooters location, offering potential for immediate restaurant setup.
- Centrally located among over 10 national hotels.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.9k | $18.00 |
| − Vacancy | −$4.6k | −$0.97 |
| EGI | $81.3k | $17.03 |
| − OpEx | −$20.3k | −$4.26 |
| NOI | $60.9k | $12.77 |
4,772 SF · lease $18.00/SF/yr · vacancy 5.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$870.6K
$761.8K – $1.02M
NOI $60,943 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$51.40M
$44.98M – $59.97M
NOI $3,598,060 @ 7.0% cap · market cap 533.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Underdogs Grill & Chill
Restaurant
Similar For Sale Nearby
Similar Off Market Nearby
- Hibachi grill and buffet — 120 Blanchard St, West Monroe, LA 71291
- Hibachi Grill Sushi & Buffet — 120 blanchard st, west monroe, la 71291
FAQs
What type of property is this?
Conventional restaurant - Restaurant building for sale in a prime location.
Where is this conventional restaurant located?
The property is located at 505 CONSTITUTION DRIVE West Monroe, LA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Prime restaurant location in the heart of West Monroe, Louisiana.; Formerly a Hooters location, offering potential for immediate restaurant setup.; Centrally located among over 10 national hotels.
