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    2023 Foster Dr Baton Rouge, LA 70807

    For Sale
    $2,621,000

    High-yield NNN grocery store, Baton Rouge.

    Property size:
    4,545 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents a 4,545-square-foot grocery store located at 2023 North Foster Drive, Baton Rouge, LA 70807. The property is currently under a 15-year absolute triple-net (NNN) lease with IMTAA, a successful grocery store operator, commencing April 19, 2021, and expiring April 18, 2036. With 11.4 years remaining, this lease offers significant long-term stability and minimal landlord responsibilities. The asking price is $2,621,000, representing a price per square foot of $576.68 and an attractive 8.50% cap rate based on a net operating income (NOI) of $222,853. The lease includes annual rent bumps of 2%, providing a strong hedge against inflation. Furthermore, the lease contains four 5-year renewal options, extending the potential investment horizon. The tenant's strong personal guarantee from the CEO adds an extra layer of security. The property benefits from its location in a densely populated residential area of Baton Rouge, a growing market with a large student population due to the presence of Louisiana State University. Nearby national tenants include McDonald's, Advance Auto Parts, Subway, and many others, indicating a strong retail environment. This is a compelling investment opportunity offering a high yield, long-term lease, and minimal management requirements. 100% occupancy ensures immediate cash flow.

    Property Features for 2023 Foster Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,545 SF

    HighLights

    • 12‑year remaining term on an absolute triple‑net (NNN) lease with zero landlord responsibility.
    • Strong personal guarantee from the CEO of IMTAA, a successful grocery store operator.
    • 8.50% cap rate, representing a high‑yield opportunity in the current interest rate environment.
    • 2% annual rent increases, providing a hedge against inflation.
    • Located in a densely populated Baton Rouge residential area, near LSU's large student population.
    • Baton Rouge's strong retail environment is evidenced by nearby national tenants including McDonald's, Advance Auto Parts, Subway, and others.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    LibertyX Bitcoin ATM Atm

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Baton Rouge
    County
    East Baton Rouge
    State
    Louisiana
    Longitude
    -91.1833043
    Latitude
    30.5340755

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    FAQs

    What type of property is this?
    Individual retail property - High-yield NNN grocery store, Baton Rouge.
    Where is this individual retail property located?
    The property is located at 2023 Foster Dr Baton Rouge, LA.
    What is the asking price?
    The asking price for this property is $2,621,000.
    What are key features of this property?
    This property features: 12-year remaining term on an absolute triple-net (NNN) lease with zero landlord responsibility.; Strong personal guarantee from the CEO of IMTAA, a successful grocery store operator.; 8.50% cap rate, representing a high-yield opportunity in the current interest rate environment.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2023 Foster Dr Baton Rouge, LA 70807
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