3711 La-15 Spearsville, LA 71277

Property Details for 3711 La-15

Year built

2024

Lot size

1.79 lot acres

Property size

10,640 SF

Property type

Specialty properties

Property subtype

Lifestyle centers

Description

This exceptional investment opportunity presents a brand-new, 10,640-square-foot Dollar General "Plus" store, situated on a 1.79-acre lot at 3711 LA-15, Spearsville, LA 71277. The property boasts a 15-year absolute NNN lease commencing October 15, 2024, and expiring October 31, 2039, with a 7.30% cap rate and a net operating income (NOI) of $135,907. The lease includes 5% rent increases every five years, and five-year renewal options with similar rent increases. The tenant, Dollar General, is a credit-rated corporation (S&P BBB+), publicly traded on the New York Stock Exchange (symbol DG), providing significant financial stability. This larger-format "Plus" store offers an expanded product selection, including fresh produce, dairy, frozen foods, and a broader range of general merchandise. Located 22 miles south of El Dorado, Arkansas, and approximately 35 miles north of Ruston, Louisiana, the property benefits from its position in the Monroe-Ruston Combined Statistical Area (CSA population: 275,000), including the proximity to Louisiana Tech University (22,000 students). The asking price is $1,861,700, translating to $174.97 per square foot. This is a strong, low-risk investment with a highly reputable tenant and significant growth potential. The property is 100% occupied with an occupancy date of October 15, 2024.

Location Insight

City

Spearsville

County

Union Parish

State

Louisiana

Longitude

-92.5221

Latitude

32.9086