Current Use by Public Records
- Redeemed Church-The Living / Church
- LibertyX Bitcoin ATM / Atm
Property Details for 6708 Scenic Hwy
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 7,700-square-foot grocery store located at 6708 Scenic Highway in Baton Rouge, Louisiana, 70807. The property boasts a strong 8.50% cap rate and a substantial net operating income (NOI) of $222,836. Currently operating under an absolute triple-net (NNN) lease with IMTAA, a successful grocery store operator, the lease features zero landlord responsibilities, providing a secure investment with minimal management overhead. The lease commenced April 19, 2021, and has a remaining term of approximately 11.4 years, extending to April 18, 2036, with four 5-year renewal options. Annual rent increases of 2% offer a built-in hedge against inflation. The property's strategic location in a densely populated residential area of Baton Rouge, near major national retailers such as McDonald's, Lowe's, and The Home Depot, ensures consistent traffic and strong tenant performance. The asking price is $2,621,600, translating to a price per square foot of $340.47. This investment is further strengthened by a personal guarantee from the CEO of IMTAA. Baton Rouge's robust economy, fueled by Louisiana State University's substantial student population, contributes to the property's long-term growth potential. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset in a thriving market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Baton Rouge
- County
- East Baton Rouge
- State
- Louisiana
- Longitude
- -91.1729
- Latitude
- 30.511
