1950 Louisville Ave Monroe, LA 71201
- Retail properties
- 2,221 SF
Current Use by Public Records
- Popeyes Louisiana Kitchen / Chicken Restaurant / Cajun Restaurant
Property Details for 1950 Louisville Ave
- Property size
- 2,221 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This investment opportunity presents a 2,221 square foot Popeyes restaurant located at 1950 Louisville Ave, Monroe, LA 71201. The property is situated on a high-visibility site along Louisville Avenue, a primary retail thoroughfare with an average annual daily traffic count of 22,473. The absolute NNN ground lease boasts a new 10-year term commencing January 1, 2024, and expiring December 31, 2033, with built-in rent bumps every five years and three additional five-year renewal options. The lease is guaranteed by Carrols Corporation, a significant operator of over 1,000 Burger King and Popeyes restaurants. This presents a low-management, passive investment opportunity with no landlord responsibilities for maintenance. The property benefits from a strong tenant mix in the immediate vicinity, including major national retailers such as Walmart Supercenter and Brookshire's. The location enjoys excellent demographics, with 91,579 residents within a five-mile radius and proximity to several schools and the University of Louisiana Monroe. The asking price is $1,240,000, offering a 5.85% cap rate and a net operating income (NOI) of $77,500. This Popeyes location is ideally positioned to capture significant crossover shopping opportunities, given its proximity to a Walmart Supercenter anchored shopping center. The property is offered as a 1031 exchange opportunity.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Monroe
- County
- Ouachita Parish
- State
- Louisiana
- Longitude
- -92.1047
- Latitude
- 32.5188
