2719 Charity St Abbeville, LA 70510

Property Details for 2719 Charity St

Year built

2016

Lot size

0.82 lot acres

Property size

3,147 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a freestanding Dairy Queen restaurant in Abbeville, Louisiana. The property, built in 2016, boasts 3,147 square feet on a 0.82-acre lot with 38 parking spaces. The tenant, Dairy Queen, operates under an absolute NNN lease with a corporate guarantee, providing significant security for investors. The current lease commenced January 1, 2022, and extends through December 31, 2039, with a remaining term of 15.1 years. The lease includes four 5-year renewal options. The property generates a substantial net operating income (NOI) of $128,000, representing a 6.00% cap rate at the asking price of $2,319,000. A significant 8.7% rent increase is scheduled for January 2025, with further 6.5% increases every five years thereafter, offering inflation protection. The property enjoys excellent visibility on Charity Street and Veterans Memorial Drive, a high-traffic area with approximately 27,000 vehicles per day. Its strategic location near major retailers like Lowe's, Home Depot, Walmart, and Super 1 further enhances its appeal. The surrounding area demonstrates strong demographics, with a population of 57,274 and an average household income of $77,038 within a 5-mile radius. The property is zoned commercial and its APN is RA384995. This Dairy Queen location offers a compelling combination of a strong tenant, a long-term lease, and a prime location, making it an attractive investment opportunity.

Location Insight

City

Abbeville

County

Vermilion Parish

State

Louisiana

Longitude

-92.1029

Latitude

29.9716