6130 La-129 Monterey, LA 71354
- Retail properties
- 9,026 SF
- 1.41 lot acres
Current Use by Public Records
- Retail properties
Property Details for 6130 La-129
- Year built
- 2017
- Lot size
- 1.41 lot acres
- Property size
- 9,026 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 9,026 square foot, single-tenant retail property in Monterey, Louisiana. The property, built in 2017, is currently 100% occupied by Dollar General under an absolute NNN lease with 7.5 years remaining on the primary term, extending to May 30, 2032. The lease includes three, 5-year options with a 10% rent increase in each. The property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $77,622. Located at 6130 LA-129, the property sits on a 1.41-acre lot and offers 30 parking spaces. The asking price is $1,109,000, translating to $122.87 per square foot. This is a highly desirable investment due to the tenant's investment-grade credit rating, the long-term lease, and the property's strategic location as the only dollar store within a 21-mile radius. Dollar General's impressive growth trajectory, including plans for continued expansion, further solidifies this investment's potential. The property's Class B construction and excellent visibility from Townline Road add to its appeal. This is a rare opportunity to acquire a stable, high-performing retail asset with significant long-term growth prospects.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Monterey
- County
- Concordia Parish
- State
- Louisiana
- Longitude
- -91.718
- Latitude
- 31.4527
