210 Main StNew Iberia, LA 70563

Property Details for 210 Main St

Year built

2001

Lot size

0.45 AC

Property size (Sq ft)

7,920 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a single-tenant, net-leased Dollar General store located at 210 N Main St, New Iberia, LA 70563. The 7,920 square foot building sits on a 0.45-acre lot and boasts a strong 9.00% cap rate, generating a net operating income (NOI) of $40,440. Built in 2001, the property features a corporate-guaranteed lease with a credit-rated tenant, ensuring financial stability. The current lease, commencing March 8, 2001, expires May 31, 2028, with 3.5 years remaining and two 5-year options, each including a 10% rent increase. The property benefits from its prime location on Main Street, a major thoroughfare, and enjoys strong retail synergy with nearby businesses. The average household income within a 10-mile radius is $76,540, aligning perfectly with Dollar General's target demographic. Landlord receives $1,300/month for CAM expenses. This is a rare chance to acquire a well-established, high-performing asset with a long-term, secure lease and significant upside potential. The tenant, Dollar General, possesses an investment-grade credit rating (BBB, S&P) and enjoys a substantial market capitalization of approximately $30 billion. This property offers a compelling combination of strong cash flow, low risk, and significant long-term growth prospects.

Location Insight

City

New Iberia

County

Iberia Parish

State

Louisiana

Latitude

30.0579

Longitude

-91.7379

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