2575 70Th St Shreveport, LA 71105
- Retail properties
- 12,720 SF
- 1.29 lot acres
Current Use by Public Records
- Riverside Marine / Boat Dealer
- Gerber Collision & Glass / Auto Dent Removal Service / Auto Painting
Property Details for 2575 70Th St
- Year built
- 2000
- Lot size
- 1.29 lot acres
- Property size
- 12,720 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a 12,720 square foot, single-tenant net-leased retail property occupied by Gerber Collision & Glass. Located at 2575 E 70th St, Shreveport, LA 71105, on a 1.29-acre lot, this property boasts a strong 6.48% cap rate and a substantial net operating income (NOI) of $149,055. The building, constructed in 2000, is a single-story structure with C-3 zoning. Gerber Collision & Glass, a subsidiary of Boyd Group Services Inc., a publicly traded Canadian corporation, holds a 10-year lease commencing March 18, 2022, with a remaining term of approximately 7.3 years. The lease includes a 10% rental increase every five years, extending through option periods. The property's price per square foot is $180.82, and the asking price is $2,300,000. The tenant recently completed roof replacements with a 20-year warranty starting January 2024. This investment offers a secure, high-performing asset with significant long-term growth potential in a prime retail location. The property's occupancy is 100%, with an occupancy date of March 18, 2022. This is a rare opportunity to acquire a well-established, high-performing asset in a stable market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Shreveport
- County
- Caddo Parish
- State
- Louisiana
- Longitude
- -93.6941
- Latitude
- 32.452
