420 Westbank Expy Gretna, LA 70053
- Retail properties
- 5,693 SF
- 0.87 lot acres
Current Use by Public Records
- Shoney's / Hamburger Restaurant / Restaurant
Property Details for 420 Westbank Expy
- Year built
- 1969
- Lot size
- 0.87 lot acres
- Property size
- 5,693 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a 5,693 square foot Shoney's restaurant located at 420 Westbank Expy, Gretna, LA 70053, in Jefferson Parish. The property sits on a 0.87-acre lot and boasts a 30-year triple-net (NNN) lease with a corporate guarantee from Shoney's North America LLC, significantly mitigating landlord responsibilities. The lease commenced January 2, 2007, and expires December 31, 2036, leaving approximately 12.1 years remaining. The current annual rent is $168,000, with built-in rent increases of 10% every five years, providing consistent income growth throughout the lease term. The property was built in 1969 and enjoys 100% occupancy. This investment is situated in a thriving community with an average household income exceeding $79,000 within a five-mile radius, ensuring a stable and desirable location for the tenant. The asking price for this exceptional NNN leasehold is $2,400,000. This is a rare opportunity to acquire a long-term, secure, and high-performing investment property backed by a strong corporate guarantor.
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
- Gretna
- County
- Jefferson Parish
- State
- Louisiana
- Longitude
- -90.0551
- Latitude
- 29.9094
