1079 Us-90 Morgan City, LA 70380
- Lifestyle centers
- 9,540 SF
- 0.99 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 1079 Us-90
- Year built
- 2014
- Lot size
- 0.99 lot acres
- Property size
- 9,540 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 9,540-square-foot shopping center in Morgan City, LA, presents a compelling investment opportunity. Boasting a 7.75% cap rate and a strong NOI of $159,095, the property is 100% occupied by six tenants, including national brands like CATO and GameStop, under NNN leases. Built in 2014, the single-building center sits on a 0.99-acre lot on US Highway 90, a major thoroughfare with approximately 32,285 vehicles passing daily. Its prime location benefits from high traffic volume, shadow-anchoring by a Walmart Supercenter generating 1.9 million annual visits, and proximity to numerous other national and regional retailers, hotels, and schools. The property features a metal roof, LED lighting upgrades completed in 2023, and additional income streams from a billboard lease, donation bin, and kiosk. The average household income within a ten-mile radius is $61,346. This stabilized investment offers long-term tenants (28 and 19-year leases respectively) and a diverse local economy including the oil and gas industry. The asking price is $2,053,000, translating to $215.20 per square foot. The property's three units are spread across the 9,540 net rentable square feet. This is a rare opportunity to acquire a high-performing retail center in a thriving Louisiana 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
- Morgan City
- County
- St. Mary Parish
- State
- Louisiana
- Longitude
- -91.2655
- Latitude
- 29.6826
