12606 Choctaw Drive Ext Baton Rouge, LA 70807
- Lifestyle centers
- 7,385 SF
Current Use by Public Records
- Lifestyle centers
Property Details for 12606 Choctaw Drive Ext
- Property size
- 7,385 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a 7,385-square-foot grocery store located at 12606 South Choctaw Drive, Baton Rouge, LA 70807. The property is currently 100% occupied under an absolute triple-net (NNN) lease with IMTAA, a successful grocery and convenience store operator, providing a secure investment with zero landlord responsibilities. The lease commenced April 19, 2021, and has a remaining term of approximately 11.4 years, expiring April 18, 2036, with four 5-year renewal options. The asking price is $2,621,000, representing a price per square foot of $354.91 and an attractive 8.50% cap rate based on a net operating income (NOI) of $222,853. Rent increases are built in with 2% annual bumps, offering a strong hedge against inflation. The property benefits from a strong personal guarantee from the CEO of IMTAA. The strategic location in a densely populated residential area of Baton Rouge, a city with over 223,000 residents and home to Louisiana State University (over 37,000 students), ensures strong tenant performance and future growth potential. Nearby national tenants include McDonald's, Advance Auto Parts, Subway, Dollar General, and many more, further enhancing the property's desirability and visibility. This is a compelling investment opportunity in a thriving market.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Baton Rouge
- County
- East Baton Rouge
- State
- Louisiana
- Longitude
- -91.1833
- Latitude
- 30.5341
