13505 Millerville Grn Blvd Baton Rouge, LA 70816
- Specialty properties
- 14,933 SF
- 2.06 lot acres
Current Use by Public Records
- Specialty properties
Property Details for 13505 Millerville Grn Blvd
- Year built
- 2022
- Lot size
- 2.06 lot acres
- Property size
- 14,933 SF
- Property type
- Specialty properties
- Property subtype
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple ownership of a 14,933 square foot, newly constructed (2022) Range USA facility in Baton Rouge, LA. Located at 13505 Millerville Greens Blvd, this property boasts a prime location with high visibility along Interstate 12, experiencing over 88,000 vehicles daily. The property sits on a 2.06-acre lot and benefits from a strong tenant, Range USA, the nation's leading indoor gun range and retail shop, operating under a 20.1-year absolute NNN lease with four, five-year renewal options. The lease commenced July 11, 2022, and includes a 5% rent increase every five years, providing significant long-term growth potential. The current lease term has 17.7 years remaining, and the property enjoys 100% occupancy, generating a substantial net operating income (NOI) of $322,744, resulting in a 7.00% cap rate. The asking price is $4,611,000. This investment is backed by a corporate guarantee and is situated in a densely populated area with over 150,000 people within a five-mile radius, including proximity to major retailers like Target, Best Buy, Lowe's, PetSmart, and Chick-fil-A. This presents a rare opportunity to acquire a high-performing, low-maintenance, long-term net lease investment with a strong, nationally recognized tenant.
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
- Baton Rouge
- County
- East Baton Rouge Parish
- State
- Louisiana
- Longitude
- -91.0278
- Latitude
- 30.4385
