Abbeville Louisiana 70510 Veterans Memorial Dr & Odea St Abbeville, LA 70510
- Retail properties
- 2,016 SF
Current Use by Public Records
- Retail properties
Property Details for Abbeville Louisiana 70510 Veterans Memorial Dr & Odea St
- Year built
- 2024
- Property size
- 2,016 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
Fee simple ownership of a brand-new, 2,016 sq ft Starbucks in Abbeville, Louisiana, boasting a 10-year lease with four 5-year options. The property features a drive-thru and is situated on a hard corner intersection in a high-traffic retail corridor with numerous national tenants. The lease includes 10% rent increases every five years during the initial term and 8% at the start of each option period, ensuring consistent NOI growth. Landlord responsibilities are limited to the roof, exterior structure, foundation, and parking lot. The building was constructed in 2024 and enjoys 100% occupancy with a corporate guarantee from Starbucks (NYSE: SBUX), an investment-grade tenant (S&P: BBB+). The property's strong location benefits from a dense retail environment and proximity to schools and a large population with high average household income. The asking price is $2,137,000, representing a 6.00% cap rate and a price per square foot of $1,060.02. The annual net operating income (NOI) is $128,208. The site is located at the intersection of Veterans Memorial Drive and Odea Street in Abbeville, Louisiana, 70510. The combined daily traffic volume on these roads is 21,200 vehicles. The 5-mile trade area encompasses over 22,000 residents and 9,000 employees, with an average household income exceeding $70,214.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Abbeville
- County
- Vermilion Parish
- State
- Louisiana
- Longitude
- -92.1096
- Latitude
- 29.9793
