106 Oil Patch Rd Broussard, LA 70518
- Industrial properties
- 12,000 SF
- 0.96 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 106 Oil Patch Rd
- Year built
- 2023
- Lot size
- 0.96 lot acres
- Property size
- 12,000 SF
- Property type
- Industrial properties
- Property subtype
- Distribution centers
Description
This fee-simple industrial property in Broussard, Louisiana, offers a compelling investment opportunity. The 12,000-square-foot distribution center is currently 100% occupied by M&J Valve Services under an absolute NNN lease with a corporate guarantee. The lease commenced April 1, 2023, and has a remaining term of approximately 3.4 years, with two 5-year renewal options at 4.15% rental increases each. This provides a stable income stream and built-in inflation protection. The property boasts a strong net operating income (NOI) of $144,000, resulting in a 7.50% cap rate. Located at 106 Oil Patch Rd, Broussard, LA 70518, on a 0.96-acre lot, the building was constructed in 2023 and features 17 parking spaces. The property is zoned for light industrial use and benefits from its location near US Hwy 90, a major thoroughfare with high daily traffic volume. The building includes two five-ton cranes and HVAC. The property's location within a thriving industrial corridor, alongside established businesses like Sysco, Weatherford, FedEx, and UPS, further enhances its value and potential for future growth. The surrounding area demonstrates strong demographics, with a significant population and high average household income within a 5-mile radius. The asking price is $1,920,000, representing a price per square foot of $160. The property's APN is 6154407.
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
- Broussard
- County
- Lafayette Parish
- State
- Louisiana
- Longitude
- -91.9656
- Latitude
- 30.1646
