Current Use by Public Records
- Retail properties & Spaces
Property Details for 4932 La-34
- Year built
- 2017
- Lot size
- 1.82 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 9,100 square foot, single-tenant, absolute NNN leased convenience store in West Monroe, Louisiana. The property, built in 2017, boasts a strong 7% cap rate and a substantial 7.5 years remaining on the primary lease term with Dollar General, a Fortune 500 company. The lease features three, five-year options with a 10% rent increase in each, providing a built-in hedge against inflation. The tenant, Dollar General, is investment-grade rated (Baa2/BBB) and has demonstrated consistent growth, exceeding $37.8 billion in annual net sales in 2023. The property sits on a 1.82-acre lot with ample parking (30 spaces) and enjoys excellent visibility from LA-34. The asking price is $1,156,000, translating to $127.03 per square foot. The property's strong tenant, long lease term, and built-in rent increases make it an attractive investment for those seeking stable, passive income with significant upside potential. The Net Operating Income (NOI) is $80,903. This is a truly exceptional opportunity to acquire a high-quality, well-located retail property with a financially sound and expanding tenant.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- West Monroe
- County
- Ouachita Parish
- State
- Louisiana
- Longitude
- -92.3628
- Latitude
- 32.4182
