509 Hospital Rd New Roads, LA 70760
- Retail properties
- 1,421 SF
- 0.70 lot acres
Current Use by Public Records
- Take 5 Oil Change / Oil Change Service
Property Details for 509 Hospital Rd
- Year built
- 2023
- Lot size
- 0.70 lot acres
- Property size
- 1,421 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a fee-simple ownership of a Take 5 Oil Change in New Roads, Louisiana. The property boasts a 1,421 square foot building situated on a 0.7-acre lot at 509 Hospital Rd, 70760. Built in 2023, this single-tenant retail property operates under a 20-year absolute triple-net (NNN) lease with a corporate guarantee from Driven Brands Funding, LLC. The current annual net operating income (NOI) is $90,000, representing a 6.50% capitalization rate. The lease features a strong rent of $974.39 per square foot and includes attractive annual rent increases of 1.50% starting in year two, further enhancing the investment's long-term value. Four, five-year tenant renewal options provide additional security and predictable income growth. The property's 100% occupancy and strong tenant covenant make this a compelling investment for discerning buyers seeking a stable, high-yield asset in a desirable location. This is a sale-leaseback transaction, closing upon escrow. The asking price is $1,384,615.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Roads
- County
- Pointe Coupee Parish
- State
- Louisiana
- Longitude
- -91.466
- Latitude
- 30.6863
