Current Use by Public Records
- Lifestyle centers
Property Details for 24416 Hwy
- Year built
- 2024
- Lot size
- 1.47 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a brand-new, 10,500-square-foot, single-tenant retail building in Krotz Springs, Louisiana. The property is a combined Dollar Tree and Family Dollar store, operating under a 10-year, double-net (NN) lease commencing April 1, 2024, and expiring March 31, 2034. The lease includes four five-year renewal options, each with a $0.50 per square foot rent increase. The tenant, Dollar Tree Corporation, holds a BBB- investment-grade credit rating, providing significant financial security. Located on US Highway 190, the property benefits from high visibility and significant daily traffic (13,648 vehicles per day). The strong demographics of the area, with a five-mile population of 2,590 and an average household income exceeding $68,484, further enhance the investment's appeal. The property sits on a 1.47-acre lot and was built in 2024. The asking price is $1,303,450, representing a 7.25% cap rate based on a net operating income (NOI) of $94,500. Landlord responsibilities are minimal under the NN lease structure. This is a rare opportunity to acquire a high-performing retail asset with a strong tenant and favorable lease terms in a desirable location. The property is zoned C and features one single-story building.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Krotz Springs
- County
- St Landry Parish
- State
- Louisiana
- Longitude
- -91.7614
- Latitude
- 30.5406
