Current Use by Public Records
- NAPA Auto Parts - Louisiana Machinery / Auto Parts Store
- Tractor Supply Co. / (Bike/Boat/Book/etc) Store / Pet Store & Service
- USAA / Atm
Property Details for 1111 Boone St
- Year built
- 2016
- Lot size
- 5.00 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a fee-simple, 52,179 square foot, single-story shopping center in Leesville, Louisiana. Built in 2016, the property boasts 100% occupancy with four tenants: Tractor Supply Co., NAPA Auto Parts, Goodwill, and an ATM. The property features a strong credit anchor in Tractor Supply, who recently renewed their lease for five years. NAPA and Goodwill have also extended their leases, demonstrating commitment to this location. All leases are NNN, minimizing landlord responsibilities. The current Net Operating Income (NOI) is $269,092, resulting in a 7.85% cap rate. The asking price is $3,428,000, translating to $65.70 per square foot. The property sits on a five-acre lot at 1111 Boone St, conveniently located off Highway 171, adjacent to Walmart and Lowe's, in the heart of Leesville's retail corridor. Leesville benefits from the economic activity generated by Fort Johnson and the Joint Readiness Training Center (JRTC), as well as the recreational opportunities offered by the nearby Toledo Bend Reservoir. The current lease term averages 3.6 years, with below-market rents, presenting a compelling opportunity for long-term growth and passive income. This property offers a stable, cash-flowing investment with significant upside potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Leesville
- County
- Vernon Parish
- State
- Louisiana
- Longitude
- -93.2718
- Latitude
- 31.1219
