3845 Elm St, Choudrant, LA 71270

Property Details for 3845 Elm St

Year built

2024

Lot size

1.90 lot acres

Property type

Retail properties & Spaces

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 10,531 square foot Family Dollar Tree retail building in Choudrant, Louisiana. Built in 2024, the property boasts a 10-year net lease (NN+) with a credit-rated corporate guarantor, ensuring consistent income. The lease includes four, five-year options with built-in rent bumps of $5,250 per option period ($0.50 PSF). The property sits on a 1.9-acre lot and benefits from a high-traffic location (40,700 VPD) and a strong demographic profile, including a 5-mile population of 85,772 residents with an average household income of $73,996. The property's strong location is further enhanced by its proximity to the new Ruston Sports Complex, Louisiana Tech University, Grambling State University, and Louisiana Delta Community College. The property generates a substantial net operating income (NOI) of $134,925, resulting in a compelling 7.85% cap rate. The tenant, Family Dollar Tree, is a highly reputable, investment-grade rated (BBB by S&P) national retailer with over 16,000 stores and $28.3 billion in revenue. This is a rare opportunity to acquire a stable, high-performing retail asset with significant long-term growth potential. The property is 100% occupied and offers minimal landlord responsibilities, as the tenant is responsible for HVAC, CAM, taxes, and insurance. The lease commenced May 18, 2024, and expires May 31, 2034, providing a remaining lease term of approximately 9.8 years. The asking price is $1,718,789.

Location Insight

City

Choudrant

County

Lincoln Parish

State

Louisiana

Longitude

-92.513

Latitude

32.5313