11297 Florida Blvd Baton Rouge, LA 70815

Property Details for 11297 Florida Blvd

Year built

1993

Lot size

1.69 lot acres

Property size

12,856 SF

Property type

Investment properties

Property subtype

Retail residential properties

APN

1501836

APU

1501836

Description

This exceptional investment opportunity presents a 13,620 square foot Walgreens located at 11297 Florida Blvd, Baton Rouge, LA 70815. The property boasts a highly desirable absolute NNN lease structure, minimizing landlord responsibilities. Built in 1993, this single-story building sits on a 1.67-acre lot and enjoys a prime hard corner location within a dense retail market. The current lease, with Walgreens, a credit-rated tenant, has a remaining term of 5.2 years, expiring January 30, 2030, and includes four or five-year renewal options. The property generates a strong net operating income (NOI) of $219,999, resulting in an attractive 8.35% cap rate. The asking price is $2,634,730, translating to $193.45 per square foot. This strategically located asset benefits from its proximity to Louisiana State University and its position in Baton Rouge, Louisiana's capital city. The property's long-standing tenancy with a nationally recognized brand like Walgreens, coupled with its strong financial performance and minimal landlord responsibilities, makes it an ideal addition to any investment portfolio. The property's Class A designation further underscores its quality and desirability. This is a rare opportunity to acquire a stable, high-performing retail investment in a thriving market.

Location Insight

City

Baton Rouge

County

East Baton Rouge

State

Louisiana

Longitude

-91.0588

Latitude

30.4594

CBSA code

12940

CBSA name

BATON ROUGE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments