3319 Texas St Bossier City, LA 71111
- Industrial properties
- 12,000 SF
- 1.39 lot acres
Current Use by Public Records
- Gerber Collision & Glass / Auto Painting / Auto Repair Shop
Property Details for 3319 Texas St
- Year built
- 2006
- Lot size
- 1.39 lot acres
- Property size
- 12,000 SF
- Property type
- Industrial properties
- Property subtype
- Loft space
- APN
- 162574
- APU
- 162574
Description
This exceptional investment opportunity presents a 12,000 square foot, single-tenant net-leased auto shop in Bossier City, Louisiana. The property, built in 2006, is situated on a 1.39-acre lot and boasts a 100% occupancy rate with Gerber Collision & Glass, a subsidiary of the publicly traded Boyd Group Services, Inc. The current lease, commenced March 18, 2022, has a remaining term of 7.3 years with a 10-year initial term and includes 10% rental increases every five years. The property features a strong Net Operating Income (NOI) of $143,256, resulting in a compelling 6.23% cap rate and a price per square foot of $191.67. The asking price is $2,300,000. The property is zoned B-3 and benefits from a prime retail location. Gerber recently invested in new roofing systems with a 20-year warranty starting January 2024. This investment offers a secure, long-term lease with a financially stable and growing tenant in a desirable location, presenting significant potential for return. The low rent-to-sales ratio further enhances the investment's attractiveness. This is a rare opportunity to acquire a high-quality, net-leased property with a strong tenant and significant upside potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,045,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,360,000
- 6.5%
- $1,380,000
- 7%
- $1,150,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,375,000
- Geo Method
- $1,145,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,075,000
- Retail
- $1,025,000
- Mixed-Use
- $1,115,000
- Hospitality
- $1,310,000
- Educational
- $1,020,000
- Residential Income
- $1,195,000
- Energy
- $1,020,000
- Income-Based Land
- $1,130,000
- Food Service
- $1,380,000
Location Insight
- Map
- Local Demand
- City
- Bossier City
- County
- Bossier
- State
- Louisiana
- Longitude
- -93.6955
- Latitude
- 32.53
- CBSA code
- 43340
- CBSA name
- SHREVEPORT-BOSSIER CITY, LA METROPOLITAN STATISTICAL AREA
