2958 Texas StBossier City, LA 71111

Property Details for 2958 Texas St

Year built

2012

Lot size

1.96 AC

Property size (Sq ft)

5,652 SF

Property type

Retail properties

Property subtype

Retail space

APN

124270

APU

124270

Description

This exceptional investment opportunity presents a fee-simple interest in a 5,679 square foot single-tenant retail building leased to The Mighty Crab in Bossier City, Louisiana. The property, built in 2012 and situated on a 1.96-acre lot, boasts a strong 8.00% cap rate and a substantial net operating income (NOI) of $159,028. The Mighty Crab, a thriving Cajun-style seafood restaurant, signed a ten-year NNN lease in 2022, with two five-year options and a 10% rent increase scheduled for August 1, 2027, and every subsequent five-year period. The lease requires the tenant to cover all taxes, insurance, and operating expenses, minimizing landlord responsibilities. This prime location, just over a quarter-mile from Interstate 20 Exit 22 (71,593 vehicles per day), offers exceptional visibility and accessibility. The property is an outparcel to the Pierre Bossier Mall (650,000 square feet) and benefits from high traffic counts on US Route 79/East Texas Street (12,163 VPD) and LA-3105/Airline Drive (29,056 VPD). The surrounding area features a dense concentration of national retailers, including Big Lots, CVS, and numerous restaurants, further enhancing the property's value. The Mighty Crab's presence, coupled with its proximity to the Louisiana Boardwalk Outlets and major casinos, ensures a robust and consistent customer base. The asking price is $1,988,000, representing a price per square foot of $350.06. This is a rare opportunity to acquire a high-performing, low-maintenance investment property in a thriving market. The lease expires July 31, 2032, providing a substantial remaining lease term of 7.7 years.

Location Insight

City

Bossier City

County

Bossier

State

Louisiana

Latitude

32.5282

Longitude

-93.7044

CBSA code

43340

CBSA name

SHREVEPORT-BOSSIER CITY, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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