1144 Grand Caillou Rd Houma, LA 70363-6070

Property Details for 1144 Grand Caillou Rd

Lot size

0.54 lot acres

Property type

Retail space

APN

21797

APU

21797

Description

This exceptional investment opportunity presents a fee-simple ownership of a 6,124 square foot Advance Auto Parts store located at 1144 Grand Caillou Rd, Houma, LA 70363. Built in 2008, this single-story building sits on a 0.53-acre lot and boasts a 7.50% cap rate with a strong NOI of $95,000. The property benefits from a 15-year absolute NNN lease with 7.2 years remaining, expiring December 31, 2031. The lease includes three, five-year renewal options with 5% rent bumps. Advance Auto Parts, a nationally recognized and credit-rated (S&P Rated: BBB-) corporation, provides a corporate guarantee for the lease. The tenant is responsible for all property expenses including HVAC, CAM, taxes, and insurance. This prime retail location enjoys high visibility and traffic counts exceeding 22,500 vehicles daily on Grand Caillou Rd. The surrounding area features numerous national retailers, including Walmart, Sonic, Chick-fil-A, and more. The property benefits from a strong demographic profile, with a 3-mile population of 29,411 and a 5-mile population of 60,365, boasting an average household income of $75,015 annually. This is a rare opportunity to acquire a stable, high-performing investment property with a blue-chip tenant in a thriving retail market. The asking price is $1,266,667.