1421 Airline Hwy La Place, LA 70068-3744

Property Details for 1421 Airline Hwy

Property type

Commercial land

APN

400354700

APU

400354700

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 3,500 square foot medical office building in LaPlace, Louisiana, fully occupied by Aspen Dental under a 10-year NNN lease commencing April 30, 2023, and expiring April 30, 2033. The lease includes three 5-year renewal options and features 10% rent increases every five years, ensuring consistent income growth and inflation protection. The property boasts a 6.80% cap rate and a strong net operating income (NOI) of $161,000. Situated on a 0.82-acre lot with 39 parking spaces, the building enjoys a prime location at a signalized, hard-corner intersection on W. Airline Highway, a major thoroughfare with high daily traffic volume. This high-visibility location benefits from proximity to numerous shopping centers, including Belle Terre Marche, La Place Center, and Riverlands Shopping Center, as well as a strong concentration of national retailers such as Walmart, Home Depot, and CVS. The property's strategic placement within a dense retail corridor and its proximity to substantial residential communities ensures a robust customer base. The 5-mile trade area boasts a population exceeding 39,900 residents and 13,800 daytime employees, with an average household income of $85,622. Built in 2023, the building is in excellent condition and includes a roof warranty. The corporate-guaranteed lease and minimal landlord responsibilities make this a low-management, high-return investment. The property's APN is 400354700.