1700 Ruth St Sulphur, LA 70663-6702

Property Details for 1700 Ruth St

Lot size

0.99 lot acres

Property type

Turn key restaurants

APN

1331428

APU

1331428

Description

This exceptional investment opportunity presents a fee-simple, absolute NNN leased Casa Ole restaurant located at 1700 Ruth St, Sulphur, LA 70663, within the Lake Charles MSA. The 4,576 square foot building, constructed in 2004, sits on a substantial 2.44-acre lot, offering significant upside potential. Currently operating at 100% occupancy, the lease with Casa Ole commenced January 7, 2004, and extends until January 31, 2030, with 5.1 years remaining and 10 five-year renewal options. The lease includes annual rent bumps of 1.5%, mitigating inflation risks. The property boasts a strong NOI of $196,147, resulting in a 6.75% cap rate and a price per square foot of $635.03. The asking price is $2,905,881. The tenant, Casa Ole, is part of MRI Heritage Brands, Inc., a well-established restaurant group with over 150 years of combined operating history and 30+ locations across four states. The property benefits from its high-traffic location on Ruth Street (19,000 AADT), ample parking, and proximity to major transportation arteries including I-10 and Highway 90, as well as the Port of Lake Charles. The large lot size provides significant flexibility for future development or expansion. This is a rare opportunity to acquire a well-established, low-maintenance, high-return investment in a thriving market. All property maintenance and upkeep responsibilities fall solely on the tenant. The lease is guaranteed by Mexican Restaurants, Inc.