1804 Elton Rd Jennings, LA 70546

This exceptional investment opportunity presents a 14,760 square foot Walgreens located at 1804 Elton Rd, Jennings, LA 70546. The property, built in 2006, sits on a ground lease and boasts a strong 8.25% cap rate with a current NOI of $296,759. The absolute NNN lease with a credit-rated corporate guarantor ensures a low-risk investment, featuring a remaining term of approximately 7.4 years, expiring April 30, 2032. The property benefits from a convenient location in a high-traffic area, situated on an outparcel to a Walmart Supercenter, experiencing approximately 14,900 cars daily on Hwy-10, a major route between Baton Rouge and Houston. The inclusion of a drive-thru pharmacy further enhances the property's appeal and revenue potential. Rental increases are included in lease options, providing future income growth. This is a rare opportunity to acquire a Walgreens property under a ground lease, offering a management-free ownership experience. The asking price is $3,597,078, representing a price per square foot of $243.70. The property is 100% occupied since its opening on May 1, 2007, and is suitable for a 1031 exchange.