2023 Foster Dr Baton Rouge, LA 70806-1010

This exceptional investment opportunity presents a 4,545-square-foot grocery store located at 2023 North Foster Drive, Baton Rouge, LA 70807. The property is currently under a 15-year absolute triple-net (NNN) lease with IMTAA, a successful grocery store operator, commencing April 19, 2021, and expiring April 18, 2036. With 11.4 years remaining, this lease offers significant long-term stability and minimal landlord responsibilities. The asking price is $2,621,000, representing a price per square foot of $576.68 and an attractive 8.50% cap rate based on a net operating income (NOI) of $222,853. The lease includes annual rent bumps of 2%, providing a strong hedge against inflation. Furthermore, the lease contains four 5-year renewal options, extending the potential investment horizon. The tenant's strong personal guarantee from the CEO adds an extra layer of security. The property benefits from its location in a densely populated residential area of Baton Rouge, a growing market with a large student population due to the presence of Louisiana State University. Nearby national tenants include McDonald's, Advance Auto Parts, Subway, and many others, indicating a strong retail environment. This is a compelling investment opportunity offering a high yield, long-term lease, and minimal management requirements. 100% occupancy ensures immediate cash flow.