205 Edgewood Dr Pineville, LA 71360
- Auto shops
- 1,600 SF
- 0.26 lot acres
Current Use by Public Records
- Jiffy Lube / Oil Change Service / Car Battery Store
Property Details for 205 Edgewood Dr
- Year built
- 1982
- Lot size
- 0.26 lot acres
- Property size
- 1,600 SF
- Property type
- Auto shops
Description
This exceptional investment opportunity presents a fee-simple ownership of a 1,600 square foot Jiffy Lube located at 205 Edgewood Dr, Pineville, LA 71360. The property boasts a strong absolute NNN lease with a prominent franchisee, Second Largest Jiffy Lube Franchisee Team Car Care LLC, operating over 490 locations nationwide. The current lease, initiated February 27, 1997, has a remaining term of approximately 2.3 years, followed by a single 5-year renewal option with a 12.5% rent increase. The property, built in 1982, sits on a 0.26-acre lot and enjoys 100% occupancy, generating a substantial net operating income (NOI) of $48,054, representing a 6.00% cap rate. The asking price is $800,902, translating to $500.56 per square foot. This location benefits from its position within a major retail corridor, surrounded by established businesses such as CVS Pharmacy, Walgreens, Dollar General, McDonald's, Burger King, Chase Bank, Circle K, O'Reilly's, and Advance Auto Parts. Proximity to significant residential areas, including Misty Hollow (176 units) and Parkchester (80 units) apartment complexes, further enhances the property's value and potential for long-term growth. This is a rare opportunity to acquire a well-established, passively managed investment with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pineville
- County
- Rapides Parish
- State
- Louisiana
- Longitude
- -92.39905885
- Latitude
- 31.33515135
