211 Interstate Dr Jennings, LA 70546-3020

Property Details for 211 Interstate Dr

Lot size

1.00 lot acres

Property type

Commercial land

APN

220791550

APU

220791550

Description

This exceptional investment opportunity presents a fee-simple interest in a newly constructed (2023), two-tenant retail property located at 211 W Interstate Dr, Jennings, LA 70546. The 4,744 square foot building sits on a 1.09-acre lot and boasts a strong tenant lineup featuring Starbucks and T-Mobile, both operating under brand new, 10-year NNN leases with built-in rent bumps every five years. This provides a weighted average lease term of nearly 10 years, minimizing short-term rollover risk. The property enjoys 100% occupancy, generating a Net Operating Income (NOI) of $181,400 and a 6.50% cap rate, with an asking price of $2,791,000 ($588.32/sq ft). The property features 49 parking spaces and is zoned C-3: Highway Commercial District. Its strategic location along Elton Road, with direct access to Interstate 10, ensures high visibility and accessibility, benefiting from an average daily traffic count of 36,400 vehicles on Elton Road and 62,300 on I-10. The property is shadow-anchored by a Walmart Supercenter, further enhancing its appeal and drawing from a dense retail trade area including Tractor Supply Co., AutoZone, and other national retailers. The 5-mile trade area boasts over 13,900 residents and 7,200 daytime employees, with an average household income of $76,623. The property's proximity to several residential communities provides a strong local customer base. This investment offers a compelling combination of strong tenants, long-term leases, and a prime location in a thriving retail market.