223 Morrison Blvd Hammond, LA 70401-2920

Property Details for 223 Morrison Blvd

Year built

2005

Lot size

0.88 lot acres

Property size

3,287 SF

Property type

Commercial real estate

APN

1376705

APU

1376705

Description

This exceptional investment opportunity presents a fee-simple ownership of a 3,287 square foot KFC restaurant located at 223 N Morrison Blvd, Hammond, LA 70401. The property boasts a newly extended 15-year absolute NNN lease, expiring October 30, 2039, ensuring a passive income stream with no landlord responsibilities. Built in 1992 and renovated in 2024, the property enjoys 100% occupancy since July 24, 2012, generating a strong net operating income (NOI) of $70,000 and a 6.00% cap rate. The asking price is $1,167,000. The tenant, EGP Brands, LLC, operates six KFC units, demonstrating their commitment to the location and the brand. This prime retail location benefits from high visibility and significant traffic, situated within a dense retail corridor alongside numerous national retailers including Walmart, Target, and Home Depot. The property is strategically positioned within the high-growth Baton Rouge MSA, a region with a robust economy and expanding retail presence. The surrounding area boasts a strong population base exceeding 63,000 residents within a 5-mile radius, with an average household income over $71,000. The property's proximity to major employers and amenities, including North Oaks Hospital and various hotels, further enhances its appeal and consistent traffic flow. Rent bumps are included in the lease agreement. This investment offers a secure, long-term opportunity with a well-established national brand in a thriving market.

Location Insight

City

Hammond

County

Tangipahoa

State

Louisiana

Longitude

-90.4831

Latitude

30.5025

CBSA code

25220

CBSA name

HAMMOND, LA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments