511 Tunica W Dr, Marksville, LA 71351-2628

Property Details for 511 Tunica W Dr

Lot size

0.29 lot acres

Property type

Commercial real estate

APN

171285853

APU

171285853

Description

This exceptional investment opportunity presents a 3,200 square foot Jiffy Lube located at 511 Tunica Dr W, Marksville, LA 71351. The property sits on a 0.292-acre lot and boasts a prime location on a major thoroughfare with an average daily traffic count of 11,478 vehicles. This Net Lease (NN) property features a single tenant, Team Car Care, the largest quick lube franchisee in the country, operating under the well-known Jiffy Lube brand. The current lease, commenced November 1, 2010, has a remaining term of approximately 5.9 years, extending to October 31, 2030, with two 5-year renewal options and 12.5% rent increases. The property generates a substantial Net Operating Income (NOI) of $64,294, resulting in an attractive 8.25% cap rate. The asking price is $779,325. Built in 1994, this property benefits from its proximity to other major retailers including Walgreens, Walmart, Taco Bell, and more, serving a 5-mile population of 10,807 with an average household income of $54,107. The property also includes an attached apartment, offering additional income potential. Marksville's strong local economy, further bolstered by the Paragon Casino and Resort, makes this a compelling investment prospect. This is a rare opportunity to acquire a well-established, high-performing Jiffy Lube location with significant upside potential.

Location Insight

City

Marksville

County

Avoyelles

State

Louisiana

Longitude

-92.077

Latitude

31.1271

Property Tax & Assessments