5702 Johnston St Lafayette, LA 70506

Property Details for 5702 Johnston St

Year built

2000

Lot size

1.70 lot acres

Property size

17,785 SF

Property type

Lifestyle centers

Property subtype

Power centers

APN

6080089

Description

This exceptional investment opportunity presents a fully occupied, 17,785 square foot retail shopping center in Lafayette, Louisiana. Located at 5702 Johnston Street, this single-story, 1-building property sits on a 1.7-acre lot and boasts 97 parking spaces. Currently housing four tenants—Guitar Center (with a recent 5-year lease extension and an additional 5-year option), Vitamin Shoppe (with a recent lease renewal), Spirit Halloween, and State Farm Insurance—the property enjoys 100% occupancy and a strong net operating income (NOI) of $360,475, yielding a 7.50% capitalization rate. The asking price is $4,806,000. The property benefits from a prime location on Johnston Street, a major retail corridor with an average daily traffic count of 45,700 vehicles, and enjoys excellent visibility due to its street frontage and prominent monument signage. It's strategically positioned as an outparcel to the Acadiana Square Shopping Center, a large retail center anchored by major national retailers. The surrounding area features a dense concentration of national and credit tenants, further enhancing the property's appeal and driving significant consumer traffic. The property's location within a high-income demographic area, with over 127,000 residents and 114,000 employees within a five-mile radius, ensures a robust and stable consumer base. The property is zoned CH and offers potential for value-add opportunities through lease restructuring and re-leasing of the seasonal tenant space. The fee simple ownership includes both land and building. This is a rare opportunity to acquire a high-performing retail investment in a thriving market.