900 Admiral Doyle Dr New Iberia, LA 70560

Property Details for 900 Admiral Doyle Dr

Property type

Commercial real estate

APN

15 00811991I

APU

1500811991I

Description

This exceptional investment opportunity presents a 7,572-square-foot, three-tenant retail pad building in New Iberia, Louisiana. The property, built in 2023, boasts a strong tenant lineup including Verizon Wireless, Mattress Firm, and Zeus Mediterranean Kitchen, all operating under long-term NNN leases with built-in rent increases. The property features a 7.00% cap rate and a Net Operating Income (NOI) of $258,275, with an asking price of $3,690,000 ($487.32/SF). Situated on a 1.15-acre lot (APN: 05 03908972A) in a high-traffic location at 900 E Admiral Doyle Dr (zip code 70560), this Class A property benefits from its proximity to major retailers such as Hobby Lobby, Rouses Market, and Ross Dress for Less. The property's strategic location within a thriving retail corridor ensures high visibility and consistent foot traffic. The NNN lease structure minimizes landlord responsibilities, while the strong creditworthiness of the tenants provides financial stability. This is a turnkey investment opportunity with significant potential for long-term growth and return. The permitted zoning is Commercial. High daily traffic counts on South Lewis Street (23,000 vehicles) and Admiral Doyle Drive (21,000 vehicles) further enhance the property's desirability. Over 74,000 people reside within a ten-mile radius, providing a substantial customer base.