5100 Highway 56, Chauvin, LA 70344
8,100 SF | Retail Building | Chauvin, LA 70344 | $567,650 ($70/SF) | 7.49% Cap Rate
For Sale
Active
Asking Price $567,650
- Property Type
-
Retail
- Square Feet
- 8,100 SF
- Price / Square Foot
- $70
Listing Contacts
Harry Bell
Property Overview
The subject property is a net-leased corporate guaranteed Family Dollar located in Chauvin, Louisiana. Family Dollar has been at this location since the 8,100 SF building was built in 1997. The building is situated on approximately +/-.95 acres next to USPS, Capital One Bank, and Coastal Commerce Bank. Family Dollar has +/- 2 years remaining on the lease, the lease auto-renewed in December of 2018. The tenant has 2 x 5-year renewal options remaining with 5% rent increases per option. The property is double-net with the landlord responsible for the roof, structure, CAM, exterior, and electrical/plumbing. The landlord is responsible for major repairs/replacement and HVAC repairs greater than $500. The Tenant reimburses for the tax and insurance over the base year. Based on provided expenses, the Landlord spent $1760 on CAM, $0 on Maintenance. The property is being offered at a 7.5% cap rate and is an ideal opportunity for a passive investor looking for a credit rated corporate-backed asset in the state of Louisiana. The asset is being sold as part of a portfolio of Family Dollar stores or can be purchased separately.
Property Details
- Class
- C
- Year Built
- 1997
- Stories
- 1
- Property Subtype
- Freestanding, Storefront
- Lot Size (sq. ft)
- 40,946 SF
Highlights
- Attractive Low Price Point and Cap Rate
- Strong credit tenant; ecommerce resilient tenant
- Over 8,000 Family Dollar Stores
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