The Boulevard

68,012 SF | 100% Leased | Retail Building | Lafayette, LA 70506 | $7,400,000 ($109/SF) | 9.49% Cap Rate

Asking Price $7,400,000

Property Type: Retail
Square Feet: 68,012 SF
Price / Square Foot: $109

Listing Contacts

Alex Wolansky

Verified Profile

Gus Lagos

Verified Profile

Property Info

Property Overview

• 9.49 Percent Day-One Cap Rate
• 10.10 Percent Pro Forma Cap Rate | Upside Through Leasing 2,791 Square Feet of Vacancies
• Further Upside by Raising Below-Market Rents. Nearby Retail Asking Rents of $17 Per Square Foot Plus Triple Nets. The Boulevard’s Average Base Rent is $10.50 Per Square Foot
• Price Below-Replacement Cost at $109 Per Square Foot
• Mix of National and Regional Credit Tenants

Property Details

Class: C
Year Built/Renovated: 1975/1994
Stories: 1
Property Subtype: Storefront
Lot Size (sq. ft): 225,205 SF

Highlights

9.49 Percent Day-One Cap Rate
10.10 Percent Pro Forma Cap Rate | Upside Through Leasing 2,791 Square Feet of Vacancies
Upside by Raising Below-Market Rents. Nearby Retail Asking Rents of $17 Per Square Foot Plus Triple Nets.
Price Below-Replacement Cost at $109 Per Square Foot
Mix of National and Regional Credit Tenants

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