113 Highway 1, Oil City, LA 71061

This former Family Dollar, perched at 113 Highway 1 North, presents an excellent opportunity in Oil City, Louisiana. The single-story retail property is fully fitted out and rings in an impressive 8,320 square feet on a 0.75-acre lot. The asset has ample and plentiful parking for employees and patrons alike. The site benefits from pylon signage and high visibility along Highway 1 with direct access into Shreveport. New ownership has several avenues for using this asset. Because of the broad zoning, many business types can thrive in this location. Buyers can use the property for their own business and build-out to their specifications. There is also the option to lease out this space to a company that fills a city need and collects market rates.

Oil City is a small town north of Shreveport that greatly benefits from being a part of the Caddo Parish retail submarket. Currently, in this submarket, retail vacancy is at an impressive 1.5%, which is 1% lower than it was a year ago. Rents in this submarket have increased by 4.2% over the past year and a tremendous 15.9% over the past three years. Roughly 8,100 square feet are under construction in the Caddo Parish retail submarket. In the past year, there have been 16 sales, which traded for approximately $11.3 million in volume.

Oil City is an excellent place for business and is significantly placed at the convergence of Louisiana, Texas, and Arkansas. The town is situated on the banks of Caddo Lake, a massive freshwater reservoir that is popular with anglers and families looking for a weekend getaway. As its name implies, Oil City was a boom town for the oil and gas industries in the early 20th century. The first wells were drilled in 1904, and within a few short years, an entire city had developed to house, feed, and entertain oil field workers. In its earliest years, one building housed the post office, auditorium, store, and pool hall, and old freight cars from the Kansas City Southern Railroad were being reconfigured and reused for local business. Currently, there are few retailers in the area allowing for new ownership to add value to the city. Nearby businesses include the United States Postal Service, Oak Valley Farms, the Louisiana State Oil and Gas Museum, Oil City Town Hall, and the Shreve Memorial Library-Oil City Branch.

This former Family Dollar presents an opportunity for investors and owners/users to add value to a small town while creating a thriving business.

Property tours are available by appointment only. Please contact the listing broker to schedule.