Shreve City Shopping Center
339,338 SF | 91% Leased | Retail Building | Shreveport, LA 71105 | $28,262,000 ($83/SF) | 7.06% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $28,262,000
- Property Type
-
Retail
- Square Feet
- 339,338 SF
- Price / Square Foot
- $83
Listing Contacts
Bo Avery
Verified Profile
- Property Info
Property Overview
Owner is pleased to present the opportunity to acquire a 339,338-square-foot, multi-tenant community center that is shadow-anchored by Walmart in Shreveport, Louisiana. Shreve City Shopping Center is currently 87 percent occupied with a combination of triple-net, gross, and base year leases providing significant upside potential. The tenant base is a complementary mix of national and local tenants. Anchored by Burlington Coat Factory, other tenants include Dollar Tree, Big Lots, Citi Trends, Goodwill, Crazy Hot Deals, Rainbow, New Ink, Daiquiri Express, What's on Tap, Roses, Delta Pathology, Hair Salon, Ocean Dental, Mariner Finance, Guy's Academy, Vape Shop, California Nail Salon, and a Wendy's pad site. Additional income is derived from a long-term billboard lease. The center was constructed in 1961 and is situated on two land parcels totaling 28.75 acres with ample paved parking. Recent property improvements include a new roof with a 20-year warranty and all new LED parking lot lights.
Shreve City Shopping Center is located on Shreveport Barksdale Highway near the signalized intersection with Knight Street and has multiple ingress and egress points. Cumulative traffic counts are approximately 18,429 vehicles per day. The subject property is located near many national and regional retailers, including McDonald's, Enterprise Rent-A-Car, Metro by T-Mobile, Church's Chicken, Dollar General, Popeye's, Pizza Hut, Wingstop, AutoZone, Domino's, CVS, Walgreen's, Brookshire's and more. The property is in close proximity to Barksdale Airforce Base, with a population of approximately 14,581 active duty members, reservists, and civilians. The city is also home to Ochsner-LSU Health, a public university focused on health sciences composed of three different schools: the School of Medicine, School of Graduate Studies, and School of Allied Health Professions.
Shreve City Shopping Center is located on Shreveport Barksdale Highway near the signalized intersection with Knight Street and has multiple ingress and egress points. Cumulative traffic counts are approximately 18,429 vehicles per day. The subject property is located near many national and regional retailers, including McDonald's, Enterprise Rent-A-Car, Metro by T-Mobile, Church's Chicken, Dollar General, Popeye's, Pizza Hut, Wingstop, AutoZone, Domino's, CVS, Walgreen's, Brookshire's and more. The property is in close proximity to Barksdale Airforce Base, with a population of approximately 14,581 active duty members, reservists, and civilians. The city is also home to Ochsner-LSU Health, a public university focused on health sciences composed of three different schools: the School of Medicine, School of Graduate Studies, and School of Allied Health Professions.
Property Details
- Class
- B
- Year Built/Renovated
- 1961/2008
- Stories
- 1
- Lot Size (sq. ft)
- 1,252,350 SF
Highlights
- 339,338-Square-Foot, Multi-Tenant Community Center
- Shadow-Anchored by Walmart
- 87% Occupied | Comprised of Triple-Net, Gross, and Base Year Leases | Seven Tenants have Percentage Rent Clauses | Significant Upside Potential
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