Huddle House | 15-Year Lease
2,000 SF | Retail Building | Natchitoches, LA 71457 | $550,500 ($275/SF) | 6% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $550,500
- Sale Condition
- 1031 Exchange
- Property Type
-
Retail, Restaurant
- Square Feet
- 2,000 SF
- Price / Square Foot
- $275
Listing Contacts
Dustin Javitch
Verified Profile
Steve Greer
Verified Profile
- Property Info
Property Overview
Marcus & Millichap is pleased to present a Huddle House restaurant, located at 5306 University Parkway, Natchitoches, LA 71457. Huddle House is positioned along Natchitoches Highway (8,000+ Vehicles per Day) and directly off Interstate 49 (12,000+ Vehicles per Day). It is anchored by a 74-room Hampton Inn and surrounded my multiple other national hotel brand properties. The 2,000 SF structure is situated on 0.568 acres and was built in 2003. The property has been operating as a Huddle House for over 20 years. In 2023, the business operations were taken over by Over Easy Management, Inc, the largest franchisee operator for Huddle House with approximately 24 units. As part of this transition, the Tenant and Landlord both contributed significant capital towards renovations and remodeling of the property including a brand-new roof, new HVAC systems and major upgrades to the facade and signage. The Tenant executed a new 15-year lease with rent based on six percent of gross revenue. The lease includes three, five-year renewal options.
Natchitoches, Louisiana, is the oldest permanent settlement in the Louisiana Purchase, founded in 1714. Located in the central part of the state, it sits along the banks of the Cane River and is known for its historic charm and deep-rooted cultural heritage. The city is about 70 miles south of Shreveport and 250 miles northwest of New Orleans. It is home to Northwestern State University, which brings a youthful and vibrant energy to the area.
*Tenant pays rent based on a percentage of sales. Current Annual Rent is based on an annualized basis of sales over the last 5 months (rent commencement date of March 1, 2024)
Natchitoches, Louisiana, is the oldest permanent settlement in the Louisiana Purchase, founded in 1714. Located in the central part of the state, it sits along the banks of the Cane River and is known for its historic charm and deep-rooted cultural heritage. The city is about 70 miles south of Shreveport and 250 miles northwest of New Orleans. It is home to Northwestern State University, which brings a youthful and vibrant energy to the area.
*Tenant pays rent based on a percentage of sales. Current Annual Rent is based on an annualized basis of sales over the last 5 months (rent commencement date of March 1, 2024)
Property Details
- Class
- C
- Year Built
- 2003
- Stories
- 1
- Lot Size (sq. ft)
- 24,829 SF
Highlights
- 2,000 Square Foot Huddle House Casual Restaurant in Natchitoches, LA
- Newly Executed 15 Year Triple Net Lease
- Extensive Remodel in 2023 | Brand New Roof, New HVAC Units and Upgrades to the Facade and Signage
- Operated by Over Easy Management, Inc – the Largest Huddle House Franchisee with 24+ Units
- Situated Along Natchitoches Highway (8,000 VPD) and Directly Off Interstate 49 (12,000+ VPD) | Outparcel to Hampton Inn
- Huddle House Operates Approximately 275 Locations Throughout 25 States
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