Asking Price: $1,105,016
Cap Rate: 6.85%
- Prime retail location: Located at the intersection of Evangeline Highway and Riverside Road in Jennings, La., this location is a short 5-mile drive from Jennings Airport. Interstate 10 connects the town of Jennings to the cities of Lafayette and Lake Charles.
- Established, recognized retail tenant: Dollar General has over 12,500 convenient, easy-to-shop stores operating in 43 states delivering everyday low prices on name-brand products. Net sales increased by 7.9 percent in 2016, and the company is set to open 1,000 new locations in 2017.
- Quality, long-term NNN investment: Absolute NNN lease means no landlord expenses. Fifteen-year base lease with four options to extend with a 10 percent increase within each option.
- Unique Southern market: Jennings is known as the “Cradle of Louisiana Oil” and is connected to major metropolitan areas such as Houston, Texas and New Orleans, La. by Interstate 10. Jennings is part of the larger Jefferson Davis Parish, which boasts more than 356,000 acres of developed farmland that bring in an annual crop valued at well over $55 million.
Listed in conjunction with Louisiana broker Rod Noles (license BROK.0000019413.A-ASA).
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