Address: 2031 E. Madison Avenue, Bastrop, Louisiana 71220
The Madison Plaza Shopping Center is a 115,203 square foot retail center situated along Madison Avenue in the heart of Bastrop. Madison Plaza is located along one of the busiest roadways in the city with the property boasting 538 feet of frontage along E. Madison Avenue. Dollar General has expressed recent interest in some of the vacant space and there is opportunity for a value add income play with increased rental revenue post acquisition.
Productivity Notes: The shopping center is currently 67.5% occupied generating an average rental rate of $5.31 per square foot of leased space or $412,596 per annum. Overall, the current occupancy and average rental rate is well supported by competitive market data. The tenant mix includes national credit tenants such as Citi Trends, Hibbett’s Sporting Goods, Harbor Freight, U.S. Agencies and Affordable Home Furnishings. The units are leased on a mixture of gross and triple-net terms. Historically, the property has operated at 80%+ occupancy levels.
List Price: $3,500,000 | $30.38 PSF
GBA: +/- 115,203 SF
Site Size: +/- 15.08 Acres
Zoning: CC-2, Commercial Corridor
Parking: +/- 475 Parking Spaces
For further listing details please contact Louis Lebourgeois 985-317-4464, Christopher Dozier 504-722-5393 or Parke McEnery 504-236-9542