Address: 1225 Carmel Dr., Lafayette, LA 70501
List Price: $775,000 | $85.98 Per SF
·New Eight Year Lease Extension (November 2020)
·Three, Five Year Renewal Options
·10% Rental Increase in First Option Period
·NN Lease Structure
·NOI – $52,200 per year
·Offering CAP Rate – 6.74%
·9,014 sq/ft – Constructed in 2004
The McEnery Company is pleased to offer the opportunity to acquire a NN leased, freestanding, Dollar General investment property located in Lafayette, LA. The tenant, Dollar General (S&P: BBB | NYSE: DG), recently executed an early 5-year extension through August 2029, demonstrating their continued commitment to the site. The lease features 3 remaining 5-year extension options with 10% rental increases at the beginning of each option period. The lease is NN+ with landlord responsible for roof, structure, and CAM (which DG reimburses $349/Mo). This is a “bite sized” investment opportunity located in the city of Lafayette in close proximity to many rooftops. Located just off the corner of E. Pinhook and Carmel Dr., the property offer easy access to the main suburban arteries and the I-10 corridor.
Building Area: 9,014 SF
Land Area: 1.68 Acres
Cap Rate: 6.74%
For more information please contact Troy Hagstette 504-251-5719
