Ground Lease C-Store Location For Sale

Vacant Land for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30180614
Property Subtypes: Retail
Gross Land Area: 41,382 SF
Sale Price: $872,000
Unit Price: $21.07 PSF
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: 4.8%
Last Updated: 8/10/2018

Overview / Comments

Location: Hard Corner Airline Highway and Post Office Road
High Traffic / High Visibility

Land: 0.95 (+/-) acres / 41,382 (+/-) square feet

Income: Ground Lease $3,488.65 NNN per month / $41,863.80 per year with annual CPI rent increases. Leased through April 30th, 2031 with one (1) ten (10) year renewal option.

Improvements: 3,600 s. f. (+/-) Chevron gas station and convenience store built in 2005 / 2006. At lease expiration, the building and other improvements become the land owner's property and the tenant retains ownership of the dispensers, canopy, and collar. The lease does provide that the land owner can require that the tenant remove the building and all improvements at lease expiration.

Zoning: MU - Mixed Use Corridor

Assemblage: Owner is also offering the adjacent 2.12 acres for sale separately at $1,320,000

Price: $872,000

Additional Details

Nearest MSA: Baton Rouge
County: Ascension
Submarket/Township: 90
Tax ID/APN: 20021790

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,001 36,196 73,228
Median Age: 34.46 33.54 34.36
Households: 1,361 12,298 25,902

Contact

Photograph of Listing Agent

Bryce French

Max J Derbes Inc New Orleans, LA 70123-3229
The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.