About This Restaurant
Investment Highlights
Baton Rouge MSA 20 Year Absolute NNN Lease Winn Dixie Outparcel
Executive Summary
Marcus & Millichap is pleased to present this absolute triple-net lease SONIC Drive-In restaurant in Gramercy, Louisiana. There will be a brand new 20-year triple-net lease at Close of Escrow with 10 percent rental increases every Five years along with Four, Five-year renewal options. This 0.49-acre site sits along North Pine Street/Highway 3125 with traffic counts of over 12,500 vehicles daily. The restaurant is an outparcel to Winn-Dixie shopping center. Other notable tenants in the area include AutoZone, Popeyes, McDonald?s, Planet Fitness and Lucky Dollar Casino. Gramercy is located approximately halfway between Baton Rouge and New Orleans.
Property Details
- Sale Type Investment
- Sale Conditions 1031 Exchange 1031 Exchange Sale Leaseback 1031 Exchange
- Property Type Retail
- Property Subtype Fast Food Fast Food General Retail Freestanding General Retail Restaurant Fast Food
- Building Size 1,256
- Year Built 1999
- Price 1,632,000
- Price Per SF 1,299
- Cap Rate 6.15
- NOI 100,400
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.06
- Land Acres 0.49 AC
Property Taxes
| Parcel Number | 100095890 | Improvements Assessment | $5,000 |
| Land Assessment | $41,731 | Total Assessment | $46,731 |
| Date Created: | 2024-07-16 04:16:16 | Last Updated: | 2024-07-16 04:16:16 |
| Address: | 1825 Highway 3125 , Gramercy, Louisiana, 70052 | ||