About This Restaurant
Investment Highlights
Portfolio Sale with The Boulevard Shopping Center (Lafayette, Louisiana) 6.89 Acre Land Parcel: Further Upside May Be Possible Through Development or Sales of Pad Sites Mix of National and Regional Credit Tenants 9.8% Day One Cap Rate | 13% Pro Forma Cap Rate | Upside Through Leasing 9,837 Square Feet of Vacancies Price Below-Replacement Cost at $66 Per Square Foot
Executive Summary
? Blended Day-One Cap Rate of 9.5 Percent? Blended Pro Forma Cap Rate of Eleven Percent | Further Upside Possible if Buyer is Able to Execute on Country Club Pad Site Development or Sales? Significantly Below Replacement Cost: Blended Price Per Square Foot to Buildings of $88? Strong Mix of National, Regional, and Local Tenants? Strong Positive Cash Flow, Despite High Interest Rate Climate
Property Details
- Sale Type Investment
- Sale Condition Bulk/Portfolio Sale
- Property Type Retail
- Property Subtype Restaurant Restaurant General Retail Storefront Restaurant
- Building Size 64,686
- Building Class B
- Year Built 1982
- Price 11,700,000
- Price Per SF 181
- Cap Rate 9.45
- NOI 1,105,708
- Percent Leased 85
- Tenancy Multiple
- Building Height 1 Story
- Loading Docks 1 Exterior
- Building FAR 0.22
- Land Acres 6.89 AC
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signalized Intersection
Property Taxes
| Parcel Number | 83298 | Improvements Assessment | $59,417 |
| Land Assessment | $424,699 | Total Assessment | $484,116 |
| Date Created: | 2024-07-16 04:16:15 | Last Updated: | 2024-07-16 04:16:15 |
| Address: | 803-865 Brownswitch Rd , Slidell, Louisiana, 70458 | ||