Airline Hwy Investment For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30639659
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail, Other
Building Size (RSF): 6,000 SF
Gross Land Area: 0.95 Acres
Sale Price: $1,299,999
Unit Price: $216.67 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Music & Arts
Usable Size (USF): 6,000 SF
Sale Terms: Cash to Seller
Cap Rate: 6.46%
Average Occupancy Rate: 100
Last Updated: 1/17/2021

Overview / Comments

14340 Airline Hwy in Gonzales, Louisiana is a retail property with a wide view of Airline Highway situated on an open lot. This property sits on 0.95 acres, with entrances to the parking lot on both Airline Hwy and Tommy Moore Rd. This 6,000 Sq Ft freestanding building consists of metal framing on slab. The current Tenant, Music & Arts, is a national music retailer founded in 1952 with over 200 locations across the country. Music & Arts specializes in band and orchestra instrument sales and rentals, guitars, keyboards, sheet music and books, musical accessories, repairs and private music lessons. In 2005, Music & Arts was acquired by Guitar Center, Inc. The current lease is in place until March 31, 2024 with four (4) consecutive five (5) year lease options, subject to ten percent (10%) increases per option term. The Mixed Use Corridor (MU) zoning district is designed to concentrate the most intensive residential and commercial developments along the major arteries of Ascension parish.

• Reviewing All Offers!
• Airline Hwy Investment Property For Sale
• 6,000 SF Freestanding Metal Frame Building On Slab
• Current Tenant: Music & Arts
• Music & Arts Has Been In Business Since 1952 With Over 200 Locations Across The Country
• Only Music Store In Ascension Parish. No Competing Business
• Lease In Place Until March 31, 2024 With Four (4) Consecutive Five (5) Year Option Terms
• Corporate Backed Lease
• Three Phase Power
• Possible Additional Revenue With Land Lease To Billboard Company (Owner Has Been Approached By Multiple Billboard Companies)
• Contact Agent For Additional Information

Music & Arts opened its doors in 1952 offering printed music, music lessons, dance lessons, and art supplies. Shortly after opening for business the company focused on music to better serve customers. Since the 1990's, Music & Arts has expanded nationwide through organic growth and a series of acquisitions and mergers with other music dealers. In 2005, Music & Arts joined forces with American Music (through Guitar Center) to become the largest band and orchestra instrument retailer in the United States.

Music & Arts now comprises of 200+ retail stores, 120+ educational representatives, and 300+ affiliate locations.

In 2005, Guitar Center Inc. acquired Music & Arts and merged their subsidiary band and orchestral chain American Music Group into Music & Arts. Guitar Center, the parent company of Music & Arts, has 284 locations across the United States and had an estimated revenue of $1.52 billion in 2018.

Guitar Center is the largest chain of music instrument stores in the United States, with over 11,000 employees operating hundreds of stores throughout the country. In 2007, investment company Bain Capital Partners acquired Guitar Center for $1.9 billion.

Additional Details

Nearest MSA: Baton Rouge
County: Ascension
Submarket/Township: 90
Tax ID/APN: 20020685
Zoning: MIXED USE (MU)
Retail Clientele: General, Business, Other
Traffic/Vehicle Count: 20,406
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 6,000 SF
Property Condition: Excellent
Zoning Description: The Mixed Use Corridor (MU) zoning district is designed to concentrate the most intensive residential and commercial developments along the major arteries of Ascension parish.
Legal Description: Parcel ID 20020685. +/- 6,000 SF metal building sitting on 1 parcel of land equaling 0.95 acres legally described as .95 AC. SEC. 97- 9-3, TRACT A-1-A-2 A (WOODRUN S/D, FIRST FILING) (526/393) (MAP#343310) (MAP#422337) (604/218) (MAP#422622) (MAP#434851) (MAP#537485) (COB/571648) (MAP#570174 & 594724).

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,154 39,671 75,890
Median Age: 31.24 33.49 34.13
Households: 3,551 13,951 26,622

Contact

Photograph of Listing Agent

Reiss Weil

Beau Box Commercial Real Estate Baton Rouge, LA 70808
LACDB Member
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