Net Leased Investment in Lake Charles, LA

Retail-Commercial for Sale
Catylist Listing ID: 30572641
Property Subtypes: Free-Standing Building, Other
Building Size (RSF): 9,460 SF
Gross Building Area: See Agent
Gross Land Area: 1.09 Acres
Sale Price: $2,600,000
Unit Price: $274.84 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Pier 1 Imports
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/6/2020

Overview / Comments

The subject property is a net leased investment located on a major thoroughfare in Lake Charles, Louisiana – one of the fastest growing small markets in the US. It is strategically situated in front of the Prien Lake Mall on West Prien Lake Road. This location offers a great combination of solid daytime population, strong average income and complimentary area tenants. The property will be delivered free and clear of debt and is offered as an all cash transaction.

- ±9,460 SF Net Leased Investment
- Outparcel to Major Shopping Mall
- Currently Leased at $18.08 PSF (base rent)
- Current Lease Term Ends 02/28/2023
- Two 5 Year Options to Extend (9.5% increase for 1st option and 10% increase for 2nd)
- ±1.09 acre site with approximately 56 parking space
- Financials Available Upon Execution of Signed NDA
- Use Restrictions (contact agent for details)

Additional Details

Nearest MSA: Lake Charles
County: Calcasieu
Taxing Authority: City of Lake Charles
Tax ID/APN: 01355585
Zoning: BUSINESS (MUNICIPAL)
Property Visibility: Excellent
Largest Nearby Street: West Prien Lake Road
Tenancy: Single Tenant
Total Number of Buildings: 1
Total Parking Spaces: 56
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,144 62,593 97,776
Median Age: 36.72 36.27 36.5
Households: 4,516 25,908 38,952

Contact

Photograph of Listing Agent

Andrew Vanchiere

NAI/Latter & Blum Commercial Lake Charles Lake Charles, LA 70601
LACDB Member
Photograph of Listing Agent

Jack R Hodges, Jr

NAI/Latter & Blum Alexandria Lake Charles, LA 70601
LACDB Member
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